“The CSL share price has done amazingly well over time,” Michael said.

“However, most investors will know that the share price peaked before COVID and has been trading sideways ever since.

“It is a stock that has been fairly range bound that lends itself to some trading.

“Traders can purchase at the lower end of the range and then sell again near the top.

“In the past few weeks, I have observed an increase of funds being allocated towards healthcare stocks in general, and CSL is no exception.

“For our portfolio clients, we finally switched out of CBA and into CSL.

“There are a number of indicators on the chart which show that we have probably seen a good low in CSL and that upwards momentum should continue for a while longer.

“I expect a recovery back up to levels over $300 before we reassess,” Michael said.