{"id":62466,"date":"2013-09-10T17:18:15","date_gmt":"2013-09-10T07:18:15","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/09\/10\/australian-stocks-what-happened-today-167\/"},"modified":"2013-09-10T17:18:15","modified_gmt":"2013-09-10T07:18:15","slug":"australian-stocks-what-happened-today-167","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/09\/10\/australian-stocks-what-happened-today-167\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"
By Ashley Jessen<\/div>\n
\n

10 September 2013 ASX Market Summary – Invast Financial Services<\/strong><\/p>\n

Robust equity markets in the US were slightly offset by weaker commodity markets, with Gold, Silver and Crude Oil pulling back overnight. But the strength in stocks helped push our market up swiftly on the open, finding 30 quick points but was unable to improve on those early gains. At the close of trade the S&P\/ASX 200 managed to lift by 24.7 points or 0.47% to close at 5206.2 with intraday highs sitting at 5212.4, with volume coming in at $3.6 billion.<\/p>\n

Chinese industrial production figures came out today and were ahead of analyst's expectations, coming in at 10.4% versus a consensus of 9.9%. Adding to the positive sentiment we had Chinese Retail data out as well which saw a 13.4% increase over the period.<\/p>\n

The Information Technology sector well and truly outperformed the other sectors with a hearty 1.28% rise with the Real Estate Investment Trusts the next best, up 0.63% and coming off the back of several strong up days. Only two sectors were unable push their way out of negative territory with Utilities dropping 0.72% and the Health Care sector managing a less than impressive 0.44% fall.<\/p>\n

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

Sitting right on top of a near perfect double top shouldn't be worrying too many investors or traders with the S&P\/ASX 200 having a small breakthrough above recent resistance at 5207. Chartist will be interested to monitor the bearish divergence that is setting up with recent highs on the S&P\/ASX 200 being matched with the stochastic levelling out and falling slightly. Whilst the chart shows some minor distributive selling we can't note that as anything too restrictive for our market to potentially follow through and break higher from here.<\/p>\n

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

14% of stocks are showing oversold levels, 35% 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

Fleetwood Corporation ((FWD)) finally found some robust support after a considerable decline and managed a better than expected 11.68% gain on double the average volume and has resistance to push through at and above the $4 mark. Billabong International ((BBG)) has certainly been one of the most volatile stocks on our market over the last 3 months with today’s consolatory  gain of 9.30% barely making an impression in the charts with further work ahead at the $0.50 mark.<\/p>\n

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

FLEETWOOD CORPORATION +11.68%
\nBILLABONG INTERNATIONAL +9.30%
\nEMECO HOLDINGS ((EHL)) +6.00%
\nTRANSFIELD SERVICES ((TSE)) +5.74%
\nFKP PROPERTY GROUP ((FKP)) +5.26%<\/p>\n

Automotive Holdings Group ((AHE)) has never featured in the top gainers or losers and today managed to top the wrong list, falling 7.00% as resistance at the $4.00 market provide too challenging. Silver Lake Resources ((SLR)) has been in a steady decline for the last two weeks coming off recent highs above $1.00 with today’s 6.78% fall providing no support levels until the $0.70 mark.<\/p>\n

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

AUTOMOTIVE HOLDINGS GROUP -7.00%
\nSILVER LAKE RESOURCES -6.78%
\nPERSEUS MINING ((PRU)) -5.67%
\nST BARBARA ((SBM)) -5.63%
\nRESOLUTE MINING ((RSG)) -5.36%<\/p>\n<\/div>\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\/62466"}],"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=62466"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62466\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}