ASX Traders Report - Australia, March 16, 2015
All Ords Index: Retraced last week and challenged the 5,700 support level. Prices are now trading under the 20 day moving average which has turned slightly downwards. A further pullback to the 5,700 is possible before we see a resumption of the up-trend. The index is still trading well above the longer term 50 day moving average.
All Ords Index
Domino Pizza (DPZ) : looking for a breakout from the upper trend-line.
Domino’s Pizza (DMP)
M2 Group (MTU) : resistance breakout and new high, well supported by the 20 day moving average.
M2 Group (MTU)
Mantra Group (MTR) : Ascending triangle resistance breakout for a strong technical pattern long trade possibility.
Mantra Group (MTR)
Happy trading
Flavio
Disclosure: None.