Cyclicals recovering ground

The All Ordinaries index was up 1.5% for the week, ending 22 February 2019. The index ended the week 2.3% above its 200 DMA and is showing considerable strength following a minor test of the 200 DMA in early February.

Of the 470 stocks currently comprising the index (and for which we collect data), 269 of these (57%) ended the week above their respective 100 DMAs, up from 260 (55%) names at the end of last week.  Two hundred fifty-six stocks were up for the week, while 214 ended the week flat or down. Two hundred and sixteen shares finished the week within 20% of their 52-week highs, with 79 of those within 5% of highs.

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Large cap Resources leading

The All Ordinaries index was up 0.2% for the week, ending 15 February 2018. The index ended the week 0.8% above its 200 DMA, consolidating the previous week’s move above the 200 DMA, with one minor test of the moving average on Monday.

Of the 474 stocks currently comprising the index, 260 of these (55%) ended the week above their respective 100 DMAs, up from 230 (48%) names at the end of last week.  Two hundred sixty-five stocks were up for the week, while 209 ended the week flat or down. Two hundred and sixteen shares finished the week within 20% of their 52-week highs, with 76 of those within 5% of highs.

Read moreLarge cap Resources leading