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Day five: our potential CBA trade

CBA continues to oscillate around the 61.8% retracement of the January to February rally at a$76.07, and as said yesterday the stock seems to lack a catalyst in either direction.

On the daily chart momentum favours further upside, however on the hourly chart short-term momentum suggests modest downside for CBA.

Intra-day good support seems to be coming in around A$75.40.

I detailed yesterday how I am neutral on this name for now, however price action will be far more interesting once it pays out its A$1.83 on Monday.

CBA
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