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ASX Top Gainers & Losers plus Market Snapshot – 2 October 2014

Geopolitical unrest, Ebola concerns in the US and Hong Kong protests appear to have weighed quite heavily on the international bourses with an unimpressive 1.32 per cent drop on the S&P500, which is in the midst of the 5th longest rally since the year 1900. Our Aussie market saw a full screen of red today with all sectors falling and our market down 36.4 points by the close of the session.

How did the Aussie market perform today?

S&P/ASX200 lost 36.4 points or -0.69% on volume of $3.2 billion, closing ­­at 5297.7.

Australian sector watch

2Oct2014

Looking over the charts

  • Plenty of activity on the Aussie 200 index today, starting with a sharp drop on open, following the terrible close on Wall Street, but the market did consolidate after that initial 45 point drop to steady into the close.
  • Indecision seems to be the key play at present with market activity gyrating between 5235 and 5310 and with our market down 394 points, or 6.9% since the recent highs, we are teetering ever so close to a 10 per cent correction.
  • Stochastics are showing a double bottom on the daily chart but still well and truly in the oversold region and it appears quite the challenge for markets to be able to rise above this recent sell-off and approach those 6 year highs anytime soon.
  • Support is currently sitting at 5270 and below that at 5235 with resistance building at 5300 and then the next level is sitting at 5320.

ASX-200-market-update-2-October-2014

Chart Courtesy of Invast MT4

ASX top 200 stock analysis

35% of stocks are showing oversold levels, 9% are showing overbought levels and 33% 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:

  • WTF       WOTIF.COM HOLDINGS +6.47%
  • RSG        RESOLUTE MINING +5.75%
  • LYC         LYNAS CORPORATION +5.06%
  • AHY        ASALEO CARE +4.21%
  • MGX      MOUNT GIBSON IRON +4.00%

Top 5 Losers:

  • LNG       LIQUEFIED NATURAL GAS -8.11%
  • BKN       BRADKEN -7.62%
  • PDN       PALADIN ENERGY -5.13%
  • AWC      ALUMINA -4.61%
  • REC        RECALL HOLDINGS -3.97%

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

Thursday, 02 Oct, 2014 / 9:39

Source : http://blog.invast.com.au/news/asx-top-gainers-losers-plus-market-snapshot-2-october-2014#.VC0dFvmSwYF

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