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Aussie 200 Index Gainers & Losers plus Market Snapshot 1 December 2014

Invast

Gold, Copper, Iron Ore and Brent Crude have really taken a beating over the last few trading sessions with the negative sentiment having a strong bearish bias across our Aussie Dollar and Aussie 200 index, with today’s index market action disappointing to the downside by 105.3 points. The Swiss Gold Referendum came back with 73 per cent of respondents saying no, which had the effect of dropping the Gold price over $15 per ounce.

How did the Aussie market perform today?

S&P/ASX200 lost 105.3 points or -2.02% on volume of $5.31 billion, closing ­­at 5207.7.

Australian sector watch

1Dec2014

Looking over the charts

  • The Aussie 200 index has really felt the pinch from the global commodity down turn, which only worsened on Friday, pushing our index below the key 5280 support level.
  • Today’s bearish sentiment had no turning back with our market closing towards the lows of the session, further emphasising how dire the immediate situation is. Commodities have well and truly dominated our index and Aussie Dollar and unfortunately that dominance has only helped the bears.
  • Momentum is clearly to the downside at present and we’ve just closed below the recent support level but maintain the possibility of a higher low from the October lows, which could be our only saving grace.
  • Support is currently sitting at 5200 and below that at 5170 and then at 5130 with resistance continuing to build at 5235, 5255 and above that at 5290.
ASX-200-market-update-1-December-2014

Chart Courtesy of Invast MT4

ASX top 200 stock analysis

38% of stocks are showing oversold levels, 11% are showing overbought levels and 34% of stocks are currently above their long term moving average as of close of trading today. View the image below to better understand overbought and oversold levels.

ASX-200-market-update-14-Jan-2014

S&P/ASX 200 Gainers and Losers

Top 5 gainers:

  • QAN QANTAS AIRWAYS +4.69%
  • TEN TEN NETWORK HOLDINGS +4.08%
  • PBG PACIFIC BRANDS +1.92%
  • SPK SPARK NEW ZEALAND +1.77%
  • AMC AMCOR +1.64%

Top 5 Losers:

  • LNG LIQUEFIED NATURAL GAS -22.46%
  • HVNR HARVEY NORMAN HOLDINGS -22.22%
  • PNA PANAUST -19.15%
  • EVN EVOLUTION MINING -18.69%
  • NST NORTHERN STAR RESOURCES -17.87%

Please note that these are our initial impressions and that it is important to read all disclaimers on this website when considering the information. If you would like to discuss further please contact:

Ashley Jessen
Director of Communications
Email: ashley_jessen@invast.com.au
Phone: 02 8036 7567

Source: https://blog.invast.com.au/news/aussie-200-index-gainers-losers-plus-market-snapshot-1-december-2014#.VHwP2DGUcYF
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