Banks trying to bounce

The All Ordinaries index was up 3.4% for the week, ending 8 February 2018. The index ended the week 0.6% above its 200 DMA, finishing the week above the 200 DMA for the first time since October 2018.

Of the 476 stocks currently comprising the index, 230 of these (48%) ended the week above their respective 100 DMAs, up from 198 (42%) names at the end of last week.  Two hundred eighty-seven stocks were up for the week, while 189 ended the week flat or down. Two hundred and six shares finished the week within 20% of their 52-week highs, with 65 of those within 5% of highs.

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