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ASX Stock Trade Signals Update Elliott Wave WBC CBA 1 May 2019

ASX Stock Trade Signals Update Elliott Wave WBC CBA 1 May 2019

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ASX Stock Trade Signals Update Elliott Wave WBC CBA 1 May 2019

Part Healthy Profit Taken

The Westpac Banking Corp ASX: WBC (second chart below) trade has much the same profit numbers as Commonwealth Bank ASX: CBA, and part of the reason for taking the banks as a trade, is based off the resources topping out. Before these bank trades I pointed out during the ASX200 Elliott Wave video that Iron Ore and RIO are topping out and would see Resources correcting while finance will turn bullish and this trade idea was spot on.

Commonwealth Bank of Australia ASX: CBA
Entry Date: 12 April 2019
Entry: 70.47
Stop: 69.92
Risk: $250
Part Profit: 73.29 = $640
Current Profit: = $ 1,028
Total Profit: = $ 1,668
equals 6.7 times the risk.

CBA Daily Chart

CBA-Daily

 

WBC Daily Chart

WBC-daily

 


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ASX Stock Trade Signals, WBC,  CBA, Elliott Wave, technical analysis, ASX: A2M Elliott Wave, ASX Elliott Wave, APX Elliott Wave, ASX100 Elliott Wave,  Elliott Wave technical analysis,

 

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