{"id":62408,"date":"2013-08-31T13:48:10","date_gmt":"2013-08-31T03:48:10","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/08\/31\/australian-stocks-what-happened-today-160\/"},"modified":"2013-08-31T13:48:10","modified_gmt":"2013-08-31T03:48:10","slug":"australian-stocks-what-happened-today-160","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/08\/31\/australian-stocks-what-happened-today-160\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"
By Ashley Jessen<\/div>\n
\n

30 August 2013 ASX Market Summary – Invast Financial Services<\/strong><\/p>\n

Mixed leads overnight with the Dow Jones in the positive, Gold, Silver and Crude suffering and the Euro dollar taking a big hit provided a hesitant start to our trading session as market participants digested military action in Syria and the potential Septaper (the Fed cutting back their stimulus program). Fortunately we were able to bounce back strongly from a small run to the downside on the S&P\/ASX 200 to post a 42.6 point rise or 0.83% on surging volume of $5.5 billion.<\/p>\n

Full green screens across all sectors will provide a more interesting start to the weekend compared to the week just gone and potentially an ideal way to kick off September if a follow through is possible come Monday. The Utilities and Health Care sectors provided the greatest boost, rising 1.49% and 1.33% respectively. Those struggling a little but still in the green were the Information Technology stocks and Financials, managing a 0.06% and 0.61% gain.<\/p>\n

Looking over the charts<\/strong><\/p>\n

Whilst the bulls aren’t quite rejoicing at this early stage, today’s market action has paved the way for a bullish continuation pattern from the recent strong rise since late June, with the ascending triangle formation beginning to take excellent shape. Despite the early morning hiccup our market was bought up feverishly with a beautiful steady uptrend in place from mid morning to the close. Given today’s open green candle closing on its high and coming off yesterday’s hammer, we can only start to think optimistic thoughts for the upcoming week.<\/p>\n

ASX top 200 stock analysis<\/strong><\/p>\n

29% of stocks are showing oversold levels, 15% are showing overbought levels and 59% of stocks are currently above their long term moving average as of close of trading today.<\/p>\n

S&P\/ASX 200 Gainers and Losers<\/strong><\/p>\n

Perseus Mining ((PRU)) held on to the $0.70 mark with a piercing line candle formation where the stock opens lower and closes above the midpoint of the previous days candle, forging ahead 0.86% on steady volume. St Barbara ((SBM)) came off yesterday’s 15% drop by posting a solid 8.78% rise with another piercing line candle formation, which may be a sign of things to come for next week considering how bullish that signal is.<\/p>\n

Top 5 gainers:<\/p>\n

PERSEUS MINING +9.86%
\nST BARBARA +8.78%
\nBEADELL RESOURCES ((BDR)) +7.06%
\nNRW HOLDINGS ((NWH)) +7.03%
\nREGIS RESOURCES ((RRL)) +5.90%<\/p>\n

Discovery Metals ((DML)) continues its bad run sitting precariously on the $0.15 support level with today’s 6.06% drop, leaving little room for optimism among those that hold the stock. Virgin Australia Holdings ((VAH)) has been bouncing around for well over a year with patchy volume and patchy market action and today’s 3.70% fall is synonymous with its fairly boring range bound trading sessions.<\/p>\n

Top 5 Losers:<\/strong><\/p>\n

DISCOVERY METALS -6.06%
\nVIRGIN AUSTRALIA HOLDINGS -3.70%
\nHORIZON OIL ((HZN)) -2.99%
\nCHARTER HALL GROUP ((CHC)) -2.79%
\nFAIRFAX MEDIA ((FXJ)) -2.73%<\/p>\n<\/div>\n

Reprinted with permission of the publisher.<\/em> Content included in this article is not by association the view of FNArena (see our disclaimer<\/a>).<\/em><\/div>\n
 <\/div>\n
Author's Disclaimer:<\/em><\/div>\n
\n
\n

CFDs are high risk derivative products and may not be suitable for all investors. You can lose more than your initial deposit and there is a credit risk. Please read the PDS on our website at invast.com.au<\/a> and decide whether CFD trading meets your investment objectives, needs and situation before trading. We recommend you seek independent advice.<\/em><\/p>\n

Invast Financial Services (ABN: 48 162 400 035) is regulated by ASIC (AFSL No. 438 283)<\/em><\/p>\n<\/div>\n<\/div>\n

\"\"<\/p>\n

\nTechnical limitations<\/strong><\/em><\/p>\n

If you are reading this story through a third party distribution channel and you cannot see charts referred to<\/em>, we apologise, but technical limitations are to blame.<\/em><\/strong><\/p>\n

Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A wrap of the day’s activity on the Australian stock market.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62408"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=62408"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62408\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}