Technical outlook – So far in 2020, we have seen some of the most significant moves in different markets, along with falling global equities and recently, a plunge in oil markets.
Just because the markets are on a wild roller-coaster ride doesn’t mean there is a lack of opportunity in the marketplace as volatility, comes with opportunity!
Technical Analysis helps guide traders to what is most likely to happen given past information and therefore can identify trading opportunities.
As we look over many patterns and signals to attempt to assess whether the market has established a trend or how the technical implications are shaping up.
After further investigation, while tracking other technical indicators, a commonly used tool among technical stock analysts is the Moving Average Convergence Divergence (MACD), which is a trend-following momentum indicator that shows the relationship between two moving averages of prices. Also assisting our assessment is the 3-day lookback Relative Strength Index (RSI).
Once in sync with the MACD gives the marriage for ‘both these indicators’ to support our bullish assessment.
Using these signals, we can often determine when the next bullish break maybe coming.
Therefore, assessing the Sydney Airport (SYD), the technical pattern has the potential to strengthen. There, we anticipate that a move towards $6.25 is imminent, before reassessing the next step.
Company Overview – Sydney Airport (SYD) owns and operates an airport in Sydney, Australia. SYD Provides Aeronautical, retail, property, car rental and parking and ground transport services through their two central business units which are Aviation (Sydney Airport) and Leasing & Advertising Opportunities. Former Names: Macquarie Airports (MAP), 14/10/2009; Map Group (MAP), 20/12/2011.