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Negative technical theme in the Australian bank sector continues with all 4 major banks now rated as technical sells, given CBA generated a sell signal...

Angela Mangan

QMG Pty Ltd

Negative technical theme in the Australian bank sector continues with all 4 major banks now rated as technical sells, given CBA generated a sell signal yesterday. Two regional banks also rated as sells. When key stocks in a sector are rated as technical sells, it is clearly a negative technical indicator for the sector outlook, and specifically in the case bank sector, given it's heavy weighting in the ASX200 index, it is a negative technical indicator for the broad market outlook, and adds weight to our current technical sell recommendation on the ASX200 index.


Angela Mangan
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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