fastenyourseatbeltYep, I see resistance at that level but it's a...

fastenyourseatbelt

Yep, I see resistance at that level but it's a fairly relative indicator as the sentiment could become more dynamic therefore the resistance level may also be adjusted. If we are to speculate multilaterally about the SP in near future [3-12months] the technical graph indicators surely point out that CSL is closer to a buy rather than a sell signal [depends on one's interpretation]. Personally, I will continue to top up on weakness/dips.

Having the share buyback process now in place, it will gradually but surely help build the SP in near term. Final dividend date is rapidly approaching which will add a few cents to the SP. In addition to that and apart from mentioning how strong, healthy and profitable CSL's business model is the current global economic climate would suggest that if we are to have a correction defensive [health] stocks would be a safer heaven for many investors [as it has been the case over last 10-14 trading days]. Even through that period share buyback process would not stop, in fact the broker would be encouraged to keep buying but at the same time his presence in daily/weekly market activities would fortify the SP. The SP will spike up again with the news when the Swine flu vaccine order is fully manufactured and ready to be shipped. Media will play its part in it [a month away].

However, if we are more optimistic and if we say that a bull market may be born again [soon] the SP will continue its uptrend journey at an accelerated pace.

To sum it up, if the management does not make a cardinal mistake in midterm, [highly unlikely] an increase of 15-20% in share value is not an unrealistic speculation even in current market climate.

I would love to see a more round number [40] but will settle for more conservative price of $38.00 any day. Cheers.