{"id":63125,"date":"2014-02-10T17:57:25","date_gmt":"2014-02-10T06:57:25","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2014\/02\/10\/australian-stocks-what-happened-today-251\/"},"modified":"2014-02-10T17:57:25","modified_gmt":"2014-02-10T06:57:25","slug":"australian-stocks-what-happened-today-251","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2014\/02\/10\/australian-stocks-what-happened-today-251\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"
By Ashley Jessen<\/div>\n
 <\/div>\n
ASX Top Gainers & Losers plus Market Snapshot – 10 February 2014<\/strong><\/p>\n

US Unemployment has a massive shocker yet global markets continue to push forward whilst precious metals remain steady with the Emerging Markets crisis continue to raise its head among analysts.<\/p>\n

What are traders talking about today?<\/p>\n

•    S&P\/ASX200 gained 55.6 points or +1.08% on volume of $3.8 billion, closing at 5222.1.
\n•    US Unemployment figures shocked to the downside but was largely brushed off by investors who pushed the US indices higher with Gold also pushing forward.
\n•    Copper has enjoyed a solid three day rally but is sitting right on resistance at 3.30 and will be tough to break through.
\n•    Gold is enjoying a slow grind higher and has the $1,280 per ounce figure to break through before any long term upside is considered a firm possibility.
\nEconomic news
\n•    US Unemployment figures came out hitting 113,000 new jobs versus the forecast 180,000, missing the expectation by one of the largest amounts in recent times.
\n•    Toyota has announced that they are going to pull out of making cars in Australia by 2017, costing thousands of jobs.
\n•    The Fed’s Yellen will be speaking later this week and everyone will be carefully listening for talks of further taper and what that will look like going forward.<\/div>\n

\nAustralian sector watch<\/strong><\/p>\n

\"\"<\/p>\n

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

•    Markets continued their strong upward swing breaking above, and more importantly, closing above the 5200 level.
\n•    Intraday our market went like clockwork, jumping up initially, following strong US markets and then after profit takers stepped in we saw the S&P\/ASX200 push higher for the remainder of the afternoon to close right on its highs. Again, this is another very positive signal.
\n•    Interestingly over the weekend we ran some analysis to note that 81% of the top 50 stocks were either hitting equal or higher lows, which is an extremely positive sign.
\n•    As we push higher, the market will start to become overbought so we’ll cautiously watch overhead resistance for any potential weakness.<\/p>\n

\"\"<\/p>\n

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

13% of stocks are showing oversold levels, 21% 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.<\/p>\n

\"\"<\/p>\n

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

Top 5 gainers:
\n•    SLR    SILVER LAKE RESOURCES +8.1301
\n•    RSG    RESOLUTE MINING +8.9286
\n•    FGE    FORGE GROUP +11.5854
\n•    EVN    EVOLUTION MINING +12.766
\n•    PRU    PERSEUS MINING +13.75
\nTop 5 Losers:
\n•    LNC    LINC ENERGY -11.9469
\n•    TEN    TEN NETWORK HOLDINGS -4.2253
\n•    LYC    LYNAS CORPORATION -3.6364
\n•    JBH    JB HI-FI -2.9968
\n•    SXY    SENEX ENERGY -2.1898<\/p>\n

 <\/p><\/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\/63125"}],"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=63125"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/63125\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=63125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=63125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=63125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}