. S&P 200 Technical Analysis & News - 19 September 2022

S&P 200 Technical Analysis & News – 19 September 2022

19 Sep 2022

S&P 200 News & Technical Analysis

Australia stocks lower at the close of trade; S&P/ASX 200 down 0.28%

Australia stocks were lower after the close on Monday, as losses in the Utilities, IT, and Healthcare sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 declined 0.28%.

The best performers of the session on the S&P/ASX 200 were Polynovo Ltd (ASX: PNV), which rose 9.96% or 0.14 points to trade at 1.49 at the close. Meanwhile, Unibail Rodamco Westfield (ASX: URW) added 4.00% or 0.15 points to end at 3.90 and OZ Minerals Ltd (ASX: OZL) was up 3.49% or 0.88 points to 26.13 in late trade.

The worst performers of the session were Clinuvel Pharmaceuticals Ltd (ASX: CUV), which fell 6.95% or 1.49 points to trade at 19.94 at the close. Magellan Financial Group Ltd (ASX: MFG) declined 5.75% or 0.72 points to end at 11.80 and Breville Group Ltd (ASX: BRG) was down 5.20% or 1.06 points to 19.33.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 863 to 480 and 403 ended unchanged.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 1.21% to 16.74.

S&P 200 Technical Analysis: Daily Chart

S&P 200 Technical Analysis

In the daily charts, S&P 200 is trading a down channel. S&P 200 is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 6613.00 & the resistance level is at 6748.00.

S&P 200 INDEX will trade down the channel until there is a trend reversal.   

How to Trade S&P 200 INDEX this Week:

S&P 200 INDEX will follow the downtrend until its trend reversal. So, remain bearish on S&P 200 INDEX.

TRADE SUGGESTION- SELL AT 6689.00, TAKE PROFIT AT 6613.00 AND STOP LOSS AT 6748.00