https://technicality.me/2015/04/17/cba-chart-review/

CBA rebounds.

I have reviewed CBA on several occasions being a bellwether stock for the banking sector. The last occasion was on the 17th April 2015 after a breakout from a triangular trading range to the down-side at about $93. This warned of lower prices.

Since then the share-price has continued to fall until it found resistance at about $80. It has now started to rebound, encouraging those who sold earlier, to consider re-entry.

A succession of rising candlesticks has lifted the share-price above support to resistance at about $84.50, led no doubt by traders, since the short-term averages have crossed-over and are upwardly directed. The medium-term averages are still divergent from the downward trending but have plateaued, and look to be set to turn upwards.

The implication is that it is probably an opportune time for investment or re-investment in CBA.

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