CSL Limited (ASX:CSL) Technicals Overbought Condition

CSL Limited (ASX:CSL) Technicals Overbought Condition

CSL Limited (ASX:CSL) Technicals Overbought Condition

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 131.91.

The projected lower bound is: 118.58.

The projected closing price is: 125.24.

CSL Limited

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.

Momentum Indicators
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 90.7097. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 8 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 70.87. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 12 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 150.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 14 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 1 period(s) ago.

Rex Takasugi – TD Profile

CSL FPO closed down -1.170 at 124.740. Volume was 46% below average (neutral) and Bollinger Bands were 14% narrower than normal.

Open High Low Close Volume___
125.380 125.650 123.740 124.740 588,621

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 121.43 112.85 108.14
Volatility: 19 39 30
Volume: 799,121 1,070,886 1,029,594

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary
CSL FPO is currently 15.4% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect volume flowing into and out of CSL.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on CSL.AX and have had this outlook for the last 54 periods. Our momentum oscillator is currently indicating that CSL.AX is currently in an overbought condition.

We are aware of the heightened political tensions globally, these must be monitored daily to protect your portfolio.

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