Commonwealth Bank Is Trading At An All-Time High

CBA is currently trading at new all-time high of $75.47.

This breaks its 4 month range, and could see the price rise sharply.

This is big.

While the other banks will perform well, as they are nearing their ex-dividend date — when franking credits and cash flow will be paid to shareholders — there is no such event for CBA.

Chart Courtesy of www.incrediblecharts.com

So if CBA can close above yesterday’s high of $74.99 then the technicians suggest that a measured target, based on the size of the wedge, is close to $85.

Australia’s superannuants will be cheering.

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