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Aussie 200 Index Gainers & Losers plus Market Snapshot 6 March 2015

China has been dominant in the headlines this week in respect to their estimated growth targets for 2015 and their seven per cent guideline (down from 7.5% growth in 2014) has not been welcomed by the Australian banks and resource sector. In addition we’ve seen Iron Ore prices fall over the last few sessions, now sitting below $60 per tonne, with the likes of Fortescue Metals (ASX:FMG), BHP Billiton (ASX:BHP) and Rio Tinto (ASX:RIO) suffering as a result. This has been the main catalyst for the pull back over the last four trading sessions.​

How did the Aussie market perform today?

S&P/ASX200 lost 5.3 points or -0.09% on volume of $4.03 billion, closing ­­at 5898.9.

Australian sector watch

06Mar2015

Looking over the charts

  • Tonight is all about the US non-farm payroll data with an expectation of 230,000 jobs being added, although an average taken from a handful of analysts is suggesting around 190,000. In the lead up we have noted the US Dollar strengthening which has pushed the Aussie Dollar to 78 cents and Gold continues to consolidate around $1,200 per ounce.
  • The Aussie 200 Index continues to move forward, albeit on ‘wobbly legs’, but importantly has managed to hold the 5870 support level, with Friday’s session bouncing off this mark for the third time this week.
  • Whilst we have been talking about the bearish divergence building over the last couple of weeks and the expectation of a pull back, it must be noted that the move down has been quite muted, especially given the impressive run up we’ve had recently combined with a less than stellar ASX reporting season.
  • Momentum in the short term is favouring the bulls but it is extremely clear that medium and long term momentum is still to the upside. We just need to monitor how far back this pull back will go before potentially getting set for another run higher.
  • Support is current sitting at 5870-5880 and below that at 5850 with resistance above at 5915 and 5945-5955.

ASX-200-market-update-6-March-2015

Chart Courtesy of Invast MT4

ASX top 200 stock analysis

23% of stocks are showing oversold levels, 17% are showing overbought levels and 66% 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:

  • MND     MONADELPHOUS GROUP +4.11%
  • RMD      RESMED INC +3.61%
  • LLC         LEND LEASE GROUP +3.33%
  • TNE        TECHNOLOGY ONE +3.11%
  • MQA     MACQUARIE ATLAS ROADS GROUP +2.80%

Top 5 Losers:

  • RRL         REGIS RESOURCES -26.70%
  • TAH        TABCORP HOLDINGS -10.81%
  • BDR        BEADELL RESOURCES -8.20%
  • FMG      FORTESCUE METALS GROUP -6.11%
  • AGO      ATLAS IRON -5.71%

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

 

Friday, 06 Mar, 2015 / 7:07

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://blog.invast.com.au/news/aussie-200-index-gainers-losers-plus-market-snapshot-6-march-2015#.VPlRgfmUcYE

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