Technicals | Dec 05 2012
The TechWizard's confidence has increased that CommBank ((CBA)) shares are on their way to set a new all-time high.
Solid dividend yielding stocks are expensively priced, he notes, but from a technical point of view, CBA shares still have the wind blowing strongly in the back.
The shares have now broken through $60 and the Wizard says a run to the all time high of $62.16 from November 2007 seems all but a done deal.
Most stockbrokers have price targets well below the current share price, he observes. As far as the Wizard is concerned, they are being proven too conservative by investors' appetite for yield.
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