Technicals - ASX200 index - sell signal target @5075 reached, but no sign of a turnaround

Angela Mangan

QMG Pty Ltd

The ASX200 index previously generated a technical sell signal as a result the 14/6/16 close below the 5300 support level, as detailed in mid-June Wire.(VIEW LINK) At that point the index technical outlook turned negative. The decline today has resulted in the nominated downside technical target located at 5075 being reached - which had been the minimum expectation for a pullback. The index technicals remain negative given there is no sign of a base forming emerging.

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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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