How low can CSL shares go?

CSL Ltd (ASX: CSL) shares are continuing to slide after yesterday’s brutal sell-off.

At the time of writing, the CSL share price is down another 3.75% to $96.97.

That follows Monday’s huge plunge, when the healthcare giant fell more than 20% to as low as $93.64 after a disappointing update.

That was a near-decade low for the stock. The last time CSL shares were trading around this price was November 2016.

CSL shares are now down around 44% in 2026 and almost 59% over the past year.

So, how much worse can this get?

Another guidance cut hurts confidence

The latest damage came after CSL released its interim CEO 90-day review and financial update on Monday.

In that update, CSL said its growth plans are working, but the financial benefits are taking longer than previously expected.

The company now expects FY26 revenue of around US$15.2 billion. It also expects NPATA, excluding restructuring costs and impairments, of around US$3.1 billion.

CSL also expects to recognise about US$5 billion of additional non-cash, pre-tax impairments across FY26 and FY27. These are mainly tied to CSL Vifor’s intangible assets and property, plant, and equipment.

Investors clearly did not like the update, with CSL shares heavily sold off on Monday.

The size of the impairment is also hard to ignore. According to The Australian, the charge is likely to be the third largest in ASX history, behind Rio Tinto Ltd (ASX: RIO)’s US$20 billion Alcan write-down and BHP Group Ltd (ASX: BHP)’s US$15 billion shale write-down.

Brokers are also cutting numbers

Unfortunately, the market reaction has not been kind.

Broker cuts have followed quickly today. Citi reportedly slashed CSL shares to neutral with a $110 price target, while Jarden cut the stock to neutral with a $191 target. Canaccord also cut CSL shares to hold with a $106.31 price target.

Some analysts still see value after the sell-off. But the market is clearly less confident about CSL’s earnings path than it was a week ago.

The chart still looks bad

From a technical view, CSL shares remain under heavy pressure.

The stock broke below $100 on Monday and is now trading close to yesterday’s low of $93.64. That makes the low the nearest support level to watch.

If that level breaks, the next round number investors will likely focus on is $90.

On the upside, $100 is now the first obvious resistance level. Monday’s close at $100.75 may also matter because sellers have already pushed the stock back below it today.

The relative strength index (RSI) is also sitting near 11, which tells us that the stock is very much oversold.

Foolish Takeaway

CSL is still the ASX’s biggest healthcare company with a market cap of around $46.5 billion. But that’s not enough to stop investors selling.

The market is dealing with repeated downgrades, a major Vifor write-down, weaker earnings expectations, and a share price that keeps making fresh lows.

At some point, the fall may bring bargain hunters back in. But right now, it looks like CSL shares are trying to find a floor.

The post How low can CSL shares go? appeared first on The Motley Fool Australia.

More reading

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• What are experts saying about these shares hitting 52-week lows 
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• Why the ASX 200 is being smashed today

Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia has recommended BHP Group and CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.