Livewire has acquired Market Index, the country’s leader in free stock market data.
Find out why.

Technical Analysis: S&P/ASX 200 (XJO) The XJO experienced a strong bounce over the past few weeks, rebounding to its upper Bollinger band and its 61.8%...

Morgans Financial Limited

Morgans Financial Limited

Technical Analysis: S&P/ASX 200 (XJO) The XJO experienced a strong bounce over the past few weeks, rebounding to its upper Bollinger band and its 61.8% Fibonacci retracement ratio, showing significant improvement in momentum. The stochastic indicator has reached overbought territory, suggesting that the index is likely to experience a short term pull back soon. The first potential downside target is 5300. Given the strong rebound, the October 2014 low is now key support, which in our view is going to hold. Due to the recently increased volatility we believe that near term action will be choppy. Although a lot of damage has been done on the chart throughout September and October 2014, so far the long term up trend remains intact and given the recent improvement in momentum, the index has a good chance of recovery. More technical analysis on the Morgans blog: (VIEW LINK)


Morgans Financial Limited
Stockbroker
Morgans Financial Limited

Morgans is Australia's largest national full-service retail stockbroking and wealth management network with over 240,000 client accounts, 500 authorised representatives and 950 employees operating from offices in all states and territories.

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.