CBA 1.07% $129.92 commonwealth bank of australia.

when to dump?, page-23

  1. 3,728 Posts.
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    Yes, the MACD crossover has occurred. However, the key point here is that the MACD is still well above the zero line! That's in positive territory my friend and is mostly useful for taking profits. A good tip here is to watch the MACD - if it goes down to the zero line and turns upwards that is a very bullish sign, indicating that the uptrend is regaining momentum.

    The key area for CBA here is the support. It's made a nice consolidation pattern that commenced on the big red candle late March. From there it remained above 34, which is its support. Two entry points can be used here. If it goes back down to just over 34 then buy in, but with a stop loss at around 33.44 Or, wait for the next breakout which will be above that tall red candle. If it breaks out above that rectangle pattern (Darvas Box) the next uptrend will resume with very little resistance.
    Once you've bought in consider taking profits at the 39 area, as it will take massive buying power to go past that region.
 
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