CBA corrected over 16% from its mid-November high as the Australian Banking Sector revealed increased margin pressures. CBA has a history of regaining investors confidence and we wouldn’t be surprised to see another test of the $110 area into 2022 but we believe the time to carry an aggressively overweight banking exposure has passed. Interestingly the technical and seasonality pictures are both very bullish.
MM is mildly bullish CBA into 2022
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