Looking for resistance on the chart in the current correction, I have calculated that $137.03 is the 38.2% rebound from what may very well be the 4th wave of A. I interpret the 3rd wave as being $145.00 to $132.10 ($12.90).
If I am correct in the wave count to date then I would assume a 5th wave, which is often 38.2% of the entire 5 waves, is likely to end at $128.85.
Projecting further, a five-wave sequence should confirm that it is the A wave of the correction. At this point in time, a B wave could be estimated as being 61.8% of the A wave ($145.24 - $128.85 or $16.39 in total) which would mean a target of $138.98.
Estimating even further in time, purely as a road map, the C wave could be equal to the A wave which would make the bottom of the correction $138.98 - $16.39 = $122.59.
The above is simply an estimated calculation of what could possibly occur. I now have a final target of $122.59 which can be adjusted as the waves unfold. At least it should give you some idea of what to expect instead of complete guesswork.
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CBA
commonwealth bank of australia.
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$164.72

Looking for resistance on the chart in the current correction, I...
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Last
$164.72 |
Change
0.950(0.58%) |
Mkt cap ! $275.6B |
Open | High | Low | Value | Volume |
$165.02 | $165.98 | $163.40 | $307.2M | 1.863M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 300 | $164.50 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$165.30 | 100 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 300 | 164.500 |
1 | 300 | 164.180 |
1 | 10 | 164.000 |
1 | 300 | 163.900 |
1 | 200 | 163.850 |
Price($) | Vol. | No. |
---|---|---|
165.300 | 100 | 1 |
165.350 | 100 | 1 |
165.400 | 430 | 1 |
165.500 | 1746 | 6 |
165.600 | 121 | 1 |
Last trade - 16.10pm 25/04/2025 (20 minute delay) ? |
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CBA (ASX) Chart |