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
$309.52 |
Change
1.420(0.46%) |
Mkt cap ! $149.5B | |||
| Open | High | Low | Value | Volume |
| $307.00 | $309.75 | $306.70 | $145.9M | 481.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 796 | $309.46 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $309.53 | 304 | 1 |
View Market Depth
| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| CSL (ASX) Chart |