Commonwealth Bank of Australia CBA, 62% weekly Fib Level. BUY!!Looks Like Price is retesting the 62% weekly Fib Level.
CBA
A potential dead cat bounce A potential dead cat bounce
I am expecting a test of the top of the channel if prices break 94.30, areas of interest at 95,97, and 100
CBA (ASX) - Elliot wave and Potential zones of interest
Elliot wave complete since COVID March 2020 low
Projecting FIB targets for a zone of interest to potentially start accumulating or pyramiding long.
A confluence of FIBS with Key horizontal Support, moving averages (200EMA), and Ichimoku.
Wait for base to form and confirmation before entry and market sentiment to support the bais.
CBA Daily TimeframeSNIPER STRATEGY
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CBA.AX (CBA) ShortSome #ASX bellwethers are showing that the market is about to rollover. Take a look at the $XJO chart (interesting geometry) and the $CBA.AX and $MQG.AX charts. The $CBA chart in particular looks like an alarming short setup.
ASX:CBACommonwealth Bank, one of my safer stocks to watch.
With an uptrend that felt like it would never end, we finally have a good buying opportunity on our hands.
Uptrend and downtrend are both coming to a squeeze on a support/resistance line.
Looking to buy in around the $98 support if price holds.
Otherwise letting it drop and hoping to get in at the $87 support line.
DYOR
I hope this helps someone
CBA - retrace and up CBA should retrace towards Christmas and head up much higher after Christmas.
I am projecting a 6 days count from Dec 11 to the top of Dec 17, then another 6 days down to Dec 23.
Forecast, CBA will turn up on Dec 24.
Golden Cross on CBA EMA'sThe golden cross is a technical chart pattern indicating the potential for a major rally. The golden cross appears on a chart when a stock's short-term moving average crosses above its long-term moving average. The golden cross can be contrasted with a death cross indicating a bearish price movement
Australian Big 4 Banks look disgusting30 year trend broken in March. Not sure if we retest March lows, but at least another 5%-10% to go
waiting for $67.70 rangeIt's still in bearish trend, though on daily chart touching 200 days moving average.
It's one of the favourites and stable asset to hold, but overbought and overvalued.
I will probably wait for $67.00 to $68.00 range.
P.S: Please note these are my own notes for future reference and by no means trading advise to anyone. Please do your own research before entering into any trade.
let it settle down and trade come to you ~ $72.00I think I will be looking for entry at around $72.00 range.
also, it's important to note how it progresses after 12th Aug 2020.
I think there is still a lot of room to up - still my eyes are on the range of $78 - $80 range.
P.S: please note these are my own notes for future reference, by no means trading advise to anyone. please do your own research before entering into any trade.
Let's see what 12 Aug 2020 brings to us...graph and markings are pretty much self explanatory...
P.S: Not a trading advise, my own notes for learning and future reference.
sit tight & get ready to ride upi think currently market is trying to consolidate and soon it will resume up trend and bulls will take control of market, because:
1. price is continuously above 200 days moving average.
2. during last three weeks for 5 days price gone above 50 days moving average.
3. most of the volume is in the range of $70.80 - $72.20 range which is above 200 days moving average and pretty close to 50 days moving average.
4. based on last one year volume price comparison next targets should be:
4.1. $77.00 - $78.50 range
4.2. $78.50 - 80.00 range
I think we are not to far from upwars breakout.
if you like my ideas please give me thumbs up or leave comments. i think not may people are sharing their idea on this asset. i would really appreicate and incouraging if you consider donating some Tradingview coins.
P.S: These are my own notes for future refernce, by no means trading advise to anyone. please do your own research before entring into any trade.
Prive Volume Analysis - $77 - $78.50 range is possibleif we have price /volume comparison, it's pretty obvious that market likes the price between following ranges based on volume:
1. 67-69 range
2. 70 - 71 range (current range)
3. 70 - 72 range
based on last one year data,I think 77 to 78.50 range is actually where more trades took place than 70 - 72 range.
given this scenario, I think if we get some decent volume and some good news price will easily touch 77 - 78.50 range.
I am still pretty bullish on this asset, as it's holding it's position very well.
p.s: please note these are my own notes and by no means trading advise to anyone. please do your own research before entering into any trade.
What goes up ... comes downwhile looking for good entry position for long.
from this point 71.20 down trend continues, the only good support is at 69.86 and next support at 67.64 doesn't look very strong neither 65.09.
if price continues falling then I think it will only stop at ~ 58.68.
P.S: these are my notes for future reference, by no mean trading advise to anyone.
wait for 69.50 and then 74.40I think the price won't fall below 200 days moving average, for next couple of days we may see a down trend may come around 69.50 but from there we should see upwards trend to touch 74.40 ...
P.S: please note these are my own notes for learning purpose, by no means trading advise to any one. please do your own research before entering into any trade.
we should see high volume between 69.11 to 67.70if today's price closes at or below 69.00 then tomorrow we should see higher volume between 69.11 to 67.70 range.
I think it would be good idea to load up some shares at around 67.70.
P.S: These are own notes for my future reference and by no means trading advise to anyone. please do your own research before entering into any trade.
next target $75.00 rangeI think we should cash some profits at $75.00 range. I am expecting price to touch $75.00 range pretty soon.
p.s: please note these are my personal notes and by no means trading/ investment advise to anyone. please do your own research before entering into any trade.
just hold on to it and wait for $80 rangeI think, it's pretty evident that price likes the range of $80.00. as we can see in weekly, daily and 4 hourly charts.
I think if we are holding then we should just simply hold on to it and wait for the price to touch $80.00 range.
p.s: please note these are my own notes for my learning/ future reference, by no means trading advise to anyone. please do your own research before entering into any trade.
next 73.30As it was noted that we should see higher value in this range and price not fall below 200 days moving average.
I think now we should soon see price going up to 73.30.
p.s: these are my own notes for future reference and by no means trading advise to anyone. please do your own research before entering into any trade.
what if 67.70 support failsi don't see major support if 67.70 support fails, in that case price would go all the way down to around $60.10. next considerable support zone are 67.50, 65 - 64 then 62 - 61. May
be good strategy for long position is to buy in stages.
stage 1: 67.70 zone
stage 2: 65-64 zone
stage 3: 62-61 zone.
P.S: please note these are my personal notes for my future refernce and by no means trading advise to anyone. please do your own research before entering into any trade.
let the trade come to you at ~ $69.81I think it would be a opportunity to buy at ~ $69.81.
please note these are my own notes for future reference, by no means trading advise to anyone.
next support line 71.66let's see how support line at ~71.66 supports the price, doesn't look very strong support line and with given COVID-19 second wave updates from VIC, NSW and QLD, let's how all these reflect on price for now it's all favouring the BEARS.
