ASX 200 (AS51) Up 0.45%, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

The Hourly View for AS51

Last Updated October 16, 2020, 00:05 GMT

At the moment, AS51’s price is down $-20.87 (-0.34%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

ASX 200 Daily Price Recap

The choppiness in the recent daily price action of ASX 200 continues; to start today, it came in at a price of 6206.83984 US dollars, up 0.45% (27.64) since the previous day. Out of the 14 instruments in the equity indices asset class, ASX 200 ended up ranking 2nd for the day in terms of price change relative to the previous day. Below is a daily price chart of ASX 200.

AS51

ASX 200 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For another vantage point, consider that ASX 200’s price has gone up 7 of the previous 10 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

Behold! Here are the top tweets related to ASX200:

  • From CHASETRDR:

    1⃣ If #ASX200 opens below 6144 and holds until 10:10, expect downward auction to 6122.2⃣ If #ASX200 opens above 6155 and holds above until 10:10, expect early morning run to 6170.$SPI $XJO

  • From IGSquawk:

    #ASX200 Sector update:
    Financials 4891 +0.47%
    Energy 6760 +1.55%
    Materials 14300 +1.56%
    Industrials 5910 +0.52%
    Cons. Discr 2818 -0.22%
    Cons. Staple 12669 +0.05%
    Health Care 44417 -0.16%
    Comms 1181 -0.29%
    Info Tech 1998 -0.64%
    Utilities 7176 +0.64%
    #asx #ausbiz

  • From ASX:

    #ASX200. Yesterday’s biggest moves were EMLPAYMENT $EML, up 11.31%, NEARMAP $NEA, up 8.47% & BANK QLD $BOQ, up 5.16%. #ASXTop3.