17/07 Indices, page-25

https://www.livewiremarkets.com/wires/macquarie-s-asx-august-reporting-season-guide-a-must-read-for-investors
This report published today included:"Look to oversold healthcare and staples names.CSL (ASX: CSL) and ResMed (ASX: RMD) are two of the most oversold companies on the index ..."

I wonder how often does it happen that a stock gets spruiked by a major player and then promptly falls? Whatever, CSL looks over-ripe for a swing trade.

Between November and April, the CSL chart looks similar to the XJO chart. Then from mid-April, CSL outperformed the XJO. Then on 14th June CSL nosedived after it reported a foreign currency headwind. CSL also reported that NPATA was growing, so I think that the livewire report is right that CSL is oversold and I am expecting its SP to recover substantially.

To put it another way, in my opinion a long punt on CSL should now be less risky than a long punt on the XJO. But CSL just keeps falling. What the...?