Sectors of the Australian market with a negative technical rating / outlook

Angela Mangan

QMG Pty Ltd

ASX200 index - generated a technical sell signal @ 5833 on 20/4/15 with the downside target remaining located at 5500. The heavy weighting towards large cap stock sell signals has continued and remains a negative momentum indicator (Since 30/3/15 there have been 39 stocks sell signals generated). The specific sectors of the market that have negative technical ratings are : 1. the major banks - CBA, NAB and WBC generated technical sell signals in mid-late April (which lends weight to ASX200 index sell signal) ; 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.

3 stocks mentioned

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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