Let's learn from history how our "NVIDIA" i.e CBA performed
In 2014-15, CBA rose 25.4% over 6 months, only to give up all of it and more the following 11 months.
In 2019, CBA rose 20.7% over 10 months, and gave back and more over just 2 months during the Covid crash
Now CBA has risen 31.1% since Oct 23 lows and looking overstretched, the period of the rally is 8 months which is between 6-10 months of prior length of rally, which likely mean it won't be long before this current rally ends. And if does what the 2 prior precedents did, a -30% loss would bring it back to $89.60 which is at the April 2021 level and sitting perfectly at its $90 major support level.
..imagine what a -30% fall in CBA do to the ASX index?
..Conclusion: IMO not the right time to be buying quality but overvalued stocks at just about the time that US market faces a similar risk like the dot.com boom-bust of 2000.
Column 1 Column 2 Column 3 Column 4 0 CBA 1 Sep-14 $ 74.90 2 Mar-15 $ 93.91 25.4% 6 months 3 Feb-16 $ 70.14 -25.3% 11 months 4 5 Mar-19 $ 70.64 6 Jan-20 $ 85.26 20.7% 10 months 7 Mar-20 $ 61.82 -27.5% 2 months 8 9 Oct-23 $ 97.80 10 Jun-24 $ 128.19 31.1% 8 months 11 ?? ?? ??
All time view
CBA Stock Price and Chart — ASX:CBA — TradingView
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