I was listening to a Money News podcast last night and heard this exact same thing. this recent downward pressure on CSL is mainly due to fund managers moving their money around quickly, trying to make some decent gains prior to the EOFY and the ranking of their funds on the leader boards.
this being said, the logical argument is that the buying will return once the banks have completed their run and the rankings are over.
highly recommend a listen, good bits start at the 2min mark. can't post the link so find this podcast where ever you get your podcasts CSL even gets a specific mention at 6:30min.
CSL has more downside...and chat, page-613
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Last
$308.05 |
Change
2.510(0.82%) |
Mkt cap ! $148.8B | |||
| Open | High | Low | Value | Volume |
| $307.94 | $309.48 | $306.35 | $254.8M | 840.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 268 | $307.92 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $308.23 | 139 | 2 |
View Market Depth
| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| CSL (ASX) Chart |