CSL Limited Stock Forecast
Stronger technical forecast for CSL Limited stock price after Thursday trading.
(Updated on May 30, 2024)
The CSL Limited stock price gained 0.0431% on the last trading day (Thursday, 30th May 2024), rising from $278.20 to $278.32. During the last trading day the stock fluctuated 1.19% from a day low at $275.04 to a day high of $278.32. The price has fallen in 6 of the last 10 days and is down by -3.01% for this period. Volume fell on the last day by -222 thousand shares and in total, 510 thousand shares were bought and sold for approximately $141.84 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect CSL Limited stock with a 90% probability to be traded between $264.63 and $282.91 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CSL.AX Signals & Forecast
The CSL Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $280.02. On a fall, the stock will find some support from the long-term average at approximately $277.97. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -3.01%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for CSL Limited stock
CSL Limited finds support from accumulated volume at $276.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $3.28 between high and low, or 1.19%. For the last week the stock has had daily average volatility of 0.96%.
Our recommended stop-loss: $267.18 (-4.00%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 28 days ago.)
Trading Expectations (CSL.AX) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect CSL Limited to open at $277.23, and during the day (based on 14 day Average True Range), to move between $274.65 and $281.99, which gives a possible trading interval of +/-$3.67 (+/-1.32%) up or down from last closing price. If CSL Limited takes out the full calculated possible swing range there will be an estimated 2.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $280.00 (0.60%) than the support at $276.29 (0.73%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is CSL Limited stock A Buy?
CSL Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.438 Hold/Accumulate Upgraded
Predicted Opening Price for CSL Limited of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $277.23 ( 0.393%) | $278.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CSL.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 280.51 | 0.786 % | |
| R2 | 279.25 | 0.335 % | ||
| R1 | 278.48 | 0.0574 % | ||
| Current price: | 278.32 | |||
| Support | S1 | 275.97 | -0.84 % | |
| S2 | 275.20 | -1.12 % | ||
| S3 | 273.95 | -1.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 280.94 | 0.94 % | |
| R2 | 280.21 | 0.679 % | ||
| R1 | 280.00 | 0.604 % | ||
| Current price | 278.32 | |||
| Support | S1 | 276.29 | -0.729% | |
| S2 | 271.40 | -2.49% | ||
| S3 | 269.49 | -3.17% |
CSL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 11, 2024 | Mar 11, 2024 | Apr 03, 2024 | $1.84 | 0.652% |
| 2 | Mar 09, 2023 | Mar 09, 2023 | Mar 09, 2023 | $1.62 | 0.558% |
| 3 | Sep 06, 2022 | Sep 06, 2022 | Sep 06, 2022 | $1.76 | 0.598% |
| 4 | Mar 07, 2022 | Mar 07, 2022 | Mar 07, 2022 | $1.42 | 0.570% |
| 5 | Sep 02, 2021 | Sep 02, 2021 | Sep 02, 2021 | $1.59 | 0.524% |
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