ASX Top Gainers & Losers plus Market Snapshot – 7 August 2014

Unemployment figures really turned heads today for all the wrong reasons, rising to 6.4 per cent versus analysts’ expectations of 6 per cent, which sent the Aussie Dollar plummeting over 80 pips and below the psychological support at 0.9300. Rio Tinto (RIO:ASX) reported at 4:30pm today highlighting record Iron Ore shipments and production records hit with the first half dividend up 15 per cent.

How did the Aussie market perform today?

S&P/ASX200 lost 3 points or -0.05% on volume of $2.3 billion, closing ­­at 5509.

Australian sector watch

Looking over the charts

• The Aussie 200 index is at an interesting juncture with current levels barely holding after the recent sell off, yet the market continues to trade nervously as if it is expecting some further downside.
• The stochastic is definitely buried in the oversold region and the indicator we watch below continues to show an abundance of top 200 stocks stretched to the downside, relative to those at the high end of their ranges.
• At this early stage it is hard to tell but right now the market hasn’t broken into a new lower low and is coming off a recent higher high, so traders appear to be at worst, cautiously optimistic and bullish. Today’s doji star finish indicates indecision and given where this has happened, it would appear traders are indecisive with letting the market slip lower.
• Support is sitting at 5500 (current price) then next down at 5490 and 5455 with resistance remaining the same at 5530 and 5560.

ASX top 200 stock analysis

50% of stocks are showing oversold levels, 10% are showing overbought levels and 55% 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:

• BDR        BEADELL RESOURCES +8.60%
• AAD       ARDENT LEISURE GROUP +6.77%
• RRL         REGIS RESOURCES +6.07%
• PDN       PALADIN ENERGY +5.80%
• NST        NORTHERN STAR RESOURCES +5.51%

Top 5 Losers:

• PBG       PACIFIC BRANDS -4.35%
• AWE      AWE -4.30%
• ABC        ADELAIDE BRIGHTON -4.19%
• COH       COCHLEAR -3.98%
• LEI          LEIGHTON HOLDINGS -3.07%

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, 07 Aug, 2014 / 9:17

Source : http://blog.invast.com.au/news/asx-top-gainers-losers-plus-market-snapshot-7-august-2014#.U-NDtfmSwYF