{"id":62646,"date":"2013-10-14T17:40:02","date_gmt":"2013-10-14T06:40:02","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/10\/14\/australian-stocks-what-happened-today-190\/"},"modified":"2013-10-14T17:40:02","modified_gmt":"2013-10-14T06:40:02","slug":"australian-stocks-what-happened-today-190","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/10\/14\/australian-stocks-what-happened-today-190\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"
By Ashley Jessen<\/div>\n
\n

ASX Top Gainers & Losers plus Market Snapshot – 14 October 2013<\/strong><\/p>\n

Volatile yet buoyant US markets were not able to provide a similar direction for the ASX market as the US moves every closer to the October 17 soft deadline for the US debt ceiling and to add fuel to the downside move, commodities were especially weak on the Friday session. In the end the S&P\/ASX 200 fell 23 points or 0.44% on lower than average volume. <\/p>\n

Red across all the sectors was not a very welcoming way to see in the start of our week with Information Technology stocks receiving most of the negative bias, falling 1.36%. Industrials weren’t too far behind falling a worse than expected 0.93%. Real Estate Investment Trusts and the Financials sector were the best of the worst, managing to only fall 0.12 and 0.21% respectively.<\/p>\n

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

Our market was unable to hold on to Friday’s sharp push higher and resistance at the 5235 mark proved a little too difficult to overcome and will be one keenly watched by short term traders going forward. Intraday market action saw the index pull back 30 points on the open and continue to track lower by another 10-13 points before a consolidation was met by buying support later in the afternoon session. Most importantly the closing price today remained about the 5200 level which could form a solid support level going forward.<\/p>\n

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

22% of stocks are showing oversold levels, 15% are showing overbought levels and 57% of stocks are currently above their long term moving average as of close of trading today. Markets are currently position in no-man’s land and will take some positive price action before some solid new trends emerge and the confidence over the US debt ceiling becomes clear.<\/p>\n

S&P\/ASX 200 Gainers and Losers<\/strong><\/p>\n

Sundance Resources ((SDL)) somehow managed to outperform the lacklustre performance of the entire top 200 ASX stocks by rising a mere 2.67%, such was the lack of top gainers on the market today. Energy World Corporation ((EWC)) bounced off support at $0.42 to post a 2.41% gain and a nice double bottom formation that will be one to watch closely.<\/p>\n

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

SDL  SUNDANCE RESOURCES +2.67%
\nEWC  ENERGY WORLD CORPORATION +2.41%
\n((ARI))  ARRIUM +2.31%
\n((TEN))  TEN NETWORK HOLDINGS +1.79%
\n((TSE))  TRANSFIELD SERVICES +1.58%<\/p>\n

OZ Minerals ((OZL)) had nowhere to hide today as it updated the market on the fact that it would not be able to make its full year production target, with investors punishing the stock 9.32% and right on critical support levels at $4.00. Alacer Gold ((AQG)) pulled back a bigger than average 5.71% and sits on a comfortable triple bottom at the $3.00 support level with a slight bullish divergence starting to show up on the chart.<\/p>\n

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

OZL  OZ MINERALS -9.32%
\nAQG  ALACER GOLD CORP -5.71%
\n((SBM))  ST BARBARA -5.43%
\n((RSG))  RESOLUTE MINING -5.41%
\n((PRU))  PERSEUS MINING -5.21%<\/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\/62646"}],"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=62646"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62646\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}