TECHNICALS - RESOURCES AND ENERGY REMAIN THE FAVOURED SECTORS OF THE AUSTRALIAN MARKET
In recent wires I have highlighted the sectors of the Australian market that had been flagged by the technicals as negative sector themes – major banks, A-REITS, select fund management stocks and healthcare. The sectors that have been identified as positive technical themes, and have been accorded the highest technical ratings, are the resources and energy sectors. BHP, RIO and WPL amongst others had generated technical buy signals. When the key stocks within a sector have a technical buy rating, it is a positive momentum indicator for the sector outlook.
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.