CBA:ASX is under Algo Engine sell conditions, (as are all banks excluding Macquarie & ANZ), and we highlight the technical lower high pattern at $73.50.
CBA has announced they intend to suspend preparations for the demerger of wealth and mortgage broking business, with no time frame provided. We feel this adds another layer of complexity with executing the business strategy to become a simpler, streamlined business.
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CBA trades on 15x earnings and 5.8% dividend yield.
