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Mar 1, 2023 12:29 AM

CSL looking unwell Short

CSL LIMITEDASX

Description

So... my previous bullish attempt at this pattern failed, and I am now looking at the bearish play. A rising wedge pattern, looking to break from the rising support line. If this plays out, then the target will be around $248. The target is supported by the height of wedge, fair value gap and fib level, so looks to be a very strong possibility. The bearish sentiment is also supported by the disruptions to CSL business (Vifor), a higher cost environment, interest rates rises and latest drop in dividend payout.

DYOR and trade at own risk.

Trade active

Hah here we go, loss of support from trend line.
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