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ASX Market Update 2022-02-11

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SP/ASX 200 fell -1% (-71.7 pts) after a 3-day winning streak, closed at 7217 points, rose 1.4% (+97 pts) for the week, rose 2 weeks in a row.

Among the 150 largest-cap stocks, 18 (12%) closed higher. Only 29% of all ASX stocks ended higher.

In terms of sectors, 1 sector closed up, 11 sectors closed down, ranging from -5% to 0.2%. 3 sectors outperformed the market, the market internal was more negative. The market was down -1.2%; Basic Materials was up 0.2%, but already the best performer; Technology was down -5%, the worst performer.

● IDP EDUCATION (IEL) largely retreated -8.1% (-$2.5), closed at $28.53, the worst % loss in more than 22 months, fell -3.2% (-$0.93) for the week, crossed below MA20 and MA200 ($30.28, $30.56). The worst performer today but with average volume.

● NEXGEN ENERGY (CANADA) (NXG) largely retreated -2.9% (-$0.2) after a 3-day winning streak, closed at $6.7, rose 18% (+$1.02) for the week, rose 2 weeks in a row. The largest increase in volume today.

● UNIBAIL-RODAMCO-WESTFIELD (URW) jumped 6.5% (+$0.34), closed at $5.6, rose 3 days in a row, the best % gain in 8 months, also hit a YTD high, rose 5.1% (+$0.27) for the week, rose 3 weeks in a row, crossed above MA200 ($5.41). The best performer today with a huge increase in volume.

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