{"id":62509,"date":"2013-09-18T20:06:26","date_gmt":"2013-09-18T10:06:26","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/09\/18\/australian-stocks-what-happened-today-173\/"},"modified":"2013-09-18T20:06:26","modified_gmt":"2013-09-18T10:06:26","slug":"australian-stocks-what-happened-today-173","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/09\/18\/australian-stocks-what-happened-today-173\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"
By Ashley Jessen<\/div>\n
\n

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

Relatively flat US & European trading sessions overnight were highly indicative of the pending FOMC meeting taking place at 4am Thursday morning our time, with Ben Bernanke giving a speech 30 minutes later. Traders should expect information to be flowing from various live news sources and volatility will likely be high so please be aware of those details. The S&P\/ASX 200 managed a slightly negative session with a very narrow range, as could be expected with the FOMC meeting less than 12 hours away, falling 13.1 points or 0.24% to close at 5238.1 on volume of $3.7 billion.<\/p>\n

Another lacklustre session across the sectors with no dominating direction being found with Utilities providing the one shining light, rising 0.56%. Information Technology stocks managed a positive session but nothing too exciting, up 0.35%. Finding the going tough we saw both the Energy and Health Care sectors fighting it out for biggest loser with line honours going to Energy, down 0.76% with Health Care falling 0.75%.<\/p>\n

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

Yesterday’s doji star at the top of the market left the door open for a potential sideways trading session and that’s pretty much what we saw. Today’s range was just shy of 30 points so day trader would have found little joy out of today’s price action. Oscillators are showing overbought conditions but with the market hitting new recent highs that is expected and as no bearish divergence is showing we’d suggest people sit tight until the FOMC meeting and see what direction comes once the dust has settled.<\/p>\n

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

23% of stocks are showing oversold levels, 26% 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

TPG Telecom ((TPM)) provided even more excitement for those long the stock with a perfect follow through session of 5.91% from yesterday’s incredible 14.32% rise with a sturdy gap up on open, which means the open price was significantly higher than yesterday’s closing price. Sirius Resources ((SIR)) has managed to hold on to short term support levels above $2.70 with a bullish engulfing pattern that saw it gap lower on open and have today’s candle completely engulf the previous days, rising 5.62%.<\/p>\n

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

TPG TELECOM +5.91%
\nSIRIUS RESOURCES +5.62%
\nIINET ((IIN)) +5.56%
\nREGIS RESOURCES ((RRL)) +4.59%
\nCUDECO ((CDU)) +3.77%<\/p>\n

Paladin Energy ((PDN)), one of the many uranium mining stocks that have lost direction recently, fell a disappointing 6.42%, confirming a break to the lowest price since 2004, leaving investors left shrugging their shoulders wondering what needs to happen to turn this stock around. Northern Star Resources ((NST)) had a fairly standard day, dropping 5.39% with the close today sitting on key support levels, which need to hold if the recent medium term uptrend is to continue.<\/p>\n

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

PALADIN ENERGY -6.42%
\nNORTHERN STAR RESOURCES -5.39%
\nDECMIL GROUP ((DCG)) -5.34%
\nEVOLUTION MINING ((EVN)) -5.33%
\nTEN NETWORK HOLDINGS ((TEN)) -4.76%<\/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\/62509"}],"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=62509"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62509\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}