Australian Stocks: What Happened Today?

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            [0] => ((NVT))
            [1] => ((MTS))
            [2] => ((DCG))
            [3] => ((MGX))
            [4] => ((FLT))
            [5] => ((PRU))
            [6] => ((SAI))
            [7] => ((AGO))
            [8] => ((WHC))
            [9] => ((MND))
        )

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            [0] => NVT
            [1] => MTS
            [2] => DCG
            [3] => MGX
            [4] => FLT
            [5] => PRU
            [6] => SAI
            [7] => AGO
            [8] => WHC
            [9] => MND
        )

)

List StockArray ( [0] => MTS [1] => DCG [2] => MGX [3] => FLT [4] => PRU [5] => WHC [6] => MND )

By Ashley Jessen

ASX Top Gainers & Losers plus Market Snapshot – 29 October 2013

Mixed leads from the US markets combined with Crude Oil managing a small upswing from recent trading, opened the door to a fairly mixed session and when you throw in Apple suggesting softer expectations on their margins going forward, you have a recipe for an average day. In the end the S&P/ASX 200 fell 25.9 points of 0.48% on nearly $4 billion in turnover.

The big news was the RBA governor Glen Stevens, coming out and suggesting the Aussie Dollar is at artificially high levels, which saw the market pull back 50 pips within an hour of his talk.

Yesterday we saw green across nearly all screens and unfortunately today was almost the exact opposite, with all but 2 sectors falling in value. Telecommunications Services and Information Technology sectors both firmed on the day, rising 0.36% and 0.10% respectively. Industrials and Energy sectors almost moved lock-in-step to the downside with Industrials down 1.51% and the Energy sector falling 1.43%.

Looking over the charts

Yet again we follow up a fairly robust breakout to the upside with a pull back, denting any sort of momentum gathered in the short term and will have to see where this pull back moves next. We start to notice a very minor bearish divergence signal emerging but certainly far from significant and this will be another one to keep an eye on. On an intraday basis our market did find weakness early in the session before traders bought the index back up to within 7 points of the open, only to sell off from 1pm onwards and all the way to the close. The market appears to be gravitating back towards the 5400 level which will potentially turn into support going forward.

ASX top 200 stock analysis

14% of stocks are showing oversold levels, 28% are showing overbought levels and 62% of stocks are currently above their long term moving average as of close of trading today.

S&P/ASX 200 Gainers and Losers

Navitas ((NVT)) had a dramatic fall yesterday but managed to recover 3.51% of that fall on slightly higher volume, which will bode well for those who are long the stock and still looking at the possible breakout into new blue sky territory. Metcash ((MTS)) has been consolidating for over a month, off the back of a significant downtrend and managed a small break to the upside of 3.12% on steady volume.

Top 5 gainers:

NVT       NAVITAS +3.51%
MTS       METCASH +3.12%
((DCG))       DECMIL GROUP +2.82%
((MGX))      MOUNT GIBSON IRON +2.31%
((FLT))         FLIGHT CENTRE +2.30%

Perseus Mining ((PRU)) had a very rough day and gave back 5 straight up days worth of gains to pull back 16.54% on nearly 15 million shares changing hands after announcing a dip in production during the first quarter of the 2014 financial year. SAI Global ((SAI)) had a fairly rough head and shoulders pattern emerging and today broke through the neckline by falling 6.18% on rising volume and is sitting precariously on support at $4.10.

Top 5 Losers:

PRU       PERSEUS MINING -16.54%
SAI         SAI GLOBAL -6.18%
((AGO))      ATLAS IRON -5.48%
((WHC))      WHITEHAVEN COAL -5.31%
((MND))     MONADELPHOUS GROUP -5.04%

 

Reprinted with permission of the publisher. Content included in this article is not by association the view of FNArena (see our disclaimer).