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ASX Market Update 2022-06-01

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SP/ASX 200 slightly rose 0.3% (+23 pts), closed at 7234 points.

Among the 150 largest-cap stocks, 68 (45%) closed higher, 56 of them rose with a lower volume. Only 30% of all ASX stocks ended higher.

In terms of sectors, 6 sectors closed up, 6 sectors closed down, ranging from -2.8% to 1.3%. 6 sectors outperformed the market. The market was down -0.1%; Communication was up 1.3%, the best performer; Technology was down -2.8%, the worst performer.

● CONTACT ENERGY (CEN) largely rebounded 5.2% (+$0.35), closed at $7.1, the best % gain in more than 2 months, crossed above MA20 ($6.98). The best performer with a significant decrease in volume.

● PILBARA MINERALS (PLS) plunged -22% (-$0.65), closed at $2.3, the worst % loss in more than 101 months, also hit a YTD low, crossed below MA20, MA50 and MA200 ($2.72, $2.9, $2.69). The worst performer with a huge increase in volume.

● LIONTOWN RESOURCES (LTR) largely retreated -19.1% (-$0.27) after a 3-day winning streak, closed at $1.145, the worst % loss in 68 months, also hit a YTD low, crossed below MA20 ($1.29).

● ALLKEM (AKE) plunged -15.4% (-$2.11), closed at $11.6, the worst % loss in more than 159 months, crossed below MA20 and MA50 ($12.39, $12.26).

● ORIGIN ENERGY (ORG) sank -13.7% (-$0.94), closed at $5.91, the worst % loss in more than 26 months, also a 50-day low, crossed below MA50 ($6.63). The largest increase in volume.

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