This is till part of our series covering Australian stocks and plotting buy and sell signals for both quick and position traders. We first covered a rival bank, Westpac. That’s what’s nice about stocks, the fundamentals and technicals would apply for any market in the world! As long as you know what parameters are worth looking at you would be able to analyse and study different stocks from different markets! I’m excited to share all of that in Stock Smarts Australia this November! If you are from the area I’m excited to meet you!
For readers who are from the Philippines, the Commonwealth Bank of Australia (CBA) is one of the 4 biggest banks in Australia! It had profit of 9.23 Billion AUD last 2016 and has seen a steady rise of income over the past 5 years! As what I always say in our fundamental analysis classes, that we always follow earnings of companies because if the company is earning buyers normally come in and more buyers bring the prices up.
So now the question still remains, at what prices should you buy, sell or avoid CBA?
Catch me in my live training events! (quick plug)
The heart of why I do this seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more on how you could time the market checkout the trainings below.
Stock Smarts Davao — October 20 – October 22, 2017
Stock Smarts Malaysia — November 4 – November 5, 2017
Stock Smarts Sydney, Australia — November 11 – November 12, 2017
Stock Smarts Qatar — November 16 – November 19, 2017
Stock Smarts Singapore — November 25 – November 26, 2017
Stock Smarts Manila — December 2, 3, 9, 10 & 16 , 2017
Stock Smarts Taiwan — December 21 – December 22, 2017
Stock Smarts Cagayan De Oro — January 13 – January 14, 2018
Stock Smarts London, United Kingdom — January 26 – 28, 2018
1. Should CBA retrace and drop, the best place to buy is at 73.2 and then sell at the next resistance at 78. This represents a quick trade of 6.3%.
2. The stock is currently close to the resistance at 78, please avoid this stock first until we see what happens next.
3. Should CBA breakout of 78, it becomes a buying opportunity for those who have cash. For those who are already positioned hold your stocks as it may go to 81.95, this represents a 5.4% trade from the breakout.
4. However should the breakout progress, the next target price is pegged at 84.3. This gives you a possible 8.3% quick trade gain for you.
The stock is still currently bearish and no reversal yet insight. Please watch for the resistance at 82. Should the stock breakout from 82, the stock now turns bullish! If you are a position traders this would be the best opportunity to come in. Again if the stock fails to hold 82, you must cut loss.