The CBA 2014 results will be released next Wednesday. CBA represents 8.7% of the entire value of the All Ordinaries Index. What happens to its price is pretty important for general market sentiment.
Last week’s surge into new high territory has been short lived at this stage. The move back below the $82.03 trend peak is a minor sign of nervousness. What will be more interesting from a chart point of view is whether or not CBA can hold support of its 20 and 40 day moving averages plus the old trend line resistance. A clear move below this might bring the major support around $79.84 back into play