These corrections are healthy for stocks with high valuations. Last time CSL corrected was the second half of 2016. Dropped around 20% from its highs to about $90. Don't be surprised if a similar pattern plays out here and it trickles sideways-to-negative for a while.
Personally, I chipped down about 20% of my holding last week with a vision to buy that bundle back when this sell-off came. I think a wider market sell-off will push CSL below $200 over the next month or so, so I'll wait a bit longer. The risk there is though, if momentum from CSL112 emerges, CSL will quickly push back through its recent highs in no time.
Once again, those who can pick the bottom of this dip should profit nicely. Good luck!
These corrections are healthy for stocks with high valuations....
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Last
$293.06 |
Change
2.315(0.80%) |
Mkt cap ! $141.4B | |||
| Open | High | Low | Value | Volume |
| $294.00 | $294.75 | $290.82 | $316.3M | 1.104M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 31 | 82043 | $322.36 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $234.45 | 414 | 5 |
View Market Depth
| Last trade - 15.59pm 21/06/2024 (20 minute delay) ? |
| CSL (ASX) Chart |