The local market is down today and is still hovering above the recent breakout level. Can it hold?
Temple and Webster has moved above a resistance zone.
Breville Group looks to be building up for a move out of the current congestion pattern.
GWA Group looks to be gaining some momentum.
GWA Group on a longer-term chart looks to have found support close to previous important lows.
29 Metals looks to be forming a bottoming pattern.
Bellevue Gold looks to be holding around a previous support and resistance zone.
Westpac has formed a large triangular consolidation pattern.
City Chic Collective looks to be forming a basing pattern. Fund manager Pinnacle recently announced it had purchased a five per cent stake in the company.
This chart from Jason Kim at Tyndall Asset Management shows high P/E companies are trading at a high premium to the market and well above previous averages.
Disclaimer: The commentary on different charts is for general information purposes only and is not an invitation to trade. Trading is risky and individuals should seek Professional counsel before making any financial decisions. Many thanks to Incredible Charts.com software for most of the charts used in the column.
Monitor, measure, manage and maximise… Cheers Charlie.
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