ASX200 index downside technical target remains located at 5375

Angela Mangan

QMG Pty Ltd

The ASX200 index originally generated a technical sell signal at 5833 on 20/4/15. The downside technical target remains located at 5375. The ratio of stock sell signals versus buy signals being generated remains heavily weighted on the sell side which continues to be a negative market momentum indicator - 70 stock sell signals have been generated since 30/3/15 compared to 26 buy signals during the same period. The major bank stocks generated technical sell signals in mid-late April and despite the heavy subsequent falls, there is no sign of base forming which is the requirement to generate re-entry technical buy signals. The A-REITs, major healthcare stocks and select fund management stocks also remain negative sector themes from a technical perspective.


Angela Mangan
Technical Analyst
QMG Pty Ltd

Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.

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