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ASX Top Gainers & Losers plus Market Snapshot – 19 September 2014

Global markets continue to either approach new all-time highs or break through to new record highs, as the markets digest Janet Yellen’s FOMC meeting plus the excitement around the Scottish Independence vote and what that means to global markets. Most affected (in a positive way) was the British Pound, which has rallied valiantly off the recent lows, with our Aussie Dollar unable to inspire, currently sitting around 0.8964.

How did the Aussie market perform today?

S&P/ASX200 gained 17.3 points or +0.32% on volume of $4.5 billion, closing ­­at 5433.1.

Australian sector watch

19Sep2014

Looking over the charts

  • The Aussie 200 index continues to bounce around at current depressed levels, which isn’t surprising given the sell-off across the commodities, yet in contrast the S&P500 continues to reach all-time highs.
  • A quick glance around global indices highlights how strong the uptrends are yet the Aussie market maintains its oversold levels, languishing in the low 5400 levels.
  • On a positive note we did see the market test the open price an hour after the open and the market bounced from there and maintained a positive bias for the rest of the day, closing towards the intraday highs on the cash XJO, although the chart below does show a sell-off from the intraday highs on the Cash futures price.
  • Support is currently sitting at 5400 and then below that at the all-important 5370 mark. Resistance will hopefully continue to get broken and is at 5440 and 5460.

ASX-200-market-update-19-September-2014

Chart Courtesy of Invast MT4

ASX top 200 stock analysis

54% of stocks are showing oversold levels, 4% are showing overbought levels and 39% 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:

  • SDF        STEADFAST GROUP +6.35%
  • SFR         SANDFIRE RESOURCES NL +5.82%
  • BDR        BEADELL RESOURCES +5.56%
  • KMD      KATHMANDU HOLDINGS +4.83%
  • TPM       TPG TELECOM +4.62%

Top 5 Losers:

  • ARI         ARRIUM -6.25%
  • NST        NORTHERN STAR RESOURCES -4.91%
  • FMG      FORTESCUE METALS GROUP -4.33%
  • MML     MEDUSA MINING -4.04%
  • ABP        ABACUS PROPERTY GROUP -3.86%

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

Friday, 19 Sep, 2014 / 9:30

Source : http://blog.invast.com.au/news/asx-top-gainers-losers-plus-market-snapshot-19-september-2014#.VBv3MvmSwYF

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