Australia Stock Market Monthly Update. August 2017

This monthly update will analyse the weekly and the daily charts to see the current state of the Australian market.

The Australian Share market started Financial Year 2017/18 with the S&P/ASX 200 (AU200AUD) at 5717. For the month of July 2017, the S&P/ASX 200 was down .18% to finish at 5707.

Below is the weekly chart of the S&P/ASX 200 provided by TradingView for this article.

The S&P/ASX 200 is currently going through consolidation phase. In the month of July, the Australian market started on positive note but by the mid July it pullback to major support at 5640. Currently ASX 200 trading above minor support at 5700.

Below is Daily chart of the S&P/ASX 200 provided by TradingView.

The volatility will increase in August due to start of reporting season in Australia. For the month of August, if S&P/ASX 200 held price above 5700, then we have high probability it will break SKB and bearish cloud and cross 5800 by mid-August. If it goes below 5700 then it may pullback again to 5640 level and may continue its current consolidation phase.

Here is a list of Australia stocks that are completely bullish:

Note: RT Scanner, EII Capital, August 2 2017

Let’s now look for a trading opportunity.   Since the market has closed above minor resistance, we want to make sure we trade in the direction of the higher time frames.

In using our scanner to analyse the ASX200, we found the following opportunities in our Multiple time frame email alert.

Trading Timeframe

Bullish

Bearish

10 Minutes NEC-ASX, NINE ENT FPO (2)
FXL-ASX, FLEXIGROUP FPO (4)
A2M-ASX, A2 MILK FPO NZ (2)
APN-ASX, APN N&M FPO (4)
S32-ASX, SOUTH32 FPO (2)
IFL-ASX, IOOF FPO (4)
SPO-ASX, SPOTLESS FPO (4)
GPT-ASX, GPT STAPLED (4)
IRE-ASX, IRESS FPO (4)
BOQ-ASX, BANK QLD FPO (4)
ARB-ASX, ARB CORP FPO (4)
30 Minutes NEC-ASX, NINE ENT FPO (2)
FXL-ASX, FLEXIGROUP FPO (2)
A2M-ASX, A2 MILK FPO NZ (4)
APN-ASX, APN N&M FPO (2)
IFL-ASX, IOOF FPO (2)
SPO-ASX, SPOTLESS FPO (4)
GPT-ASX, GPT STAPLED (2)
IRE-ASX, IRESS FPO (4)
BOQ-ASX, BANK QLD FPO (4)
ARB-ASX, ARB CORP FPO (4)
CWY-ASX, CLEANAWAY FPO (2)
AWC-ASX, ALUMINA FPO (2)
EVN-ASX, EVOLUTION FPO (2)
GOZ-ASX, GROWTHPRO STAPLED (4)
TME-ASX, TRADE ME FPO NZX (2)
GXL-ASX, GREENCROSS FPO (4)
JHX-ASX, J HARDIE CDI 1:1 (2)
SHL-ASX, SONIC HLTH FPO (2)
60 Minutes FXL-ASX, FLEXIGROUP FPO (2)
APN-ASX, APN N&M FPO (2)
BGA-ASX, BEGA FPO (2)
SPO-ASX, SPOTLESS FPO (2)
IRE-ASX, IRESS FPO (4)
BOQ-ASX, BANK QLD FPO (2)
ARB-ASX, ARB CORP FPO (2)
AWC-ASX, ALUMINA FPO (2)
EVN-ASX, EVOLUTION FPO (2)
GOZ-ASX, GROWTHPRO STAPLED (4)
TME-ASX, TRADE ME FPO NZX (4)
JHX-ASX, J HARDIE CDI 1:1 (4)
SHL-ASX, SONIC HLTH FPO (4)
SKT-ASX, SKY NET TV FPO NZ (2)
120 Minutes NEC-ASX, NINE ENT FPO (2)
A2M-ASX, A2 MILK FPO NZ (4)
S32-ASX, SOUTH32 FPO (4)
BGA-ASX, BEGA FPO (4)
GPT-ASX, GPT STAPLED (4)
CWY-ASX, CLEANAWAY FPO (2)
AWC-ASX, ALUMINA FPO (4)
EVN-ASX, EVOLUTION FPO (2)
GOZ-ASX, GROWTHPRO STAPLED (4)
TME-ASX, TRADE ME FPO NZX (2)
JHX-ASX, J HARDIE CDI 1:1 (2)
SHL-ASX, SONIC HLTH FPO (2)
SKT-ASX, SKY NET TV FPO NZ (4)
240 Minutes NEC-ASX, NINE ENT FPO (2)
A2M-ASX, A2 MILK FPO NZ (4)
S32-ASX, SOUTH32 FPO (2)
BGA-ASX, BEGA FPO (2)
GPT-ASX, GPT STAPLED (2)
CWY-ASX, CLEANAWAY FPO (2)
AWC-ASX, ALUMINA FPO (4)
EVN-ASX, EVOLUTION FPO (2)
GOZ-ASX, GROWTHPRO STAPLED (2)
TME-ASX, TRADE ME FPO NZX (2)
GXL-ASX, GREENCROSS FPO (4)
JHX-ASX, J HARDIE CDI 1:1 (2)
SHL-ASX, SONIC HLTH FPO (2)
SKT-ASX, SKY NET TV FPO NZ (4)
Daily S32-ASX, SOUTH32 FPO (4)
IFL-ASX, IOOF FPO (2)
BGA-ASX, BEGA FPO (4)
CWY-ASX, CLEANAWAY FPO (4)
GXL-ASX, GREENCROSS FPO (2)
SKT-ASX, SKY NET TV FPO NZ (2)

Note: Updated July 31, 2017 02:11:07 AM EST

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About the Author Bobbey Pawagi