The Aussie Banks may have stopped going down today by breaking their respective intermediate downtrends that started in April. A buy for me on ANZ, CBA and WBC today.
Commonwealth Bank (ASX:CBA) if this can get to the gap fill at $90.57 by mid August, it is going straight to The Pool Room. Notes to self from April looking about right so far…A weekly close however below my uptrend (Green arrow on CBA) will render this wrong.
And, ANZ chart although not shown here is looking about the same with a small break of downtrend today.
Update 25 June
Took profit on 20% of my CBA at $87.40 (+$5.00 per share) to lock in some gains and also in case Greece talks aren’t resolved/concluded. Took a bit of profit off the table for ANZ and WBC too. Risk management is key. Still believe that $90.57 if not higher is achievable on CBA.
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