After an impulsive advance (XA) from the Oct 23 low, CSL has traced out a 3 wave ABC corrective structure.
ABC Corrective structures are typically consolidations before the previous trend resumes.
In the last 4 months price has been trading in a range between $289 & $274.
If you look at the Megenta 18 MA line on my chart it is finally rising.
The last 2 pullbacks are all meeting a rising MA (bullish price action !!!).
We have also overlapped the first swing (OA).(bullish price action !!!!).
The candles above $289 seem to be absorbing the selling & consolidating the move higher.
The best indicator of price wanting to move higher is for prices to contract first (in a tight range) or should start to see narrow range bars.
I agree earnings will have an impact on price in the short term.
After an impulsive advance (XA) from the Oct 23 low, CSL has...
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Last
$300.94 |
Change
-0.720(0.24%) |
Mkt cap ! $146.0B | |||
| Open | High | Low | Value | Volume |
| $303.31 | $303.47 | $299.75 | $67.67M | 228.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3 | $300.91 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $300.96 | 9 | 2 |
View Market Depth
| Last trade - 13.28pm 13/09/2024 (20 minute delay) ? |
| CSL (ASX) Chart |