Technicals | Sep 08 2020
By Michael Gable
The US market taking a breather has seen the Australian share market back to where it was a week ago, with the sideways trading range for our market continuing for a little while longer. Beneath the surface though, we have been seeing a rotation into more "old world" stocks. In today's world of limited attention spans, it will be interesting to see how long that lasts, but we have noticed some good support here for sectors such as Materials.
Last week we also mentioned that the travel sector was showing some nice buying support and we believe that current levels are an opportunity to consider buying. Whereas Qantas Airways (QAN) and Sydney Airport (SYD) are the more obvious names, for the short-term at least we can see some significant upside here in Flight Centre Travel Group (FLT) and Webjet (WEB).
In today's report we take a look at CSL ((CSL)).