Chart Watch 2009-03-17
Tuesday, March 17, 2009
XAO - All Ordinaries
The All Ordinaries again closed under 3300, the market has clearly met resistance at the January low. Stochastics, RSI(2) and CCI(14) all showing oversold. A quick scan of the ASX 20 stocks will confirm that most stock individually are displaying the same oversold signs. The medium term trend line was also respected. The market may be headed to retest lows if it cannot move through this level of resistance. Mondays candle also formed a Narrow Range 7 bar (NR7).
IMF – IMF Australia
As highlighted in Chart Watch 2009-03-09, IMF Australia was setting up for a potential wedge/triangle trade. Volume higher than the 15 day moving average.
Quick Trends
| Symbol | Index | Short Term (10MA) | Medium Term (50MA) | Long Term (200EMA) |
| XAO | All Ordinaries | Neutral | Down | Down |
| XTL | ASX (20) | Neutral | Down | Down |
| XMD | Midcap (50) | Neutral | Down | Down |
| XSO | Small Ordinaries | Neutral | Neutral | Down |
| XMM | Metals & Mining | Up | Up | Down |
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