Charts don't look good, trends are down and with the housing slump and 60% of domestic housing loans tied to this i would be betting on 40 to 45 dollars between now and christmas. Property market bubble has popped IMO and at least another 20% to 40% to go. once CBA breaks through 47 it will go down fast....thats if it does of course...
The banking index is also looking weak in general and still looks a short at this stage.
In my opinion I have a bias towards sell but would not be in long on this one...Once this finds 50 as a support....ie goes through and then comes back on support i would buy....but right now if anything its a sell.
Good luck traders!
Charts don't look good, trends are down and with the housing...
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Last
$149.32 |
Change
2.060(1.40%) |
Mkt cap ! $249.8B | |||
| Open | High | Low | Value | Volume |
| $148.41 | $149.73 | $147.41 | $285.2M | 1.937M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2702 | $149.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $149.40 | 20 | 1 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| CBA (ASX) Chart |