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Commonwealth Bank (CBA) $90.47

As we mentioned earlier Westpac (WBC) has been crunched ~20% over the last fortnight but today we’ve focused on CBA, the quality end of town. CBA has dipped over 16% from its April high which arguably could be called a new all-time high if we took into account the Februarys dividend. We are slightly underweight the banks at present which feels right but if we were to increase our exposure it would be through CBA, or NAB. However, at the moment sentiment is not in their corners and we can see them continue to struggle even with a ~4.88% yield over the coming 12-months.

  • Technically for the chartists among our subscribers we are 50-50 which pretty much sums up how the economy feels at present.
CBA
MM is not planning to increase our CBA exposure
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Commonwealth Bank (CBA)
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