Please excuse the repetition here but from a technical standpoint CBA looks almost too good to be true targeting the $110 area, just before it reports next week and trades ex-dividend later in the month. The stocks doubled from its panic COVID low and MM’s preferred scenario is a period of consolidation between $96 and $110 over the coming months with of course 1-2 healthy dividends being thrown into the mix along the way. Assuming we are correct the implication is the ASX200 is likely to consolidate its excellent year in the coming months, after scaling fresh highs, either way MM remains primarily a buyer of dips.
MM remains bullish CBA targeting the $110 area
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