CSL Limited (CSL.ASX) | 21/02/2019 | 1 Year, Daily Chart
$240.00
$230.00
$220.00
$210.00
$170.00
$160.00
$150.00
20/02/2018
20/03/2018
20/04/2018
21/05/2018
19/06/2018
17/07/2018
14/08/2018
11/09/2018
8/10/2018
5/11/2018
3/12/2018
3/01/2019
3/02/2019
Stock is wildly overextended here
and is showing obvious signs
of churn
Sellers Takeover
Stock looks to
need some consolidation
Break out from short base.
Move below 50 day MA as
here to work through
Looks good but stock quickly
average starts to flatten
previous selling
looks overextended
Move below previous support
Interesting breakout
Support seems to be found as stock reaches
low and then retests and holds
5 Year Chart
208
158
108
58
Technical Summary: The five year chart of CSL tells a pretty clear story about the underlying strength of the company as it has moved from the bottom left to the top right. In the middle of the 1 year chart you will see the all time high for the stock. At this high at over $230 per share the stock was looking very eurphoric and overextended. For 4 days in the row there appeared to be distribution in sellig with the stock moving off its highs. The stock then collapsed back to where it found support at just over $170 per share. This might turn into a classic buy the dip situation as the stock has since been trekking sideways, consolidating the recent selling.