The local market has again bounced up from near the lower boundary of the current sideways trading range as the main components of the index fail to move consistently in the same direction.
Former dividend darling Telstra has fallen 19 per cent so far this year far more than what the dividend yield would be. Still for some retirees it’s all about the income.
BHP is moving up again today.
The Banking index has moved above short term resistance.
The A2Milk Company has bounced off support levels showing demand and could be headed for new highs.
BWX has fallen to what could be a support zone and is staying above the current uptrend line.
Platinum Asset Management looks to be making a move higher.
The Mayne Pharma price has been under pressure for some time and a break above the down trend line could signal better times ahead.
RCR Tomlinson looks to be consolidating above the recent break higher.
Disclaimer: The commentary and trading positions taken are for educational purposes only and are 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.