refer to my monthly chart in a previous post. We assume instos rebalance looking at a longer time frame. Monthly movements would be of special interest to them as they need to lock their positions in for months at a time right? They would have seen trouble brewing as the minor channel struggled for support prior to August 2017. Once the channel was breached, it is likely they saw selling pressure and would have spent the next few months rebalancing (support the SP in the mean time). From a longer term perspective larger capital would be expecting the SP to feel overextended at the lower 25 year trendline. So i think we need to get closer to the low 60s to find some real support.
The $70 line is just to obvious a demarkation line now and I think that probably strips of it of any importance. The important point is that CBA fell out of its 25 year weekly channel months ago and hasnt been able to recover. It needs to find support at the lower monthly channel IMO. I dont believe that capital will support CBA here. Why would you when you can get it a 10% discount from todays price in a the next quarter.
- Forums
- ASX - By Stock
- CBA
- Is shorting this a no brainer?
Is shorting this a no brainer?, page-1171
-
-
- There are more pages in this discussion • 366 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
KAI
Pilbara Minerals buys land off Kairos part of its York gold project for $20M – and a 2% royalty on any PLS gold sales
AVH
Avita boosts skin restoration product portfolio with 'dermal matrix' – a kind of next-level gauze made of fake skin
Add CBA (ASX) to my watchlist
|
|||||
Last
$132.46 |
Change
-3.810(2.80%) |
Mkt cap ! $221.6B |
Open | High | Low | Value | Volume |
$133.50 | $134.25 | $131.66 | $507.4M | 3.839M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 12000 | $132.40 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$132.46 | 20375 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 235 | 132.000 |
1 | 50 | 131.970 |
1 | 1000 | 131.950 |
1 | 151 | 131.930 |
1 | 220 | 131.810 |
Price($) | Vol. | No. |
---|---|---|
132.980 | 150 | 1 |
133.000 | 377 | 1 |
133.200 | 580 | 2 |
133.300 | 376 | 1 |
133.500 | 45 | 1 |
Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
Featured News
CBA (ASX) Chart |