Mixed signals from global indices, combined with a negative session on the Iron Ore commodities market, provided the backdrop for a fairly negative session, with the Aussie 200 index unable to recover from early losses as reporting seasons starts to wind up, with most of the key ASX heavyweights having reported.
How did the Aussie market perform today?
S&P/ASX200 lost 26.8 points or -0.48% on volume of $4.2 billion, closing at 5624.4.
Australian sector watch
Looking over the charts
- The Aussie 200 Index failed to carry recent momentum forward, instead falling from recent highs to the bottom of the current consolidation range around 5620.
- Daily volatility has nearly halved over the last 2 weeks from an average daily movement of 61 points to 38 points as a lack of key economic data drives traders to move the market. Next week should be different will a number of key economic data points due out including non-farm payrolls.
- On an intraday basis our market started in negative territory, falling 20 points in the first 20 minutes and was unable to recover, closing towards the lows of the day, with the Materials and Energy sectors dragging the index down the most.
- Support is sitting at 5620 initially and below that we have 5600. Resistance is around the highs of the day at 5650-5655 and then 5684.
ASX top 200 stock analysis
15% of stocks are showing oversold levels, 29% are showing overbought levels and 66% 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.
S&P/ASX 200 Gainers and Losers
Top 5 gainers:
- QAN QANTAS AIRWAYS +6.95%
- MSB MESOBLAST +5.49%
- REC RECALL HOLDINGS +3.21%
- WHC WHITEHAVEN COAL +2.90%
- AGI AINSWORTH GAME TECHNOLOGY +2.74%
Top 5 Losers:
- BRU BURU ENERGY -8.00%
- AGO ATLAS IRON -7.32%
- JHC JAPARA HEALTHCARE -6.44%
- PTM PLATINUM ASSET MANAGEMENT -5.10%
- AWE AWE -5.03%
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