CSL 0.11% $288.93 csl limited

Agree. And if the SP was to continue on upward at this point, we...

  1. 904 Posts.
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    Agree. And if the SP was to continue on upward at this point, we would get a PMO positive cross at much much higher prices. I know holders here will not like this, it’s not something I wish to occur now, and I doubt it will, since I would have to pay a massive premium for the stock. If and when the SP comes down as projected, I will base my entry on a daily chart with PMO and other indicators. Look at the daily chart below, for example. The up arrows indicate great entry points. Conversely, down arrows indicate exit points. The SMI is a little quicker than the PMO. At this point, it is threatening to negatively cross its signal line (circled) whilst the PMO is lagging behind (circled). Given the still positive PMO, the SP may bounce back/go sideways to test the last top (like the retests of previous tops a, b, c, d, e, f, g) before starting to trend downward. A retest now will have the SP quite stretched (overbought). The SMI is already overbought. Also, note the divergence(s) with SP. Imo, it is a traders’ market now, not a retail investor's.

    https://hotcopper.com.au/data/attachments/5045/5045104-f44d3770728b60a195b09e3180325c0d.jpg

 
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