Technicals - ASX200 INDEX - the potential exists for a technical sell signal to be generated

Angela Mangan

The ASX200 index previously generated a technical buy signal at 5543 on 8/12/16 and subsequently reached the nominated upside technical target at 5725 on 3/1/17. Recent QMG wires higlighted that the index had moved into overbought territory on a momentum basis which was flagged as reason for caution relating to the sustainability of the rally (VIEW LINK). The ASX200 index now has the potential to generate a technical top formation / technical sell signal. A close below 5720 is required to generate a technical sell signal. The minimum downside technical target in that scenario would be located at 5500.


About this contributor

Angela Mangan

Angela Mangan

Technical Analyst, QMG Pty Ltd

Angela has 30 years experience in the technical analysis field. Angela joined QMG as a technical analyst in May 2014. Angela was the technical analyst at Bell Potter for 16 years, providing technical analysis coverage to the retail and wholesale...

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asx200index australian equity market

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