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Aussie 200 Index Gainers & Losers plus Market Snapshot 10 December 2014

US Markets took a turn for the worse overnight, losing ground quickly, before recovering for the rest of the session, providing a glimmer of hope for the Aussie market bulls, which unfortunately did not eventuate. Our local Aussie index maintained momentum to the downside on open, dropping a quick-fire 60 points before replicating the US market by rallying towards the close, finishing the day down 23.7 points.

How did the Aussie market perform today?

S&P/ASX200 lost 23.7 points or -0.45% on volume of $5.377 billion, closing ­­at 5259.

Australian sector watch

10Dec2014

Looking over the charts

  • The Aussie 200 index was sold off yet again but it does appear to be finding some common ground as commodities start to firm and in some cases, head higher, such as the price of Gold overnight.
  • As the index has moved lower, it is clear to note that we are seeing some bullish divergence in the stochastics, especially from the most recent low on the 1st of December.
  • As it stands, there appears to be a possibility for a low below the 1st of December low to confirm the bullish divergence, or we could see a break higher from here as the stochastics isn’t faltering at current levels.
  • Support is starting to build and we see it sitting at 5230 and below that at 5200. Above the current level, we see resistance at 5280 and above that at 5300 and then the next level is 5330.

ASX-200-market-update-10-December-2014

Chart Courtesy of Invast MT4

ASX top 200 stock analysis

29% of stocks are showing oversold levels, 17% are showing overbought levels and 37% 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.

ASX-200-market-update-14-Jan-2014

S&P/ASX 200 Gainers and Losers

Top 5 gainers:

  • RSG        RESOLUTE MINING +10.64%
  • MGX      MOUNT GIBSON IRON +10.53%
  • RRL         REGIS RESOURCES +8.78%
  • NST        NORTHERN STAR RESOURCES +7.69%
  • BDR        BEADELL RESOURCES +7.50%

Top 5 Losers:

  • HZN       HORIZON OIL -11.76%
  • BCI         BC IRON -7.06%
  • SEA        SUNDANCE ENERGY AUSTRALIA -6.25%
  • PRY        PRIMARY HEALTH CARE -6.03%
  • TPM       TPG TELECOM -5.62%

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, 10 Dec, 2014 / 8:22

Source : http://blog.invast.com.au/news/aussie-200-index-gainers-losers-plus-market-snapshot-10-december-2014#.VIgAtDGUcYE

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