TECHNICAL ANALYSIS: TSX Moves Lower; Most Sectors Down; Internals Turn Negative
The TSX is lower in afternoon trade on Friday, down around 110 points. Most sectors are lower, yet again driven by losses in Metals and Mining. But Healthcare has bucked the trend.
The TSX is approaching support near the 50-day moving average at 14,433, with resistance seen near Wednesday's high at 14,700.
The percent of stocks in the TSX that are above the 50-day moving average has declined to 56%, which is the lowest percent level since February. With more stocks moving lower, negative momentum could pick up on the broader index.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
