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CBA $75.90

bounce maybe...

  1. gaweb

    2,154 Posts.

    todays action indicates perhaps a bounce is forthcoming.
    if today's lows stay in tact we have a double tweezer bottom where bulls are determined to keep prices above 26.55.
    this usually signals a potent bounce, but when banks are concerned, am quite hesitant to pick the bottom, so not sure, if you decide to trade the CBA chart and trade calls, may i suggest to factor in the cum-dividend. may get a bounce to 27.30, 28 at best.
    i usually trade these patterns with some success and i may open a long possie e.o.d, pending on price action.

    keep in mind that if you're going to trade a-t-m derivs that expire in february, do yourself the justice and take weekend theta or time decay into account, so perhaps shorting puts may be a better idea, instead? - prefer to short the bounces in all honesty when banks are concerned.. just some simple thoughts.

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