Technicals – the way the resources sector turnaround was flagged
Angela Mangan
QMG Pty Ltd
The strong commodity / energy price rally on Friday night resulted in Brent crude and copper reaching (earlier) technical buy signal minimum upside target levels. Recent Wires (VIEW LINK) highlighted that QMG clients were alerted back in early February that the resource/ energy sector of the Australian market had turned positive, due to a cluster of stocks buy signals generated – nine major stocks in this space generated buy signals, six of which have reached the nominated upside targets, completing the technical trades. This sector identification is a key feature of the QMG technical analysis model and has proved to be effective in the early identification of the turning point in the resource sector of the Australian market.
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Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.
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2 stocks mentioned
Angela Mangan
Technical Analyst
QMG Pty Ltd
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.
Expertise
Angela Mangan
Technical Analyst
QMG Pty Ltd
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.
Expertise
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