CBA is trading around NTA so looking for an entry.
Futures may currently be showing 200pts up but I feel we will see it again in the red tonight. The retracement for the DOW has come back to 50% of the last range down and there is a lot of pressure IMO to head down again, especially with the oil price tanking.
The Trump Administration is certainly not dealing with COVID-19 in a manner that is conducent with an early or speedy recovery and to me he is pandering to the masses for votes for the next election and certainly not dealing with the problems at hand. Quiet frankly he is like a fish out of water and is grasping at straws.
My opinion is the market will head lower and looking at the CBA chart the price is following the EMA 12 down. It retraced up to the 36 EMA and heading down on numerous indicators again. If it breaks through $53-50c again CBA could move lower to around $42-00 at resistance
If not it may form a double bottom at $53-50c and head back up.
Time will tell
CBA is trading around NTA so looking for an entry.Futures may...
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Last
$120.73 |
Change
-0.770(0.63%) |
Mkt cap ! $202.0B | |||
| Open | High | Low | Value | Volume |
| $120.72 | $121.00 | $120.23 | $185.2M | 1.535M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2176 | $120.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $120.74 | 1003 | 1 |
View Market Depth
| Last trade - 16.10pm 23/05/2024 (20 minute delay) ? |
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Last
$120.53 |
Change
-0.770 ( 0.78 %) |
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| Open | High | Low | Volume | ||
| $120.71 | $120.97 | $120.25 | 246151 | ||
| Last updated 15.59pm 23/05/2024 ? | |||||
| CBA (ASX) Chart |