Planet Wealth - Australian Stock Market Education » Weekly ASX Stock Wrap http://planetwealthblog.com.au We are a stockmarket investment company that educates people on the strategies we use to create both income and capital growth. Sat, 31 Mar 2012 00:21:23 +0000 en hourly 1 http://wordpress.org/?v=3.1.1 Weekly ASX Stock Wrap http://planetwealthblog.com.au/weekly-asx-stock-wrap/ http://planetwealthblog.com.au/weekly-asx-stock-wrap/#comments Sun, 22 Feb 2009 07:21:32 +0000 Planet Wealth http://planetwealthblog.com.au/?p=320
Weekly ASX Stock Wrap

s expect, this week on the XAO was a down week, moving a total of almost 150 points.

Friday closed slightly below a short term support line but there is a weekly support line just below. When looking at the daily chart it was an obvious down week but looking at the weekly chart, it has only been a sideways move. Overall the XAO has been pressurised into a corner at the top of the long term down channel. Keeping in mind the Bearish Flag Pattern that has a target level below 3000, it is a higher probability that next week will show a break to the down side.

200209 xao 112 Weekly ASX Stock Wrap

2nd stock chart:

200209 xao 22 Weekly ASX Stock Wrap

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