Charter Hall shares (ASX: CHC) have found the A$24 level a tough nut to crack so far this year, testing a break through January, and only returning to the zone back in the penultimate trading session of July. After once again hitting the wall two weeks ago, the Charter Hall share price has since found sellers in control.
CHC holders head into a fresh trading week having seen the the stock pull back 13.35% over the past two weeks, and 15.26% since the turn of calendar 2026.
In Friday’s FY26 report, the company delivered a 26.8% increase in operating earnings per share of 103.2 cents, for a post tax statutory earnings total of $427.9million. Looking out to FY27, the guide for earnings of 114 cents is a 10.5% growth rate Y/Y, a substantial slowdown from the FY26 increase.
That reduction in growth is all markets needed to sell down the stock into the weekend, with a 6.33% drop on the day to close at A$20.71 also delivering an intraday low of A$20.17, as bears seemed intent on testing support at a key psychological level.
On the technical side, the setup suggests this is more than a routine pullback, with price breaking clearly below the lower Bollinger Band, a level that was sitting near A$21.95.
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The combination of a sharp break through a technical support level accompanied by rising range expansion, is consistent with sustained selling and stop-loss triggering rather than orderly adjustment. Trend strength, as measured by the directional index, is building rather than fading, which suggests this developing move has momentum behind it and may not resolve quickly.
Whilst markets had been willing to buy into the name following FY26 results, this latest guidance has raised a few eyebrows. With growth rates expected to come in less than half that of the recent year, the pressure is now on bulls to find a meaningful level of support.
