Australian Stocks: What Happened Today?

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            [1] => ((DLS))
            [2] => ((DJS))
            [3] => ((MQG))
            [4] => ((TEN))
            [5] => ((BPT))
            [6] => ((NST))
            [7] => ((SXL))
            [8] => ((ASL))
            [9] => ((PNA))
            [10] => ((SLR))
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            [1] => DLS
            [2] => DJS
            [3] => MQG
            [4] => TEN
            [5] => BPT
            [6] => NST
            [7] => SXL
            [8] => ASL
            [9] => PNA
            [10] => SLR
        )

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List StockArray ( [0] => MQG [1] => MQG [2] => BPT [3] => NST [4] => SXL [5] => ASL )

By Ashley Jessen

ASX Top Gainers & Losers plus Market Snapshot – 01 November 2013

Volatility was running high across the US markets, pushing it into a negative close and with Gold, Silver and Crude Oil down overnight it was expected that we would see a negative session on our local market. Initially we retreated some 20 points before we too had quite a choppy, volatile trading session and in the end the S&P/ASX 200 closed weaker by 14.4 points or 0.27% on fairly weak trading volume.

The big number out today was Chinese Manufacturing with the Manufacturing PMI official number hitting 51.4, which did little to boost our Aussie market. In other news Macquarie Bank ((MQG)) reported today noting figures were 2% better than the expectation, which well and truly pleased the market with the share price hitting fresh 4 year highs plus as a bonus, shareholders will receive 25 cents more on their dividend cheques.

Despite the market being down modestly we saw almost full red screens across the sectors with all but the Financials and Real Estate Investment Trusts rising, which was the exact opposite from yesterday when all but the financials rose. Financials fell 0.13% whilst the Real Estate Investment Sector fell 0.18%. The Industrials and Utilities sector were the hardest hit getting sold off 1.39% and 1.23% respectively.

Looking over the charts

Markets continue to consolidate but more importantly are holding above the 5400 level, despite the bearish divergence signal continuing to show its face. If we were to draw an upward sloping trend channel on the recent move up from the mid October lows, we would note that the market has broken through on the downside so we will need to pay attention to this break and give it some respect. Clearly the break is a soft one so we’ll need to keep an eye on it to see what transpires.

ASX top 200 stock analysis

22% of stocks are showing oversold levels, 20% are showing overbought levels and 63% of stocks are currently above their long term moving average as of close of trading today.

S&P/ASX 200 Gainers and Losers

Drillsearch Energy ((DLS)) has well and truly outperformed over the last 2 days, with today’s gain of 7.34% allowing the company to close above previous resistance at $1.28 and approach nearby resistance at $1.45 and the good news is that volume has been rising. David Jones ((DJS)) had been solid off steadily over the last month but today’s 6.62% rise, off the back of their first quarter sales report, has enabled it to gain much of the profit taking that has happened recently.

Top 5 gainers:

DLS                DRILLSEARCH ENERGY +7.34%
DJS                DAVID JONES +6.62%
((MQG))          MACQUARIE GROUP +4.22%
((TEN))            TEN NETWORK HOLDINGS +3.57%
((BPT))            BEACH ENERGY +3.50%

Northern Star Resources ((NST)) had been struggling recently and the recent attempt to break higher was halted today with a 8.43% decline on rising volume, pushing the price back towards support at $0.80. Southern Cross Media Group ((SXL)) took a small step back after a solid year with the price rising nearly 85% but profit takers decided to step in and pushed the price down 6.35% after coming so close to breaking into new recent highs.

Top 5 Losers:

NST                NORTHERN STAR RESOURCES -8.43%
SXL                SOUTHERN CROSS MEDIA GROUP -6.35%
((ASL))            AUSDRILL -5.56%
((PNA))            PANAUST -5.45%
((SLR))            SILVER LAKE RESOURCES -5.19%

 

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