{"id":63061,"date":"2014-01-24T17:49:16","date_gmt":"2014-01-24T06:49:16","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2014\/01\/24\/australian-stocks-what-happened-today-241\/"},"modified":"2014-01-24T17:49:16","modified_gmt":"2014-01-24T06:49:16","slug":"australian-stocks-what-happened-today-241","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2014\/01\/24\/australian-stocks-what-happened-today-241\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"
By Ashley Jessen<\/div>\n
 <\/div>\n
ASX Top Gainers & Losers plus Market Snapshot – 24 January 2014<\/strong><\/div>\n
\nChinese GDP affecting global markets, Aussie Dollar hitting 3.5 year lows and the Reject Shop shares plunge a massive 31.42%.
\nWhat are traders talking about today?<\/div>\n
\n•    S&P\/ASX200 lost 22.1 points or -0.42% on volume of $3.4 billion, closing at 5240.9.
\n•    The Reject Shop shares plunge 31.42% or $155 million in market cap following disappointing Christmas trading results.
\n•    Aussie Dollar hits 3.5 year low, hitting an intraday low of 0.8688.
\n•    Gold ramps up and breaks through resistance with largest gain in 3 months to fresh 2 month highs.
\n•    Argentina’s currency had its biggest one day fall since their 2002 financial crisis.
\n•    Nikkei had its biggest drop in 7 months on Thursday.<\/div>\n
\nEconomic news<\/strong><\/div>\n
\n•    No economic news on the Australian front
\n•    Internationally we have US Flash Manufacturing PMI (Friday) and US Crude Oil Inventories (Friday).<\/div>\n
\nLooking over the charts<\/strong><\/div>\n
\n•    Markets continued to weaken off poor US and European markets but our ever resilient Aussie 200 Index managed to fight back into positive territory within 90 minutes of trading, only to give back all those gains and then some by the close.
\n•    The doji star pattern comes at an interesting point with our market potentially forming a higher low.
\n•    In addition to the equal or higher low now forming, we could see some potential bullish divergence on the stochastic indicator, so we’ll need to watch that closely.
\n•    Support levels at 5220-5235 are going to be very important. If our market cannot hold above these levels then our market is potentially in a downtrend.<\/div>\n
\n\"\"<\/div>\n
\nASX top 200 stock analysis<\/strong><\/div>\n
\n25% of stocks are showing oversold levels, 14% are showing overbought levels and 46% of stocks are currently above their long term moving average as of close of trading today. View the image below to better understand overbought and oversold levels.<\/div>\n

\"\"<\/p>\n

\nS&P\/ASX 200 Gainers and Losers<\/strong><\/div>\n
\nTop 5 gainers:
\n•    MGX    MOUNT GIBSON IRON +8.33%
\n•    EVN    EVOLUTION MINING +4.20%
\n•    NCM    NEWCREST MINING +3.83%
\n•    RSG    RESOLUTE MINING +3.60%
\n•    SXL    SOUTHERN CROSS MEDIA GROUP +3.42%
\nTop 5 Losers:
\n•    TRS    THE REJECT SHOP -31.95%
\n•    BDR    BEADELL RESOURCES -11.25%
\n•    NST    NORTHERN STAR RESOURCES -10.10%
\n•    JBH    JB HI-FI -5.67%
\n•    RMD    RESMED INC -4.94%
\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\/63061"}],"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=63061"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/63061\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=63061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=63061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=63061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}