Positive leads from the international bourses, with the Dow Jones up 1.31 per cent, provided a solid footing for the local Aussie Index managing to jump a quick-fire 45 points before closing the day up 18.8 or 0.3 per cent. Solid gains came from the Energy and Materials sectors with the likes of Fortescue Metals (ASX:FMG) up 5.83 per cent. The Aussie Dollar appeared to be taken off life support overnight, hitting lows of 0.7719 before steadying with Gold also losing ground and sitting around the $1260 per ounce.
How did the Aussie market perform today?
S&P/ASX200 gained 18.8 points or +0.34% on volume of $8.01 billion, closing at 5588.3.
Australian sector watch
Looking over the charts
- The Aussie 200 Index managed to move above the critical resistance point, closing above 5550 off the back of extreme strength across the banks and a few of the miners starting to rebound.
- Technically we have now moved into new recent highs, not seen since the 5th of September last year, providing a real interest among the bulls to see if new 6 year highs are possible in 2015.
- Momentum continues to favour the bulls but we are now getting fairly stretched to the upside with the likes of National Australia Bank (ASX:NAB) up 13.95%, and Macquarie Bank (ASX:MQG) up 13.74% and Commonwealth Bank (ASX:CBA) up 8.1% since recent lows.
- Support is currently sitting at 5570 and below that at 5550 and 5500 with resistance above at 5620 and 5640.
Chart Courtesy of Invast MT4
ASX top 200 stock analysis
8% of stocks are showing oversold levels, 49% are showing overbought levels and 57% 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:
- BPT BEACH ENERGY +6.67%
- NEC NINE ENTERTAINMENT CO. HOLDINGS +6.63%
- FMG FORTESCUE METALS GROUP +5.83%
- MMS MCMILLAN SHAKESPEARE +5.60%
- AWE AWE +5.49%
Top 5 Losers:
- BDR BEADELL RESOURCES -9.52%
- EVN EVOLUTION MINING -9.09%
- NST NORTHERN STAR RESOURCES -7.95%
- SEA SUNDANCE ENERGY AUSTRALIA -5.10%
- SKE SKILLED GROUP -5.07%
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