CSL Limited’s recent gap down reflects a sharp reset in market confidence rather than a collapse in its core business. The fall was driven by weaker-than-expected H1 FY26 results, plasma division margin pressure, policy headwinds in the US and China, a surprise CEO change, and earlier guidance cuts. While the stock is technically in a clear downtrend and deeply oversold, the long-term investment case now hinges on execution, margin recovery, and whether management can rebuild credibility.
When you spend enough time around the ASX, you start to notice a certain rhythm in how strong charts behave. Some stocks creep for weeks, building energy in tight ranges, and then, almost without announcement, they begin flashing early signs of strength. In this review, we focus on three ASX-listed companies whose price action suggests further upside.
Hot Chili Limited is a pre-revenue copper developer focused on its large-scale Costa Fuego project in Chile, supported by strategic water infrastructure and long-term exposure to the global copper supply deficit theme. However, its recent share price weakness has been driven by a discounted capital raising, ongoing dilution risk, high cash burn, valuation concerns, and broader copper-sector volatility. Technically, the stock has entered a correction phase, with downside support levels around A$1.25–1.30, A$1.15 and near A$1.00, while a sustained break below the A$0.80–0.90 zone would signal a deeper trend reversal.
Silver has rebounded sharply after a brutal 30–40% pullback, driven by geopolitical tensions and renewed macro uncertainty. Against this backdrop, Investigator Resources Ltd (ASX: IVR) — whose share price has more than tripled over the past year — has pulled back from recent highs as traders de-risk. The key question now is whether silver’s renewed surge signals another leg higher, offering leveraged upside for IVR, or just more short-term volatility.
PolyNovo Limited (ASX: PNV) remains a fundamentally strong, high-growth medtech, but its share price is currently testing key support around A$0.88–0.92 within a broader sideways range. While selling pressure has eased and momentum is stabilising, a confirmed bottom would require a sustained break above A$1.08; otherwise, a fall below A$0.86–0.90 could signal further downside.
WiseTech Global’s A$2bn acquisition of E2open has significantly boosted revenue but diluted margins and increased leverage, shifting the investment case from premium organic growth to execution-driven integration. While the long-term strategic rationale remains sound, near-term earnings pressure and higher balance sheet risk make valuation more demanding and leave little room for integration missteps.
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