CBA is holding higher lows and ready to break out of contraction

Potential Buy Alert


CBA – Commonwealth Bank of Australia

Stock : CBA – Commonwealth Bank of Australia

Current Price : 81.67

Status : On watch for higher lows

CBA is looking good as we see a major higher low holding at 77.50. Price is also in contraction longer term so we are now watching for higher lows to build as evidence that buyers are stepping in to soak up the selling pressure. The push up through 85.85 resistance recently is a heads up that a new leg higher is building but we still want to see price do some more work.