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CBA $75.24

interesting chart ...

  1. rembrandt

    5,816 Posts.

    Hmmm... analysts have the Banks as underperform in the near term ... meaning thru to mid 2003 due to drought and other issues.

    CBA in particular is far from the Market darling with CEO David Murray under pressure to deliver or go ...

    Against this we have a chart that looks poised for a nice positive breakout and ready to run ...

    Strong support level featuring nice consolidation with an imminent trendline breakout and supported by a converging RSI would normally have traders 'licking their lips' ... itching to get set.

    If I don't sound convinced it is because I feel we have a situation where the chart says go but the head says no ... so I shall continue to wait patiently.

    Chart looks like this ...

    Cheers ...

    This is only my view ... read the red stuff.

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