{"id":62481,"date":"2013-09-12T17:54:13","date_gmt":"2013-09-12T07:54:13","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/09\/12\/australian-stocks-what-happened-today-169\/"},"modified":"2013-09-12T17:54:13","modified_gmt":"2013-09-12T07:54:13","slug":"australian-stocks-what-happened-today-169","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/09\/12\/australian-stocks-what-happened-today-169\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"
By Ashley Jessen<\/div>\n
\n

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

Australian unemployment figures came in worse than expected today with 10,800 jobs lost instead of 10,200 jobs added as originally forecast, driving the Aussie Dollar down 122 pips as a result, yet the local S&P\/ASX 200 managed to remain steady throughout the afternoon session, closing the day up 8.1 points or 0.15% on volume of $4.1 billion.<\/p>\n

Information Technology stocks had a brilliant up day today, hitting 1.24% and leading the other 10 sectors to the largest gain. Next we saw the Telecommunications sector rising a better than average 0.95% whilst the biggest losers were only down modestly in what ended up being a fairly flat day. Utilities and Financials were the worst performers but both only managed to fall a modest 0.26% and 0.13% respectively.<\/p>\n

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

Bullish momentum has carried forward for the 4th consecutive day and with Wall Street powering along and our market nearly breaking through resistance, one could be mistaken for thinking we are in the midst of a new possible bull market. With our market up nearly 14% off the 4632 lows and the overall market severely under exposed, one could imagine the possibility of further upside still to come. The Divergence signal has not formed with the stochastic rising above the previous top, making this a failed setup. We’ll keep our eye on any early warning signals for a top over the next few days.<\/p>\n

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

14% of stocks are showing oversold levels, 45% are showing overbought levels and 63% 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

Cudeco ((CDU)) got off to a blistering start today, gapping up significantly but was unable to maintain the early momentum, finishing the day up 5.50% on triple the average volume. Fleetwood Corporation ((FWD)) managed a solid performance today but the pattern was an inside day off yesterday’s dominant red candle but still up 4.05% on the day.<\/p>\n

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

CUDECO +5.50%
\nFLEETWOOD CORPORATION +4.05%
\nNEWS CORPORATION ((NNC)) +3.83%
\nIRESS ((IRE)) +3.16%
\nINVESTA OFFICE FUND ((IOF)) +3.08%<\/p>\n

Boart Longyear ((BLY)) never ceases to let us down for either the biggest gainer or loser and today the result was negative with the fall hitting a neat 10% drop and sitting right on support at $0.50. Emeco Holdings ((EHL)) saw profit taking continue from yesterday’s session with traders wiping off another 9.62% on double the average volume with possible support sitting at $0.22 or 1.5 cents below today’s close.<\/p>\n

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

BOART LONGYEAR -10.00%
\nEMECO HOLDINGS -9.62%
\nRESOLUTE MINING ((RSG)) -6.49%
\nKINGSGATE CONSOLIDATED ((KCN)) -6.41%
\nPERSEUS MINING ((PRU)) -5.38%<\/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\/62481"}],"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=62481"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62481\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}