Issues in Hong Kong initially rocked the US markets, forcing them down considerably before buyers came back in, allowing the indices in America to close slightly down on the day. Our Aussie Index was less volatile on open and managed to hold its ground before pushing higher for the rest of the day, rising 28.6 points by the end of the session.
How did the Aussie market perform today?
S&P/ASX200 gained 28.6 points or +0.54% on volume of $3.3 billion, closing at 5292.8.
Australian sector watch
Looking over the charts
- The Aussie 200 index has managed to hold on to the current levels of support, but only just, fighting back to day with a handy 28.6 point gain.
- Fortunately for those still focused on the long side, the market held the 5270 support, touching it a couple of times intraday and rallying into the close.
- One day doesn’t make a trend, but momentum to the downside is at least holding, for now and given the amount of price we’ve seen, we could see time catch up and a potential consolidation from here.
- Support is currently at 5265 and then below that at 5230. Resistance continues to build at 5300 and then 5340.
Chart Courtesy of Invast MT4
ASX top 200 stock analysis
56% of stocks are showing oversold levels, 7% 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.
S&P/ASX 200 Gainers and Losers
Top 5 gainers:
- REC RECALL HOLDINGS +11.55%
- TGR TASSAL GROUP +5.14%
- LNG LIQUEFIED NATURAL GAS +4.53%
- MGX MOUNT GIBSON IRON +3.81%
- PGH PACT GROUP HOLDINGS +3.66%
Top 5 Losers:
- LYC LYNAS CORPORATION -6.98%
- TWE TREASURY WINE ESTATES -5.78%
- AGO ATLAS IRON -5.62%
- NST NORTHERN STAR RESOURCES -4.96%
- VRT VIRTUS HEALTH -4.19%
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