ASX 200 eyes new highs

Michael Gable from Fairmont Equities shares his analysis on the ASX 200, indicating it's poised to reach new highs. He observes that the market experienced a false break at a support level near 8100, signalling buyer resilience, setting the stage for an upward trend.

Michael highlights several stocks with potential buying opportunities. ResMed (ASX:RMD) shows an upside breakout, Pinnacle Investment Management (ASX:PNI) respects its 50-day moving average, and Superloop (ASX:SLC) is bouncing off trend lines. Michael sees Pro Medicus (ASX:PME) consolidating well, suggesting potential for new highs.

Each of these stocks, according to Michael, demonstrates solid trends and favourable entry points for investors aiming to capitalise on market momentum without bottom fishing. It's a compelling time to consider these opportunities in the Australian market.