The Commonwealth Bank of Australia (CBA) is another bank which has plummeted to lows. I can actually see it finding support soon - around $20-22/share. I'd be inclined to place an order around $20 because I think it will reach those levels during intra-day trading and recover to $22-23 level.Historically the stock has proven strong resistance at $35/share, however is this market I would be surprised to see it exceed $30/share.
Andrew Sheldon www.sheldonthinks.com


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