Our ALGO engine triggered a sell signal for CBA on November 13th at $81.55.
Since then, the share price has dipped to $78.00 but has lifted on year-end buying to $80.40.
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The internal momentum indicators are pointing lower and we expect to see a break of the $78.00 level early in the new year.
Clients who are selling CBA short on the SAXO Go platform can place a stop in the $81.70 area, with an initial profit target near the November 3rd low at $77.20
Commonwealth Bank
