ASX Top Gainers & Losers plus Market Snapshot – 30 July 2014

Lacklustre overseas bourses were no road block for the Aussie 200 index today, which powered above the 5600 level, providing fresh six year highs with highlights coming from the Utilities and Industrial sectors. Quite a big economic announcement night with US GDP and the interest rate decision at the FOMC meeting in Washington.

How did the Aussie market perform today?

S&P/ASX200 gained 34.5 points or +0.61% on volume of $3.6 billion, closing ­­at 5622.9.

Australian sector watch

Looking over the charts

• The Aussie 200 index enjoyed another positive day, decoupling from the flat trading sessions across Europe and the US, pushing through the 5600 and more importantly, closing above that level.
• With strength coming through most Asian bourses it appears we are going to see more of a continued uptrend going forward and this is despite the fact that both Gold and Copper recently had losing sessions.
• On an intraday basis our market jumped out of the gates early pushing the barriers at the 5630 level but failed to impress further from that level, tracking sideways to slightly down for the last 4 hours of the session.
• Support is currently sitting back down at 5600 and then at 5565 and these levels continue to firm up. Resistance levels require us to look back 6 years and 5645 stands out as an initial resistance point but for the near term we see blue sky territory ahead.

ASX top 200 stock analysis

12% of stocks are showing oversold levels, 37% are showing overbought levels and 70% 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:

• ALQ        ALS +6.00%
• MGX      MOUNT GIBSON IRON +5.15%
• AGO      ATLAS IRON +5.04%
• CAB        CABCHARGE AUSTRALIA +4.72%
• QBE        QBE INSURANCE GROUP +4.45%

Top 5 Losers:

• LYC         LYNAS CORPORATION -4.65%
• TME       TRADE ME GROUP -4.08%
• MML     MEDUSA MINING -3.97%
• RSG        RESOLUTE MINING -2.38%
• AGI        AINSWORTH GAME TECHNOLOGY -2.33%

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

Wednesday, 30 Jul, 2014 / 8:03

Source : http://blog.invast.com.au/news/asx-top-gainers-losers-plus-market-snapshot-30-july-2014#.U9imgPmSwYE