Anyone notice that the XJO (asx200) has turned technically bullish?

Discussion in 'Stocks & Derivatives' started by SilverSanchez, Apr 16, 2012.

  1. SilverSanchez

    SilverSanchez Active Member

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    Above 200 dma

    30 day ex.m.a above the 30 day s.m.a and both bellow the share price = bullish if it can hold a few more days

    In slipstream language (although i use slightly different ma's) intermediate and long term uptrend

    [​IMG]
    Source: me
     
  2. SilverSanchez

    SilverSanchez Active Member

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    If it cant break through the resistance - get set for a fall or a very tight short term range

    S&P500 (USA) is still bullish and not looking like slowing down

    So - make your own conclusions
     
  3. Silverthorn

    Silverthorn Well-Known Member

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  4. SilverSanchez

    SilverSanchez Active Member

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    There has been so many false breaks - but looks like she wants to bust through

    Don't wanna be too bullish yet
     
  5. SilverSanchez

    SilverSanchez Active Member

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    30 day exponential ma is acting as support after today's close
    bullish signal for now at least

    Still that 3300 resistance
     
  6. SilverSanchez

    SilverSanchez Active Member

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    I was also revising individual stock health

    out of my babies from the GOLD/SILVER/PLATINUM miners
    SLR, TRY & EVN

    Are the only ones still above their 200 day moving averages
    Also according to my oscilator are over sold (doesnt mean a buy)

    SLR and EVN are under valued according to ev/total defined resource EVN is most so
     
  7. SilverSanchez

    SilverSanchez Active Member

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    The 200day sma for the asx200 is at 4213, so if it breaks below there and hold for about 4 days - watch out

    Im looking for a full correction of the XGD (ASX gold ords) to 5000 which is a return to 2007 levels.

    I think both silver and gold will false break their supports - to complete the selling of the herd who moved in from late 2010 till now - lots of money moved into gold at 1600 so they need to be scared out hence the false break to the downside.

    The asx and s&p will ralley to support the above. Dont know what will happen in europe which could modify the above, QE would modify the above also.

    I reserve the right to be wrong - and everyone needs to make their own choices, coz im not a professional nor am i an advisor.
     
  8. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Agree. To me, ASX200 is looking ominous.

    Daily shows clear 50% retracement that is struggling to be broken, with MACD showing bearish divergence, and price dancing either side of support.

    Weekly looks a whole lot worse, retracement completed, MACD bearish divergence, with a break of support indicating downside target around 3600-3700.

    I also reserve the right to be wrong. :)

    [​IMG]

    [​IMG]
     
  9. dcl

    dcl Member

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    Technical analysis aside, what do you guys think a 'fair' value for the ASX200 is?
     
  10. SilverSanchez

    SilverSanchez Active Member

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    If it does break to the downside - id say target 3800
     
  11. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    About 3900
     
  12. havo

    havo Member Silver Stacker

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    As an aside i see that the eurostoxx 50 is trading at around 9 times forward earnings and 1 times book value. Now the question is whether those earnings or book values hold...

    Back to the main topic - as long as the asx 200 is under 4300 i would be bearish.
     

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