CBA – Commonwealth Bank of Australia

Commonwealth Bank of Australia (ASX:CBA) should trot this week into short term resistance around the $77-$78 area.

11/2 Midday
Sold 40% of trading parcel at $75.59 (+$1.20) to reduce risk heading into tomorrow’s half yearly report. Still believe report will be good and short term target likely.

12/2 10:02am
Sold 30% at $76.91 (+$2.52) so average on remaining 30% trading parcel now $69.43 (+$7.48 on remaining 30%). Hold remainder of trading parcel and long term hold and collect dividend.

This article is published by Dean Mico.

Disclosure: The Edge Fund owns shares and has also added a short term trading position in Commonwealth Bank.

The information provided in this article is intended for general use only. The article is intended to provide educational information only. Please be aware that investing involves the risk of capital loss. The information presented does not take into account the investment objectives, financial situation and advisory needs of any particular person, nor does the information provided constitute investment advice. Under no circumstances should investments be based solely on the information herein.

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