Once again, CSL has retraced back to the 50 weekly moving average after a recent high.
In the past, the 50 moving average has become an excellent accumulation zone for investors.
Could we see history repeating itself here?
Also, an unconfirmed double bottom and triangle are forming on the weekly chart.
If the asx200 pullbacks 1-2% in the next few days, CSL could struggle to get past the big psychological price level of $300.