Markets became somewhat rattled by the attack on the Parliament House in Canada overnight, pushing the Dow Jones and S&P500 indices lower by nearly one per cent, but the Aussie 200 index showed some internal strength across the Telco and Finance sectors to remain flat for the day. The HSBC Chinese Manufacturing PMI data came in at 50.4 versus a consensus of 50.2 but that was unable to inspire the bulls on the Aussie index or Aussie Dollar.
How did the Aussie market perform today?
S&P/ASX200 lost 2.8 points or -0.05% on volume of $3.25 billion, closing at 5383.1.
Australian sector watch
Looking over the charts
- The Aussie 200 index has remained relatively calm to despite Crude falling and the Canadian Parliament shooting and actually managed to claw back the losses from early in the trading session.
- On an intraday level our market was quite choppy gyrating in a 25 point range for most of the session as it teeters on a potential break and close above the 5390 resistance level.
- Australia’s mining sector took a solid hit today as Iron Ore futures pulled back so to only close down a few points despite the heavy falls on BHP, RIO and FMG, shows some solid internal strength on the Aussie index.
- Support is currently sitting at 5370 and below that at 5340 and 5300 with resistance at 5400 and above that at 5420.
Chart Courtesy of Invast MT4
ASX top 200 stock analysis
8% of stocks are showing oversold levels, 46% are showing overbought levels and 30% 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:
- TEN TEN NETWORK HOLDINGS +6.52%
- SAI SAI GLOBAL +6.30%
- SKE SKILLED GROUP +5.41%
- PDN PALADIN ENERGY +2.99%
- RHC RAMSAY HEALTH CARE +2.78%
Top 5 Losers:
- LYC LYNAS CORPORATION -7.59%
- CDD CARDNO -7.14%
- SUL SUPER RETAIL GROUP -5.93%
- KAR KAROON GAS AUSTRALIA -5.06%
- MGX MOUNT GIBSON IRON -4.76%
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