And this is why I'm bearish short term.
Two prominent bearish candle patterns formed at a known resistance level - the gap during March '09.
This came after a strong month long rally that saw it gain 20%.
A large gap formed near the start of that rally that I believe will need to be filled. That gap also coincides with two previous swing highs and will most likely form a key support area in the future.
There was an almost identical move in August with a large bearish engulfing pattern and a short term double top like now. An identical down move would see the gap filled.
I'm also a believer in long term uptrend lines acting as magnets, drawing share prices back to reality, keeping rises slow and steady.
Cheers,
10cents
credit suisse - $40.50, page-46
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Last
$281.62 |
Change
-5.330(1.86%) |
Mkt cap ! $136.3B | |||
| Open | High | Low | Value | Volume |
| $284.41 | $285.00 | $281.62 | $174.0M | 612.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 997 | $281.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $282.64 | 997 | 1 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| CSL (ASX) Chart |