logo-loader
viewProactive Australia

Australian Stock Market remains bullish in 2020: Dale Gillham

Gillham is confident that the market will rise during the first half of this calendar year.

Australian Stock Market remains bullish in 2020: Dale Gillham
All Ordinaries Index rose strongly to achieve a new all-time high last week

Wealth Within chief analyst Dale Gillham expects the market to continue to rise over the next three to four weeks with the next peak likely to occur in mid-February.

Following is an extract from Gillham’s market wrap last week’s:

The run up on the market into Christmas was quite subdued and not at all how I expected the year to end with the All Ordinaries Index (INDEXASX:XAO) closing down by around 2 per cent during December.

In fact, if you have found that your portfolio has not done well in the second half of 2019, then you would not be surprised to learn that the market has only risen around 1.5 per cent in the last six months.

But everything changed this week with the All Ordinaries Index rising strongly to achieve a new all-time high with the market rising nearly 3 percent so far this month.

As I alluded to prior to Christmas, the market is bullish and the All Ordinaries Index will rise in January and beyond.

Right now, we can expect the market to continue to rise over the next three to four weeks with the next peak likely to occur in mid-February at around 7,200 points or above.

I am confident that our market will rise during the first half of this calendar year with my target set at around 7600 points.

Quick facts: Proactive Australia

Price: - -

ASX:.
Market: ASX
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

K2fly's Brian Miller reports near doubling in quarterly revenues

K2fly Ltd's (ASX:K2F) Brian Miller tells Proactive's Andrew Scott they've raised record invoices valued at approximately $1.63 million in the March quarter - that's an improvement of 94% over the corresponding quarter of 2019. He says it brings the total invoicing for this financial year to...

6 hours, 13 minutes ago

2 min read