ASX200 index technicals - secondary sell signal generated / target 5375

Angela Mangan

QMG Pty Ltd

The ASX200 index originally generated a technical sell signal @ 5833 on 20/4/15. A secondary technical sell signal was generated yesterday which has lowered the downside technical target to 5375. The ongoing heavy weighting towards large cap stock sell signals remains a negative momentum indicator. The major sectors that remain negative are : 1. the major banks - CBA, NAB and WBC generated technical sell signals in mid-late April. Although all have reached minimum downside sell signal targets there is no sign of a turnaround; 2. the A-REITS sector - which was initially flagged as a negative sector theme in early March, remains negative given 12 stocks within this sector are rated as sells; 3. select fund management stocks - remain rated as technical sells; 4. healthcare sector - a heavy concentration of sell signals by key stocks within this sector has occurred.


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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