CSL - Grand Supercycle Correction Over Yet?CSL LimitedASX_DLY:CSLNoFOMO_They used to say "never sell CSL", they were right up until it peaked on March 2020. This was at the height of the Covid dump, whilst other stocks crashed; CSL was putting in a supercycle top. If you didn't sell the top, you are now down 72% since the all time high. Ouch! CSL is not any old stock, this is a leader in the ASX, one of the greatest businesses out of Australia. I was closely looking at this stock less than a year ago, fortunately I didn't pull the trigger as it didn't have any positive momentum. Little did I know that management would fall apart and the business would have a $5 billion non cash impairment charge scheduled across FY26 and FY27. This triggered a massive sell off event, the stock capitulated to levels not seen since 2016. Yikes! This used to be a growth stock, now I am looking at it as a turnaround play. This requires patience and belief, I think the market is over reacting here and this business presents an opportunity. If you have 1-2 years and can stomach volatility, this stock may be for you. I consider CSL a wide moat business. It is split between CSL Behring (plasma, 70% revenue), CSL Seqirus (flu vaccines, 20% business), and CSL Vifor (10% of business). Trading at $97 AUD against a $3.1 billion cash profit run rat puts CSL at an implied forward multiple of 10.1x NPATA. I think patient investors are getting a 50% margin of safety at current levels. The technicals suggest a complete flush out of sellers, an RSI of 16 on the weekly completely resets the RSI from the previous cycle low. This is a rubber band setup that value investors look for, to ensure sellers have completely exited. My technical analysis has so far caught the exact love of the move, but I would like to see it reclaim $100 AUD and show some positive momentum. Whilst the world clamours over AI stocks, and tech puts in a euphorics high, I am looking at deep value plays in dividend compounders - CSL ticks this box. Keep a close eye on this, not financial advice.