These two stocks show contrasting technical features.IAG has held above its medium term uptrend line from late August and broken upwards above its recent short term downtrend line. The RSI remains above it s mid-line, and the Slow Stochastic is positive.
SUN has broken below its medium uptrend line from late August and still below its short term down trend line. The RSI is a tick under 50 at 49.6. DMI- is above DMI+ which is negative. The Slow Stochastic has broken back below its signal line which is negative.
On balance, IAG is looking positive and SUN is looking negative.
Last night in America, markets took a big jump upwards. I'm just a tad suspicious. It is options expiry week in America, and such one-off jumps can occur.
I'd like to see how Australia goes today before jumping in at the deep end.
Cheers
Red
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