I've discounted the probability of much further upside for CBA in the current up-trend. (See post above).
Here's a hypothetical:
If we do start to see a retracement using price action, then I'd be looking for a retracement into the 50%-61.8% zone of the previous up-trend.
That would give us a possible pull-back from around the 159 level to the 147-150 level.
A pull-back to that level would probably make for a good start to a Santa Rally for CBA.
Just a thought bubble.
RB
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Last
4,871.8 |
Change
34.700(0.72%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 4,837.1 | 4,882.1 | 4,825.7 |
| XTL (ASX) Chart |