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.
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
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