Technical turning point in large cap stocks emerges

Angela Mangan

QMG Pty Ltd

Technical turning point in large cap stocks emerges. Australian large cap stocks commenced generating technical buy signals last week, with select bank and resource stock featuring in the buy signals activated. As detailed in wires over recent weeks, the early indicator that signals a shift in market momentum, is large cap stocks base forming / generating buy signals, which has now emerged. This will precede any change in trend at an index level. It is also notable that there is no potential for new stock sells signals to be generated, and this is co-inciding with an increase in buy signals, again highlights that sentiment / momentum is shifting.


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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