Is it going to get to your price? Where would you place your stop loss? Would you add to your position on break below $30? What would be a profit target, or you would just trail a stop?
Just something to consider. Good luck with the trade.
CSL is a defensive stock. It will usually hold its ground in a down market. It did well to come of its low on Friday and held up well the day before when the market fell 3%
Good luck with the short but I think your barking up the wrong tree. Then again QBE fell $6-7 a few months ago and sometime the best trades are against the consensus. However sell the weak and buy the strong come to mind when I think of CSL. Just to note PRY, HSP, COH and SHL did well last week and CSL only lost 6c. What bleach8 said is probably correct. The market dislikes uncertainty.
Please explain*With Paulin Hanson tone*
Do you have a separate long investment holding vs a trading short?
No idea how its going to play out (could end ugly ). Signal I am looking for is a couple of weak closes above $32.75 ($34.75 would be perfect) and a drift towards $34/$35 over 1-2 weeks. Target $0? Is that possible?
With a SP which is not going up, and a paltry 1.7% dividend, I don't know why anyone would buy this, frankly.
Yes, I know it's considered by analysts to be a good 'core fundamental stock'
I am with Julia on this one, I have been looking at CSL for some time wonder
why the hell people are buying it, I see no real value at current prices ?
I got in at the open today 30.20...funny cos i didn't give myself much hope
of getting my low ball buy order filled when i decided to have a go at CSL
late last nite.
I could care less whether the take over goes ahead or not....under 30.50
was my buy zone, happy to hold till im in profit.
Don't know how u can look at this chart and say that :dunno:...unarguably buying
CSL at under 30.50 has been great buying over the last 7 months.
This stock is tracking the Aussie Dollar. It's weak as the Aus $ rises
because it does most of its business in US dollars.
Look, i bought in at over $31.00 and am happy to hold (sort of,
if you know what i mean!!). I think you did well...
Have to admit u don't know that much about CSL
My chart tells it like it is. If you can't see a pattern then maybe your missing something. Its does a lot of its business in US dollars so don't you think its bottom line would take a hit if the USD went south. None of us work for this company or put together its balance sheets or do the company deals, so none of us really know about this company.
Been trading this one for quite a while. My 2c at this juncture.
Point 1 - I take that to reflect weakness where buyers were easily overcome by selling at or near the lower trend line
Point 2 - RSI likewise is showing weak momentum
Point 3 - 2 days of high vol spike may kill the downward move, watch the rebound strength, this could present a short term trading opportunity. But with the price dipping over the red support line, the prognosis at this point is the selling momentum is likely to continue, probably due to shorting. See this: http://www.asx.com.au/data/Shortsell.txt.
If the rebound does not materialise, my next move would be to watch the next two lower targets of 28.26 and 24.70 - this would depend a lot on what CSL management is telling the instos with regard to their growth strategy without Talecris, and the treatment with the US$3.1b cash pile.
Operation wise, with the US$ potentially heading towards 76, CSL's profit will be affected as highlighted here: http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=7A60F50B-1871-E587-E1AF1D5B4A74A1D5, possibly worse if the US$ were to decline further from the current level.
Your post in this thread is a G up right? You got a reaction out of us. But hey your weak closes above $32 is a good call. I see the same thing. There is a gap at $33.30 that needs to be filled. It's funny, but hey anything is possible in the markets. Considering CSL has 2.7Bill in cash and debts of around 2Bill, I don't think it is getting to $0 unless the need for research into blood plasma goes.
But anyway you look at its chart, every indicator, every analysis
its a screaming sell. Might look good at a buy at $15.
Not so
http://www.sharecafe.com.au/fnarena_news.asp?a=AV&ai=13026
QUOTE:
Bank of America-Merrill Lynch had yet to update its views on CSL (CSL) after it became
apparent the company's proposed acquisition of Talecris in the US would not be approved
by regulators. The broker has now rectified the situation, with the good news for shareholders
being BA-ML still considers the stock to be a Buy.
Post the Bank of America-Merrill Lynch result, the FNArena database shows CSL rated as
Buy seven times and Hold twice
Or try this analysis
http://money.ninemsn.com.au/article.aspx?id=817693
Hehe $0 was bit of a joke. But anyway you look at its chart, every indicator, every analysis its a screaming sell. Might look good at a buy at $15.
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