The CSL pattern, page-283

@Ichimokou - I did my own chart mate, see what you think.

The chart is a Log price scale in a weekly time frame, showing data since 2011. The blue lines show a solid trading channel.

Here's my thoughts, CSL bounces around between support and resistance and I would say that a solid buy opportunity for CSL is when the SP bounces of the 50 week MA line, as you have bupkiss chance of having the price drop to the 200 week MA.

So - there's been 5 chances for a solid, below 50 week MA buy opportunity since 2012; being in 2014, 2015, 2016, 2018 and just now in the Covid crash.

As of today, the SP is $287 but the 50 week MA is $278.82, so it's close but still not a buy. The good thing to note is that the SP doesn't really dip that far below the 50 week MA. So buying at this level is pretty safe.

Even when Covid smashed the market in March, the SP barely nipped below the 50 week MA. Man I wish i did this study back then. Would have been more confident in buying.

So - my original suggestion of $275 wasn't too far off. I'm revising my buy target up to $279.

All IMO - DYOR.