ASX200 index technical sell signal generated
The ASX200 index generated a technical sell signal at 5833 on 20/4/15. The expectation is for further significant downside to occur. (The rebound yesterday did not alter the negative technical view on the index). The ASX200 index sell signal has coincided with a notable increase in the number of large cap stocks that have generated technical sell signals over the last week - 18 stock sell signals have been generated. When the ratio of stock sell signals versus buy signals generated becomes heavily weighted on the sell side, it is a negative market momentum indicator.
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.