CSL has maintained this channel for almost 6 years, with a 98% fit to the trend. The size of the channel is quite deep, with +/- 20%; but when we compare that with an average year-on-year growth of 30% the risk/reward can still be managed with scaled and staggered positions.
ATM Stock Research
CSL Limited – Technical Analysis Summary-
CSL is a global biotechnology company that was listed on ASX at $2.30 per share back in June 1994. ATM stock research initially recommended the stock at $91.87 in 2016. The stock was at its peak on 20th February this year at $342.28. The Covid 19 Sell-off reversed the stock to $242.64 levels in March....
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?
CSLLY has experienced many chart pattern formations over the years, including a horn bottom, an Adam bottom, an ascending broadening wedge which led to a bearish reversal, and is currently experiencing a ‘bump and run’ pattern. ~0.75 regression uptrend, overall very bullish even if a small bearish pullback does occur. A lot of bump and run patterns seem to be...
This was a beautiful setup, demonstrates the power of a move once a precious resistance line is broken with strength. Target based on measured move from the previous support (low) to the initial resistance (high). Expect a pullback now that the move has played out.
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...
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 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
