As we can see that the Support Zone of $268.00 - $274.00 has been strong because it got bounced off in the end of July 2020, and price made a high of $320.00 then. Now that CSL was plunging, the same support has held very well and we can see the downtrend line violated, with a Bullish Candle closing above it, with High Volume.
MACD has also crossed and RSI has come out of the Oversold region, indicating that the Bullls have taken control and want to take it higher. My targets are as follows:
1. TP1 is $287.00 - $290.00 region (Resistance 1) (4% - 5% potential)
2. TP2 is $298.00 - $300.00 region (Resistance 2) (8% - 9% potential)
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
MACD has also crossed and RSI has come out of the Oversold region, indicating that the Bullls have taken control and want to take it higher. My targets are as follows:
1. TP1 is $287.00 - $290.00 region (Resistance 1) (4% - 5% potential)
2. TP2 is $298.00 - $300.00 region (Resistance 2) (8% - 9% potential)
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
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CSL has stated to move up as expecting after bouncing off Support. Expecting it to march higher in the coming sessions.
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