Yes they are on the way down (and about time too) - only CBA has not broken trend yet.
NAB looks the weakest. It has broken back thru the reverse H&S neckline around 33 (extremely bearish). All bull calls of a retest of the top are therefore off.
I had a feeling this might happen - the setup has been a real bull trap.
It is alleged that the bulk of selling is coming from Asia who are seeing Oz banks as overpriced next to their own, and with the Oze$ topping out, they are pulling back exposure.
looks like cba will be going down!, page-20
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 (20min delay)
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Last
$134.01 |
Change
-0.340(0.25%) |
Mkt cap ! $224.1B | |||
| Open | High | Low | Value | Volume |
| $134.30 | $134.50 | $133.00 | $143.2M | 1.070M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 158 | $134.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $134.02 | 21 | 2 |
View Market Depth
| Last trade - 14.40pm 27/09/2024 (20 minute delay) ? |
| CBA (ASX) Chart |