Trading news

Aussie 200 Index Gainers & Losers plus Market Snapshot 20 October 2014

Markets rebounded impressively in Friday trading, both in Europe and the US, providing a strong impetus for bullish investors and traders to capitalise on positive moves to the upside, with the Aussie 200 index rallying a quick-fire 70 points before consolidating those gains to finish the session up 47.7 points with all sectors in the black.

How did the Aussie market perform today?

S&P/ASX200 gained 47.7 points or +0.90% on volume of $3.75 billion, closing at 5319.4.

Australian sector watch

20Oct2014

Looking over the charts

The Aussie 200 cash index jumped impressively following Friday’s positive session and better than expected news out of the US of A and sits at a critical junction for a potential rally higher or push lower.
5300-5350 is a big area for potential consolidation on the Aussie 200 index and could prove to be the tipping point for a move in either direction. If commodity markets, including Crude Oil, Gold and Iron Ore start to rally from here, then we are likely to see a push higher on our local index.
In the midst of the short-medium term downtrend, our market has managed to fight back to the overbought area (surprisingly) and is now hitting a lower high combined with an overbought signal, which is generally a bearish sign and one we’ll be keeping an eye on going forward.
Support is currently sitting at 5300-5310 and below that at 5270 with resistance at today’s high of 5340 and above that at 5370.

ASX-200-market-update-20-October-2014

Chart Courtesy of Invast MT4

ASX top 200 stock analysis

20% of stocks are showing oversold levels, 15% are showing overbought levels and 22% 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:

TEN TEN NETWORK HOLDINGS +7.32%
SKC SKYCITY ENTERTAINMENT GROUP +6.19%
MGX MOUNT GIBSON IRON +5.15%
REA REA GROUP +4.20%
SIP SIGMA PHARMACEUTICALS +4.05%

Top 5 Losers:

MML MEDUSA MINING -8.11%
DLS DRILLSEARCH ENERGY -5.56%
RSG RESOLUTE MINING -3.95%
KAR KAROON GAS AUSTRALIA -2.79%
NCM NEWCREST MINING -1.90%

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

Monday, 20 Oct, 2014 / 9:29