Where from here with CSL technically speaking ? 02/08/2015

Trend in motion remains in motion until proven otherwise. I doubt that there is any argument about the up trend with this true Australian Icon IMO.

Question is where from here with CSL ? I have looked at the past two bullish price objectives taken from a vertical count method using PnF chart, box size $1.00,H/L,Daily,3 Box reversal.

Last two, as can be seen on the char,t were met and exceeded. This is nothing but strength in technical terms. First was at $74.40 and the second was at $96.70.

To the present now. As of this writing there is another  medium term ( weeks to months minimum) bullish price objective  count of $122.60, which  may also increase in the days ahead. But so far, with all the available data on hand, that is the new bullish price objective. It will remain valid, as long as we don’t see a close below $86.60. If that is to happen ( close below $86.60 ), it will negate this bullish price objective on hand.

Will it get there ? As always it may or may not.

Below is the chart after the disclaimer.

Disclaimer

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Investing and trading in financial markets carries considerable risk, and should always be done in consultation with a licensed financial adviser taking your personal circumstances, financial situation, objectives and needs into consideration.

 

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