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Charts Interpretation - Australia


We'll start off with the overall weekly ranking:

Now let's dive into some sectors of interest:

The Consumer Staples and Health Care are still the strongest sectors in Australia, on a relative as well as on an absolute price basis.

The A-Reit sector has been moved to the watch-list for an upgrade. On an absolute basis, the sector has been very strong and near a new price breakout, with good momentum, while the relative strength is on track to outperform the S&P/ASX200.

The Real Estate sector, which has been upgraded last week, has seen new high in absolute price but on a relative basis is still within a range, i.e. on par with its benchmark.

Materials were downgraded last week and remain weak.

The Metals & Mining sector has now been downgraded to average from strong.

The Telecom sector is showing signs of a U-turn, both on a relative and absolute basis, breaking out of a 2 year downtrend, with a nice bullish divergence.

Interesting week ahead!

Jay

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