{"id":62594,"date":"2013-10-03T17:41:03","date_gmt":"2013-10-03T07:41:03","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/10\/03\/australian-stocks-what-happened-today-184\/"},"modified":"2013-10-03T17:41:03","modified_gmt":"2013-10-03T07:41:03","slug":"australian-stocks-what-happened-today-184","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/10\/03\/australian-stocks-what-happened-today-184\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"
By Ashley Jessen<\/div>\n
\n

03 October 2013 ASX Market Summary – Invast Financial Services<\/strong><\/p>\n

Softer US markets were counteracted by stronger closes in both the precious metal and Crude Oil markets, opening the door to a steady upward trending market as traders continue to digest information around the US Government shutdown as it becomes available. On the closing bell the S&P\/ASX 200 pushed ahead 19.3 points or 0.37% on weak volume of just over $3 billion.<\/p>\n

Not much to report on the economic front with new car sales for September down 2.1% year on year and 0.8% down from August. China’s non-manufacturing PMI firmed to 55.4.<\/p>\n

Sectors were largely flat across the board with no stand-out winners or losers with Materials climbing 0.69% and the Telecommunications Sector rising 0.62%. Only two sectors failed to make ground compared to yesterday with Industrials and Energy falling 0.71% and 0.44% respectively.<\/p>\n

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

Large distributive selling, as was noted by today’s long wick on the candle, highlights the indecision that still exists among market participants as they try and work out whether they are going to push this market higher or provide some further opportunity by allowing the market to fall below current support at the 5200 mark. A more powerful signal is now emerging with the stochastic indicator showing oversold with the market in an uptrend and hitting an equal or higher low. Traditional technical traders would consider this an ideal point to balance risk and reward to the upside.<\/p>\n

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

31% of stocks are showing oversold levels, 12% 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

Ten Network Holdings ((TEN)) has continued to bounce around in a narrow trading range between $0.28 and $0.30 and today managed a 5.36% rise but unfortunately the share price is still stuck in a consolidation pattern. Medusa Mining ((MML)) gapped up 5.16% in early trading on steady volume as it bounces around support levels and continues this consolidation period on the charts.<\/p>\n

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

TEN NETWORK HOLDINGS +5.36%
\nMEDUSA MINING +5.16%
\nARRIUM ((ARI)) +4.29%
\nNORTHERN STAR RESOURCES ((NST)) +4.22%
\nREGIS RESOURCES ((RRL)) +3.85%<\/p>\n

Leighton Holdings ((LEI)) has been embroiled in the possibility of corruption and cover-ups and being accused of using multimillion-dollar kickbacks to secure key projects through Asia and investors didn’t take to kindly to this, driving the share price down a massive 10.42%. Paladin Energy ((PDN)) had an inside day off the back of yesterday’s solid gain but was unable to hold on to them as it pulled back 5.66% and sits precariously on $0.50.<\/p>\n

Top 5 Losers:<\/p>\n

LEIGHTON HOLDINGS -10.42%
\nPALADIN ENERGY -5.66%
\nBOART LONGYEAR ((BLY)) -3.30%
\nMONADELPHOUS GROUP ((MND)) -3.10%
\nBRADKEN ((BKN)) -3.07%<\/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\/62594"}],"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=62594"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62594\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}