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FTSE 350 sectors - update
FTSE 350 sectors - update
Posted in FTSE100 analysis
on 11/07/10
The recent price action has knocked all but one of the sectors with a bearish bias off the list, as they have either climbed above their 200 day moving average, or have reached a point where their under performance versus the overall market is now less than 5%.
The sector remaining is Alternative energy.
Conversely, we now have seven sectors with a bullish bias:
Electricity
Electronic & electrical equipment
Fixed line telecommunications
Industrial engineering
Non life insurance
Personal goods
Technology hardware.
We have seen a number of these kinds of swings from one week to the next, during a phase when the overall market has been choppy and effectively swingin within a wide trading range.
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