The Hourly View for AS51
Last Updated September 21, 2020, 12:57 GMT
At the time of this writing, AS51’s price is down -3.88 (-0.07%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AS51 has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on AS51. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
ASX 200 Daily Price Recap
ASX 200 closed the previous day down 0.32% (18.7); this denotes the 2nd consecutive day it has gone down. Out of the 14 instruments in the equity indices asset class, ASX 200 ended up ranking 5th for the day in terms of price change relative to the previous day. Below is a daily price chart of ASX 200.
ASX 200 Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For another vantage point, consider that ASX 200’s price has gone up 5 of the previous 10 trading days.
Overheard on Twitter
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to ASX200 for the past day were:
- From PamelaT34912263:
The number of women running Australia’s top companies is falling, according to a Chief Executive Women ASX200 report. The report shows there were only 10 female CEOs in Australia’s top 200 companies – the lowest number in four years. Many woman probably can’t find any paid job?
- From Anthony77Short:
ASX200 – one of the worst-performing indices. It may be time for some sort of bounce, to do do, 5,850 should be held for a couple of days. It could test 5,900 today if the US futures rally.
- From chrislesiter:
.@ASX SMG: Friday of Week 06: Since COB 17/08/2020 #ASX200 -349bps v. Me -250bps = Alpha +99bps. Big losses this week as $CCX fell nearly 7% and $URW fell over 10%.