From January this year the Australian sharemarket, gauged by the All Ordinaries Index, is up around 10%. This has been largely driven by the industrial sector being up around 12%, and the lagging resources sector down by 2%. The following report looks at the top 20 stocks in the market, highlighting the differing performances between the sectors from a technical analysis view point. From the top 20, both AMP and Telstra feature significant milestones on their price charts.
Note: an explanation of some of the terms used in this report can be found at the end.