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$8.92 csr limited

CSR could be a good long term trade, page-2

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Mice00

737 Posts.

78

07/09/20

10:54

Post #: 47136763
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Originally posted by Greynomad73: ↑

Probably not one for the wheelers and dealers on this site who love low value stocks.

CSR is a potential long term trade with a backtest showing the 5 positive and no losing trades from 2015 to the current date using a downtrend line break (or a higher low followed by a higher high in an uptrend) for an entry and a 10% stop loss or uptrend line break as an exit signal. I’ll have a video of this backtest shortly.

Based on the backtest entry rules CSR made a buy signal last week for an entry on the open of this coming week.

Elliott Wave count is unclear but I’m thinking the March low was the end of Wave 2, putting price on the start of Wave 3 which (if correct) is the best time in a price cycle to buy. Stock is in an uptrend because the March fall was too short in time to qualify as a formal downtrend so the previous uptrend remains in force. Price is also coming off a significant low (the blue dashed line on the chart) meaning the potential for a fall below that support is low. And, in our big drop on Friday, CSR was one of the few stocks to be in positive territory.

I can’t find too many reasons not to buy CSR next week.

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You were spot on judging by the movement today. I'll have to keep a close eye on any future analysis of yours, cheers

CSR Price at posting: $3.86 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $8.92		Change 0.010(0.11%)		Mkt cap ! $4.253B

Open	High	Low	Value	Volume
$8.92	$8.93	$8.91	$3.468M	388.9K

Buyers (Bids)

No.	Vol.	Price($)
55	253636	$8.91

Sellers (Offers)

Price($)	Vol.	No.
$8.92	155014	121

View Market Depth

No.	Vol.	Price($)
49	234186	8.910
11	773105	8.900
9	1266538	8.890
6	193998	8.880
7	148535	8.870

Price($)	Vol.	No.
8.920	165486	119
8.930	46854	14
8.940	8791	6
8.950	61341	15
8.960	50450	5

Last trade - 14.23pm 23/05/2024 (20 minute delay)


Last $8.92			Change 0.010 ( 0.15 %)
Open	High		Low	Volume
$8.91	$8.93		$8.91	106199
Last updated 14.41pm 23/05/2024 ?

CSR (ASX) Chart