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.
Cbalong
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.
CBA (Common Wealth Bank of Australia) potential LongBuy orders set at Support Level dating back to 2012, the Level has not been tested very often, increasing the probability of a bounce. The level also acted as a strong resistance in the past. FIB level seems the most likely target for the bounce. Possible 8.5% + Trade, with high R.
CBA - Long - 6% by End of Year- Just a simple observation, price is bouncing around the level.
- Looking at it , it has gone up for a 2 month period then down for a 2 month period.
- Looking to go LONG , on the DAILY . So possible 6% growth by 2019 .
What do you guys think? Just by looking at the chart on the daily ?