{"id":19620,"date":"2020-01-15T07:45:48","date_gmt":"2020-01-15T07:45:48","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=19620"},"modified":"2020-01-15T08:03:03","modified_gmt":"2020-01-15T08:03:03","slug":"asx-leading-sectors","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/15\/asx-leading-sectors\/","title":{"rendered":"ASX Leading Sectors"},"content":{"rendered":"<p>The ASX 200 broke resistance at 6800, signaling a fresh advance. Expect retracement to test the new support level. Respect would strengthen the bull signal, confirming a fresh advance.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2020\/2020-01-15-xjo.png?w=525&#038;ssl=1\" alt=\"ASX 200 Quarterly\" \/><\/p>\n<p>At the same time, fundamentals are distinctly bearish, with falling retail sales and dwindling GDP growth. So, what sectors are driving the index?<\/p>\n<p>A comparison of the ASX 200 sector indices shows that the advance is led by Healthcare and Information Technology sectors, while the laggards are Financials, Utilities and Telecommunications.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2020-01-15-asx-sectors.png?w=525&#038;ssl=1\" alt=\"ASX Sector Comparison\" \/><\/p>\n<p>Top performers in Healthcare (with forward price-earnings ratio where available) are:<\/p>\n<ul>\n<li>Polynovo (PNV) &#8211; negative eps<\/li>\n<li>Clinuvel (CUV) &#8211; 79<\/li>\n<li>Pro Medicus (PME) &#8211; 137<\/li>\n<li>Nanosonics (NAN) &#8211; 158<\/li>\n<li>Resmed (RMD) &#8211; 55<\/li>\n<li>CSL (CSL) &#8211; 49<\/li>\n<li>Fisher &amp; Paykel Health (FPH) &#8211; 55<\/li>\n<\/ul>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2020\/2020-01-15-xhj.png?w=525&#038;ssl=1\" alt=\"ASX 200 Healthcare Top Performers\" \/><\/p>\n<p>In Information Technology, top performers are:<\/p>\n<ul>\n<li>Afterpay (APT) &#8211; negative eps (forward pe 476)<\/li>\n<li>Nearmap (NEA) &#8211; negative eps<\/li>\n<li>Bravura (BVS) &#8211; 37<\/li>\n<li>Appen (APX) &#8211; 58<\/li>\n<li>Xero (XRO) &#8211; 5998 (forward pe 270)<\/li>\n<li>Altium (ALU) &#8211; 63<\/li>\n<\/ul>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2020\/2020-01-15-xij.png?w=525&#038;ssl=1\" alt=\"ASX 200 Information Technology Top Performers\" \/><\/p>\n<p>The graph below compares PE Ratios on the y-axis to required Annual Growth in earnings on the x-axis. The curve plots the compound annual growth (CAGR) required for a 20-year income stream to deliver a 12.5% return on investment.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2020\/2020-01-15-peg30.png?w=525&#038;ssl=1\" alt=\"PE Ratio compared to Expected Growth\" \/><\/p>\n<p>What this illustrates is that PE Ratios above 50 should be treated with caution as they assume the ability to maintain high CAGR in earnings (e.g. above 20%) for long periods. Even when growing off a low base that can be difficult to achieve.<\/p>\n<p>Bottom line: many stocks in these sectors (Healthcare and IT) are highly-priced and vulnerable to strong draw-downs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The ASX 200 broke resistance at 6800, signaling a fresh advance. Expect retracement to test the new support level. Respect would strengthen the bull signal, confirming a fresh advance. At the same time, fundamentals are distinctly bearish, with falling retail sales and dwindling GDP growth. So, what sectors are driving the index? A comparison of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/15\/asx-leading-sectors\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ASX Leading Sectors&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,57],"tags":[251,1397,1666,1836,3061,3753,3581],"class_list":["post-19620","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-stock-markets","tag-asx-200","tag-financials","tag-healthcare","tag-information-technology","tag-sectors","tag-telecommunication","tag-utilities"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX Leading Sectors - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Leading Sectors - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The ASX 200 broke resistance at 6800, signaling a fresh advance. Expect retracement to test the new support level. Respect would strengthen the bull signal, confirming a fresh advance. At the same time, fundamentals are distinctly bearish, with falling retail sales and dwindling GDP growth. So, what sectors are driving the index? 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. 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Most bullish is the Financials sector, which is one of the few to reflect buying pressure. Utilities enjoyed a strong up-trend but now warns of selling pressure. Energy is the\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"ASX 200","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-06-19-xjo.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-06-19-xjo.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-06-19-xjo.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":51189,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/04\/17\/asx-200-sectors-retreat\/","url_meta":{"origin":19620,"position":1},"title":"ASX 200 sector retreat","author":"Colin Twiggs","date":"April 17, 2024","format":false,"excerpt":"The ASX 200 is testing support at 7600. The lower Trend Index peak (above zero) warns of secondary selling pressure. Breach of support, however, would signal a test of primary support at 7350. Sectors The largest sector, Financials, is undergoing a secondary correction -- headed for a test of support\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"ASX 200","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-04-17-xjo.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-04-17-xjo.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-04-17-xjo.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-04-17-xjo.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":26197,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/06\/06\/asx-breakout\/","url_meta":{"origin":19620,"position":2},"title":"ASX breakout","author":"Colin Twiggs","date":"June 6, 2021","format":false,"excerpt":"The ASX 200 broke through resistance at 7200, signaling a fresh primary advance. Target for the breakout is 80001. Bond ETFs continue their sideways ranging pattern, suggesting no upward pressure on long-term interest rates. Financials broke through resistance at 6500, signaling another advance with a target of 80002. ASX 300\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40482,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/01\/21\/asx-sector-performance\/","url_meta":{"origin":19620,"position":3},"title":"ASX sector performance","author":"Colin Twiggs","date":"January 21, 2023","format":false,"excerpt":"Leading sector gains on the ASX over the past 12 months are: Energy: 30.1% Utilities: 13.0% Materials: 5.7% Healthcare: 3.9% Staples: 3.1% Financials: 2.9% The Metals & Mining industry group also performed reasonably well, with a 12-month gain of 7.4%. A strong rally in iron ore, industrial metals and gold\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"ASX 300 Metals & Mining","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-01-20-xmm.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-01-20-xmm.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-01-20-xmm.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":32270,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/04\/27\/asx-sectors\/","url_meta":{"origin":19620,"position":4},"title":"ASX sectors","author":"Colin Twiggs","date":"April 27, 2022","format":false,"excerpt":"The ASX 200 respected resistance at 7600. Breach of the former primary support level at 7200 would warn of a bear market (and another test of 6800). An accelerating decline on Bond ETFs warns of a sharp rise in long-term interest rates. A-REITs are expected to fall as long-term interest\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"ASX 200","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-04-27-xjo.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-04-27-xjo.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-04-27-xjo.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-04-27-xjo.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":30972,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/02\/13\/asx-hesitates-3\/","url_meta":{"origin":19620,"position":5},"title":"ASX hesitates","author":"Colin Twiggs","date":"February 13, 2022","format":false,"excerpt":"The ASX 200 broke through resistance at 7200 but is now retracing to test the new support level. The declining Trend Index indicates selling pressure. A strong bearish shift Friday on US markets should see the ASX 200 retreat below 7200, warning of another test of primary support at 6800.\u00a0\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"ASX 200","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-02-14-xjo.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-02-14-xjo.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-02-14-xjo.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-02-14-xjo.png?resize=700%2C400&ssl=1 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=19620"}],"version-history":[{"count":3,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19620\/revisions"}],"predecessor-version":[{"id":19636,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19620\/revisions\/19636"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=19620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=19620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=19620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}