Commonwealth Bank of Australia Stock Price Prediction: What Next In CBA?

The Commonwealth Bank of Australia is a bank that offers different kinds of services. It has these parts: Retail Banking Services, Business Banking, Institutional Banking and Markets, New Zealand, Corporate Centres, and Wealth Management. Retail Banking Services helps customers with loans, credit cards, and savings accounts. Business Banking helps businesses and farmers with banking needs, high net-worth individuals with private banking services, and investors with CommSec.

Market capitalization for CBA stands at $170.582 Billion, revenue at $57.87 Billion, net income at $29.02 Billion, and earnings per share (EPS) at $5.91. The price-to-earnings ratio is 18.16. Commonwealth Bank of Australia’s average trading volume for the last 24 hours is 2.085 Million. The average volume for the last 10 days is 1.911 Million.

Commonwealth Bank of Australia Technical Analysis

On the daily time frame, the price of Commonwealth Bank of Australia. is above the 50-day and 200-day MAs. However, the situation is uncertain because after it broke the 200 MA, it faced another trendline resistance, and it formed a hanging man candle. Therefore, the price direction is unclear at the moment.

The RSI value of CBA stock is currently 62.12 points. The 14 SMA line is below the middle line, around 55.92 points which shows bullish momentum in the market. The price is shifting toward the oversold area.

The MACD indicator is also heading to a positive zone indicating the price rise. The MACD line at 0.709 and signal line at 0.528 is above the zero line.

The super trend indicator shows a green signal, indicating a bullish mood. This suggests that CBA’s stock will likely break its trend, creating excitement for traders and investors.

Summary

Commonwealth Bank of Australia’s stock is showing signs of a bullish trend. The price is above the moving averages, the RSI is rising, the MACD is positive, and the super trend is green. However, there is still some uncertainty as the price faces a trendline resistance and forms a hanging man candle. Therefore, traders and investors should be cautious and watch for a clear breakout or reversal before entering a position.

Technical Levels

Support Level – The current support level is $101.50.
Resistance Level – The current resistance level of CBA stock is $106.50.

Disclaimer

The research given in this article is for informative and educational use only. Do not take this information as a financial or trading recommendation. Trading and investing have financial risks. Please consider your risk profile and circumstances before creating any investment or trading decision.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing