I bought CSL post the March crash because I felt it would probably resume its historical pattern of a steady increase. Price recovered rapidly and then for 6 weeks has consistently drifted lower. The retracement could be expected as a reaction to the overly quick recovery from March - but where will it stop? Will it slip back to the bottom of the channel (shaded on chart) around $265 or will price start to recover from the usual 50% retracement of the rally after the March low? The jury is out for me but price yesterday closed at that 50% retracement level which is also a level of natural support/resistance - so there is a chance that might stop the rot. The last two daily candles have been very negative. My money (literally) is on the recovery scenario but I'm wavering!
The CSL pattern, page-2
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Last
$287.02 |
Change
-1.190(0.41%) |
Mkt cap ! $138.9B |
Open | High | Low | Value | Volume |
$285.50 | $288.03 | $285.24 | $126.2M | 440.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 10 | $286.92 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$287.03 | 159 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 10 | 286.920 |
1 | 877 | 286.870 |
1 | 46 | 286.760 |
1 | 10 | 286.600 |
2 | 1307 | 286.590 |
Price($) | Vol. | No. |
---|---|---|
287.570 | 1307 | 1 |
287.610 | 75 | 1 |
287.700 | 256 | 1 |
287.740 | 1307 | 1 |
287.900 | 1417 | 2 |
Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
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CSL (ASX) Chart |