CSL – a watch on the technicals

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CSL Limited (ASX:CSL) is a $31.7 billion market capitalised company and is an ASX20 Index constituent. It is the tenth largest listed company in Australia by market cap and is the country’s largest listed health stock and therefore would be a key holding in many managed funds and SMSFs.

From September 2011 to March 2014, CSL’s stock price performance was stellar, rising 176%. And then there were dividends too.

However there are some strong technical signs that CSL’s share price might be in for some noteworthy underperformance compared to the wider market and there may just be a price retracement of some significance.

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