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Australian Stock Index Technical Analysis - Australian Stock Index Trading: 2024-11-28
ASX 200 Index Technical Analysis Summary
Above 8486.36
Buy Stop
Below 8387.21
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
ASX 200 Index Chart Analysis
ASX 200 Index Technical Analysis
The AU200 technical analysis of the price chart on 4-hour timeframe shows AU200,H4 is rebounding above the 200-period moving average MA(200) after pullback following a record close three days ago. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 8486.36. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 8387.21. After placing the pending order the stop loss is to be moved every day to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (8387.21) without reaching the order (8486.36) we recommend cancelling the order: the market sustains internal changes which were not taken into account.
Fundamental Analysis of Indices - ASX 200 Index
Australia’s business capital expenditures rose in third quarter. Will the AU200 price advancing continue?
Australia’s private capital expenditure data released today were stronger than expected: Australian Bureau of Statistics reported new capital expenditure by private businesses increased by 1.1% over quarter in Q3, rebounding from a 2.2% decline in Q2 while an 0.9% rise was expected. On an industry basis, capital expenditure on buildings and structures and for manufacturing led the rebound as they increased by 27.2% and 17% respectively, partly offsetting a fall in mining industry spending on buildings and structures, which was down 2.5%. Rebounding capital expenditures by Australian private businesses is bullish for Australian gross domestic product and hence the AU200 stock index.
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