When solid companies like this get a sharp drop, you know that everyone from technical traders to value investors to institutions is going to look to buy or top up as soon as they are confident the dip has passed.
add a large number of long term buy and hold investors who are way above their buy in price, a company buyback and a good growth outlook to the equation and you have a nice basis for a quick SP recovery once the general market jitters have settled in the next week or so and once a short term technical inflection point has formed.
im guessing there are a lot of buyers with an open order around $100 who missed out, and I'm guessing any shorters (of which there aren't many according to reports) will be covering if they haven't already.
I'm feeling very good about buying in at $101 right now for a medium to long term hold.
CSL Decline, page-75
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Last
$302.42 |
Change
4.760(1.60%) |
Mkt cap ! $145.6B | |||
| Open | High | Low | Value | Volume |
| $300.00 | $302.49 | $299.34 | $106.1M | 353.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 67 | $302.42 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $302.43 | 118 | 5 |
View Market Depth
| Last trade - 15.32pm 11/07/2024 (20 minute delay) ? |
| CSL (ASX) Chart |