{"id":62601,"date":"2013-10-04T17:38:48","date_gmt":"2013-10-04T07:38:48","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/10\/04\/australian-stocks-what-happened-today-185\/"},"modified":"2013-10-04T17:38:48","modified_gmt":"2013-10-04T07:38:48","slug":"australian-stocks-what-happened-today-185","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/10\/04\/australian-stocks-what-happened-today-185\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"
By Ashley Jessen<\/div>\n
\n

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

After a buoyant 13 year high on the Nasdaq earlier in the week, with speculation of Twitter launching their IPO, we’ve only seen pull backs as markets continue to digest the uncertainty around the US government shutdown. The Nasdaq weakened by 1.07% and the Dow Jones was down 136.6 points or 0.90%, which gave little optimism for the S&P\/ASX 200 to do anything but retreat. At the open the S&P\/ASX 200 fell a quick fire 37 points before consolidation for the rest of the session to post a 26.9 point drop or 0.51% on below average volume yet again.<\/p>\n

Every sector failed to move out of the red zone today with Consumer Discretionary stocks the worst hit, falling 0.95% with Materials not too far behind, closing the day down 0.82%. Health Care was the closest to break even managing a slight 0.09% loss on the day with Energy unable to do better than at 0.31% loss.<\/p>\n

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

With the XJO teetering right on support and the uncertainty around the US government shut down plus the weekend upon us, we’ve noticed a day of little to no conviction as traders try to position themselves for what could be a higher than normal volatility week. With the low today just breaking the 5200 market, heading down to 5197.70, we can take that as a false break, as the market fought back to close at 5208 on a fairly sideways moving market intraday. After the early sell off our market traded in a narrow 20 point range which has set the scene for the week ahead.<\/p>\n

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

33% of stocks are showing oversold levels, 14% 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

Mount Gibson Iron ((MGX)) bounced back valiantly from the recent barrage of selling to lock in a 4.96% rise on slightly higher than average volume leaving the closing price right on $0.74. Bradken ((BKN)) has been in a consolidation range and today’s 3.17% rise keeps it well within those support and resistance lines and will have to clear the $6.00 mark before it is considered in a medium term uptrend.<\/p>\n

Top 5 gainers:<\/p>\n

MOUNT GIBSON IRON +4.96%
\nBRADKEN +3.17%
\nSKILLED GROUP ((SKE)) +2.85%
\nGOODMAN FIELDER ((GFF)) +2.76%
\nILUKA RESOURCES ((ILU)) +2.68%<\/p>\n

NRW Holdings ((NWH)) gapped down below $1.40 on open and the momentum carried forward throughout the day to see the price fall a disappointing 7.82% on steady volume. Paladin Energy ((PDN)) has not been able to impress anyone recently and today’s low of $0.465, after dropping 6% for the day, puts it at the lowest price since 2004.<\/p>\n

Top 5 Losers:<\/p>\n

NRW HOLDINGS -7.82%
\nPALADIN ENERGY -6.00%
\nLEIGHTON HOLDINGS ((LEI)) -4.56%
\nENERGY WORLD CORPORATION ((EWC)) -4.12%
\nPANAUST ((PNA)) -3.77%<\/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\/62601"}],"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=62601"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62601\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}