##{"id":58436,"date":"2011-07-12T10:08:16","date_gmt":"2011-07-12T00:08:16","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2011\/07\/12\/more-weakness-for-csl\/"},"modified":"2011-07-12T10:08:16","modified_gmt":"2011-07-12T00:08:16","slug":"more-weakness-for-csl","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2011\/07\/12\/more-weakness-for-csl\/","title":{"rendered":"More Weakness For CSL"},"content":{"rendered":"<p>\n\tBy Rudi <span>Filapek-Vandyck<\/span><\/p>\n<p>\n\tThe <span>TechWizard<\/span> confessed yesterday he had been keeping a close eye on <span>CSL<\/span> ((<span>CSL<\/span>)) shares, as his <span>gutfeel<\/span> was telling him support was likely not strong enough to keep the shares in the <span>mid-30s<\/span>. It turns out, the Wizard&#039;s <span>gutfeel<\/span> was correct.<\/p>\n<p>\n\t<span>CSL<\/span> shares have joined the broader market in a pronounced sell-off this week and from a technical point of view, the shares have now broken below the 20 moving average (M\/A). This, predicts the Wizard, will simply attract more selling.<\/p>\n<p>\n\tThe Wizard believes a retest of the low point at $30.57 is not out of the question. He reports only a weekly close back above $33 will turn the M\/A bullish and reduce the selling pressure.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/CSL_20MA.png\" style=\"width: 1150px;height: 677px\" \/><\/p>\n<p>\n\tThe <span>TechWizard<\/span> has informed us he at present does not own any shares in the company.<\/p>\n<p>\n\tThe <span>TechWizard<\/span> is the pseudonym of Scott Morrison, whose experience in financial markets exceeds twenty years. Morrison operates his own website nowadays at <span>www.techwizard.com.au<\/span>. All views expressed are the <span>TechWizard&#039;s<\/span>, not <span>FNArena&#039;s<\/span> (see our disclaimer).<\/p>\n<p>\n\t<strong>Technical limitations<\/strong><\/p>\n<p>\n\t<strong><span style=\"font-style: italic\">If you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we <span><span>apolog<em>ise<\/em><\/span><\/span><em>, but technical limitations are to blame.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The TechWizard reports CSL shares have broken below 20 M\/A indicating more weakness is on the cards.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[39],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58436"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=58436"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58436\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=58436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=58436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=58436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}