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ASX 200 HITS ALL-TIME HIGH 0N THE IMPROVED PROSPECT OF U.S-CHINA TRADE DEAL - Capital Street FX

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    • ASX 200 HITS ALL-TIME HIGH 0N THE IMPROVED PROSPECT OF U.S-CHINA TRADE DEAL
28-Nov
19:51 IST

ASX 200 futures are currently trading at 6882-higher by 0.07% as compared to the previous closing. The contract closed in the positive territory in the last trading session also.

In the Cash Markets, the ASX 200 added 0.20% to close at 6,864.00 on Thursday, hitting a new all-time high.

The gain in ASX 200 was supported by telecoms services, Healthcare, and IT sectors.

Service Stream LTD was the best performer on Thursday which rose 5.04% followed by Telstra Corporation LTD. which added 4.04%

G.U.D Holding was the worst performer of the day, which fell 5.04%, followed by Virgin money, which lost 3.58%.

Overall, rising stocks outnumbered declining stocks by 603 to 502, and 352 remained unchanged.

The volatility index ASX 200 VIX was down by 0.45% to 11.27.

The Australian market was supported by upbeat economic data coming from the U.S and also due to prospects of a trade deal between the U.S and China.

On the data front, the Australian Private New Capital Expenditure for the third quarter released today. The index has fallen by 0.2% on a quarter-on-quarter basis.

The Australian dollar experienced intense selling pressure on Thursday after the U.S president signed the Hong Kong human right bill.

On the technical front, the ADX show an increase in bullish momentum, also confirmed by a rising MACD histogram. The market is trading above the upper band of the Bollinger bands.

Overall Bias is Positive, and Short-term trades can be initiated with below mentioned Stop Loss and Profit targets.

 

TRADE SUGGESTION- BUY@6880, STOPLOSS@6870, TARGET@6900

 

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