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