Firstly, a large M formation is presenting on the end of long term 'Bump & Run' pattern. We have duplicated the AB trendline and placed it at the peak of the triangle within the gann emblem, it's purpose is to hold price and we look to short the stock below this level with stops obviously above it.
CSL is one of those mega stocks everyone used to have in their portfolios which is up something like 28,000% since the mid 90's. After the recent sell off it looks like its showing signs of recovery. Might be a day or two early, but certainly worth a watch.
Currently 739 buyers for 131,397 units vs 415 sellers for 80,974 units
CSL Limited is a biotherapeutics...
CSL seems to fall a bit (in short-time term) but then consolidate and move up from 0.236 fib ret level.
Stoch chart shows it is overbought, then a fall is expected.
By the way, this security has a great long potential according to its fundamentals.
$CSL Limited needs to give me a little more green volume and a higher high/higher close candle and I might be tempted here. Would also like to he the 9and18 ema's curl around to the upside.
I'm just learning here. Starting simple. Feedback welcome.
A few things I'm seeing here:
Volume increasing at neckline
Volume decreased at right shoulder
Pullback to neckline on weak volume
Entry point at 3% above neckline - 196.76
Watching volume
Analysis based off "Technical Analysis of Stock Trends" by Edwards, Magee, Bassetti
Share prices performed well in today's session after opening well below 157.74 support just around 155.60 support. It made its way back up and managed to close at 159.64. Share prices need to break and hold above 160.56 resistance before further moves to the upside. Failure could see prices fall to around 157.74-155.59
CSL parabolic move.. This latest run has been fastest and sharpest.. Wait and see if it stops here or goes to 170 for any short opportunity.. Hedge funds manipulate this heavy weight as others are struggling in the ASX200
CSL Limited is a biotherapeutics company that develops and delivers biotherapies. The Company's principal activities are research, development, manufacture, marketing and distribution of biopharmaceutical and allied products. Its segments include CSL Behring, Seqirus and CSL Intellectual Property. The CSL Behring segment manufactures, markets and develops plasma therapies (plasma products and recombinants). The Seqirus segment manufactures and distributes non-plasma biotherapeutic products. Seqirus manufactures, sells and distributes a range of vaccines, antivenoms and other pharmaceutical products in Australia and New Zealand. It also manufactures and markets in vitro diagnostic products through Seqirus immunohematology. The CSL Intellectual Property segment is engaged in licensing of intellectual property generated by the Company to unrelated third parties. The Company has facilities in Australia, Germany, Switzerland, the United Kingdom and the United States.
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CSL
