Break-Up For CBA?

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    [0] => Array
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            [0] => ((CBA))
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    [1] => Array
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            [0] => CBA
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This story features COMMONWEALTH BANK OF AUSTRALIA.
For more info SHARE ANALYSIS: CBA
The company is included in ASX20, ASX50, ASX100, ASX200, ASX300 and ALL-ORDS

By Nick Linton-Ffrost

Commonwealth Bank ((CBA)) has carved out a one month pattern which may provide us with a trading opportunity over the next few days.

The strong bounce after breaking below the pattern indicates the odds may have turned in favour of a rally towards 83.50-84.00.

Before opening longs however we suggest waiting for buy signals between 81.50 and 82.25 over the next few days.

If however CBA trades back below 81.00 for more than 2-3 days we suspect the slightly bearish structure will gain momentum and turn the odds in favour of a move towards 79.00.

Trading tactics

Wait for buy signals between 81.50 and 82.25.

Another trading idea from

Fifth Wave | fwtc.com.au                                               

FW generates over 150 Trading Alerts on the ASX100 each year. We are a subscription service specialising in short term technical strategies based on 27years experience.

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