CBA 0.04% $79.23 commonwealth bank of australia.

cba analysis - opinions from ultrafart & others?, page-5

  1. 436 Posts.
    Hi Jaysee,

    I'm at least as clueless as you on this one :) ... The big picture looks like CBA is getting ready to slide big time, because all the indicators etc say so, and the chart pattern is saying the same thing. But as likely as that seems, the alternative of yet another new high still remains possible.



    I believe that today's action was just a zig-zag correction to the larger downward trend now underway. CBA must get below $29.25 to confirm this, and a continuation skywards would torpedo the zig-zag correction idea. So I think you're right - the early action tomorrow will probably tell the story - whichever way it starts out, it will probably keep heading in that direction...

    Regards,

    Ultrafart
 
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