Global indices started the weak a little muted and rattled with the big announcement coming out of Scotland and today our market fought off weak overnight leads to post a positive session, rising a robust 30.9 points, with strength coming from the Health Care and Property Trust sectors.
How did the Aussie market perform today?
S&P/ASX200 gained 30.9 points or +0.55% on volume of $3 billion, closing at 5607.9.
Australian sector watch
Looking over the charts
- The Aussie 200 index managed to bounce off the lows from the last two days and not just record a positive session but to actually close on the highs of the day.
- The current price is definitely in what we call ‘no-man’s land’, having broken support recently but today’s rally not enough to jump back into that zone, but the medium and long term trends are still bullish.
- Momentum is building to the upside but it would be fair to say it is a mixed bag, with the stochastic yet to have a positive bullish cross and certainly no bullish divergence is being recorded.
- Support is sitting right on the round 5600 level and below that at 5585. Resistance is just above current prices at 5625 and then at the 5640 level.
Chart Courtesy of Invast MT4
ASX top 200 stock analysis
38% of stocks are showing oversold levels, 10% are showing overbought levels and 60% 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:
- RRL REGIS RESOURCES +8.33%
- SXY SENEX ENERGY +7.21%
- BRG BREVILLE GROUP +4.61%
- IGO INDEPENDENCE GROUP NL +4.61%
- ALL ARISTOCRAT LEISURE +4.39%
Top 5 Losers:
- BRU BURU ENERGY -3.41%
- LYC LYNAS CORPORATION -3.23%
- VRL VILLAGE ROADSHOW -2.84%
- RSG RESOLUTE MINING -2.83%
- NST NORTHERN STAR RESOURCES -2.67%
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