I read a weekly report each Sunday from a highly regarded HC poster on the XJO thread.
Below is what he had to say about ANZ and Financials:
”The bell wether stock, ANZ, seems to be signalling a marked change in sentiment by investors in Australia. It peaked on the 18 October, and the weekly candle is a highly unusual, very wide range shooting star. It has occurred at a major resistance level and at the top of an up trend. A candle with such ferocious up/down volatility hasn’t been seen since the end of the GFC in early 2009. It would be highly unusual if that doesn’t mark the end of the bull rally in the financials – the biggest sector in the Australian market – nearly 40%. And that puts a big downward pressure on our market.”
Source: Redbacka on the XJO thread.
Shonan Trader
PS. Cheers Lefevre.
wbc charts & thoughts (november), page-2
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Last
$32.10 |
Change
0.520(1.65%) |
Mkt cap ! $110.7B | |||
| Open | High | Low | Value | Volume |
| $31.58 | $32.17 | $31.57 | $184.1M | 5.765M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 12479 | $32.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $32.10 | 1035 | 3 |
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| Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
| WBC (ASX) Chart |