{"id":62562,"date":"2013-09-27T17:37:44","date_gmt":"2013-09-27T07:37:44","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/09\/27\/australian-stocks-what-happened-today-180\/"},"modified":"2013-09-27T17:37:44","modified_gmt":"2013-09-27T07:37:44","slug":"australian-stocks-what-happened-today-180","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/09\/27\/australian-stocks-what-happened-today-180\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"
By Ashley Jessen<\/div>\n
\n

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

US markets managed to snap a 5 day losing streak but the session overnight can only be described as choppy, but that was enough of a catalyst for the local S&P\/ASX 200 to hit and close above the critical 5300 level and notch up the 7th straight week of positive gains. The S&P\/ASX 200 is well on the way to notching up a very successful quarter with today’s 12.6 point gain or 0.24% to close at 5307.1, bringing smiles to many local fund managers.<\/p>\n

Consistent and above average gains were felt across the top 3 ASX sectors, which all managed over 1% gains with Telecommunications up 1.15%, Health Care up 1.10% and the Utilities sector up 1.05%. Only two sectors were unable to find traction with the Real Estate Investment Trusts and the Financials sectors falling modestly, down 0.11% and 0.01% respectively.<\/p>\n

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

Breaking new territory is usually one of excitement and interest and often it is accompanied by a strong break or clear momentum gathering with overzealous buyers. In today’s case we saw an immediate pop to the upside, hitting intraday highs of 5314 and then a steady pull back of only 10 points before a quick 5 point rally into the close. Some minor distributive selling but overall we’ve seen a solid, steady upward climb to hit new highs and provide a number of analysts with some new talking points. Let’s hope the start to next week, after the debt ceiling talks, is a positive one and we maintain that upward momentum.<\/p>\n

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

17% of stocks are showing oversold levels, 30% are showing overbought levels and 66% 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

Senex Energy ((SXY)) led the charge on today’s lacklustre trading session with the biggest gainer posting a 3.33% rise as it bounced off recent support and begins heading to recent highs from the middle of September. Energy World Corporation ((EWC)) bounced back from yesterdays dismal session by rising a steady 3.19% with plenty of distributive selling from early intraday highs, which will keep traders cautious going into next week.<\/p>\n

Top 5 gainers:<\/p>\n

SENEX ENERGY +3.33%
\nENERGY WORLD CORPORATION +3.19%
\nWORLEYPARSONS ((WOR)) +3.04%
\nLEIGHTON HOLDINGS ((LEI)) +2.97%
\nARISTOCRAT LEISURE ((ALL)) +2.91%<\/p>\n

Perseus Mining ((PRU)) has been bouncing around on critical support levels as it fights the chance to drop dramatically lower and unfortunately today’s 3.54% drop will not be helping the cause. Newcrest Mining ((NCM)) failed to hold above the key $12.00 support level as traders drove the price down 3.45% to close at $11.47 on triple the average volume.<\/p>\n

Top 5 Losers:<\/p>\n

PERSEUS MINING -3.54%
\nNEWCREST MINING -3.45%
\nSIRIUS RESOURCES NL ((SIR)) -3.41%
\nALACER GOLD CORP ((AQG)) -2.99%
\nMOUNT GIBSON IRON ((MGX)) -2.60%<\/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\/62562"}],"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=62562"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62562\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}