CBA Set to Take Breather?
The forecast for Commonwealth Bank stock prices is steadily higher through to the end of December, however, it looks like a very short-term consolidation or even pull-back is likely. The ideal buying opportunity is shown in the chart when the oscillator is bright green as this oscillator is always green when the stock makes a medium-term low. When the oscillator turns bright red it typically signifies a short-term high in the next few days and an opportune time to sell a call option, in expectation of either a slowing of momentum or slightly lower prices. Based upon the analysis it would appear prudent to await a better buying opportunity than what is currently shown.
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