stage 2: 65-64 zone please note these are my own notes for future reference, by no means trading advise to anyone. I think I can see Elliott Wave pattern but not sure how it's going to happen in current market situation. if we have price /volume comparison, it's pretty obvious that market likes the price between following ranges based on volume: 1. Commonwealth Bank of Australia (CBA.AX) (ASX:CBA) posted its earnings results on Wednesday, August, 7th. Commonwealth Bank of Australia - cba. I think now we should soon see price going up to 73.30. Not to be left out, ANZ (ASX: ANZ) used a “base case” forecast which assumed a 4.1% decline this year and a 6.3% fall in 2021. please do your own research before... i think currently market is trying to consolidate and soon it will resume up trend and bulls will take control of market, because: Get today’s CBA share price, latest stock chart and CBA company news. I think the trend is still upwards (which is great) but for next few days price will swing between support & resistance 72.300 and 74.50. All rights reserved. He has covered a wide range of small and large cap ASX stocks and has a special interest in mining, technology and biotech. please subscribe to receive more analyzes. 70 - 72 range stage 3: 62-61 zone. P.S: these are my notes for future reference, by no mean trading advise to anyone. May P.S: Not a trading advise, my own notes for learning and future reference. Not sure if we retest March lows, but at least another 5%-10% to go, Hi friends The open question is what happens when those payment deferrals come to an end in September and that is a scenario that is very difficult to predict given the unusual nature of the COVID-19 pandemic which has stalled so much of the Australian economy. View Commonwealth Bank of Australia (CBA… There may be a conflict of interest present with commercial arrangements with companies and/or stock held. These are the amounts the banks think will be needed to have on hand to deal with the slew of loans that turn bad and obviously these numbers can go further up or down if circumstances change. 2. It's still in bearish trend, though on daily chart touching 200 days moving average. P.S: please note these are my own notes for future reference, by no means trading advise to anyone. P.S: These are own notes for my future reference and by no means trading advise to anyone. However, the tidings for property prices have certainly taken a turn for the worse, which is something of a rarity in Australia’s recent history. CBA Share Price Movement: $0.32 ( 0.50% ) Prices as at 16:40, 2 Oct 2020 + Security prices are delayed by at least 20 minutes and are indicative only. please do your own... As it was noted that we should see higher value in this range and price not fall below 200 days moving average. as we can see in weekly, daily and 4 hourly charts. while looking for good entry position for long. It was far from alone with this sort of scenario – National Australia Bank (ASX: NAB) also ran a prediction, which assumed a fall of about 30% in property prices. View announcements, advanced pricing charts, trading status, fundamentals, dividend information, peer analysis and key company … 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. Westpac (ASX: WBC) had a “base case’’ scenario which assumed a 15% slide in house prices this year and another 5% decline next year. Could super early release be used to pay the mortgage? I think, it's pretty evident that price likes the range of $80.00. graph and markings are pretty much self explanatory... World’s largest wealth fund pulls US$1.6bn from coal companies, puts BHP on notice, Kyckr strikes deal with Germany’s second-largest bank Commerzbank, Afterpay joins forces with Westpac to offer banking-as-a-service to Australian customers, Demand for food forecast to rise creating a growing market for potash fertilisers, Glencore in talks to supply nickel to EV battery makers as Macquarie predicts supply crunch by 2025, Weekly review: RBA unleashes pincer movement to get Australia growing again. John is a highly experienced business journalist and formerly chief business writer for the Herald Sun. p.s: please note these are my personal notes and by no means trading/ investment advise to anyone. When bad loans start to mound up and property prices reverse strongly, even a well-capitalised bank can suddenly look cash strapped. I will probably wait for $67.00 to $68.00 range. please do your own research before entering into any trade. I think we should cash some profits at $75.00 range. 70 - 72 range based on last … Commonwealth’s base case scenario would see the Australian economy shrinking by 6% this year, before bouncing back with 6% growth in 2021 and growth of 3% in 2022. Recommendation. 3. The shock forecasts were contained in a Powerpoint slide for CBA's investor presentation. let'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. I think it would be good idea to load up some shares at around 67.70. I think there is still a lot of room to up - still my eyes are on the range of $78 - $80 range. Small Caps and affiliated companies accept no responsibility for any claim, loss or damage as a result of information provided or its accuracy. 3. most of the volume is in the range of $70.80 - $72.20 range which is above 200 days moving... if we have price /volume comparison, it's pretty obvious that market likes the price between following ranges based on volume: the daily chart of this market shows with a high probability that it will experience a downtrend in the coming days but it is also better to be vigilant on the change of direction towards the reverse i don't see major support if 67.70 support fails, in that case price would go all the way down to around $60.10. View today’s CBA share price, options, bonds, hybrids and warrants. Current price. Commonwealth as the largest bank has set aside the most at $1.5 billion, which takes total provisions for bad and doubtful debts to $6.4 billion. Commonwealth chief executive officer Matt Comyn described that outcome as “very difficult to forecast’’. The information provided on this site is general in nature, not financial product advice, see a financial expert before making any investment decision. based on last one year data,I think 77 to 78.50 range is actually where more trades took place than 70 - 72 range. With the Commonwealth Bank (ASX: CBA) outdoing all of the others with its “worst case’’ forecast that house prices could fall by an amazing 32% by the end of 2022. Commonwealth Bank of Australia (CBA.AX) (ASX:CBA) posted its earnings results on Wednesday, August, 7th. be good strategy for long position is to buy in stages. Let’s look more closely at what is actually happening at Commonwealth so far as it deals with the economic carnage caused by the COVID-19 pandemic. Perhaps the most accurate way of looking at the problem is through the prism of the provisions the banks have made to cover losses from the COVID-19 recession. The Australian Financial Review reports the latest news from business, finance, investment and politics, updated in real time. Small Caps is Australia's #1 site for market news & information on ASX listed small cap companies. 67-69 range This would produce the average 32% fall in house prices. Free independent share market investing advice from The Motley Fool. The bank said it had received repayment deferral requests on about 71,000 business loans worth more than $15 billion, 144,000 home loans worth $50 billion and 25,000 personal loans. P.S: please note these are my own notes for learning purpose, by no means trading advise to any one. It may look like the banks are trying to outdo each other with pessimism but, in reality, these sorts of predictions are vital in banking, which is a highly leveraged business that always needs to assume the worst and hope for the best.
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