SP/ASX 200 fell -0.9% (-59.3 pts) after a 4-day winning streak, closed at 6786 points, rose 1.6% (+109 pts) for the week after a 2-week losing streak, is testing MA50 (6786 pts).
Among the 150 largest-cap stocks, 65 (43%) closed higher. 37% of all ASX stocks ended higher.
In terms of sectors, 5 sectors closed up, 7 sectors closed down, ranging from -4% to 2.6%. 8 sectors outperformed the market. The market was down -1%; Utilities was up 2.6%, the best performer, reflecting a more risk-averse market; Basic Materials was down -4%, the worst performer.
● MERIDIAN ENERGY (MEZ) largely rebounded 6.3% (+$0.26), closed at $4.37, the best % gain in more than 7 months, rose 2.8% (+$0.12) for the week, rose 2 weeks in a row, crossed above MA20, MA50 and MA200 ($4.2, $4.36, $4.33). The best performer today with a slight increase in volume.
● NEW HOPE (NHC) largely retreated -9.7% (-$0.61), closed at $5.7, the worst % loss in 1 month, also a 21-day low, fell -20.5% (-$1.47) for the week after a 3-week winning streak, crossed below MA50 ($5.78). The worst performer today with a significant increase in volume.
● CHAMPION IRON (CIA) largely retreated -9.2% (-$0.48), closed at $4.76, the worst % loss in 1 month, fell -2.9% (-$0.14) for the week, fell 3 weeks in a row, crossed below MA20 and MA50 ($5.04, $5.1).
● FORTESCUE METALS GROUP (FMG) tanked -8.2% (-$1.31), closed at $14.76, fell 4 days in a row, the worst % loss in more than 4 months, also a 71-day low, fell -9.8% (-$1.6) for the week, fell 3 weeks in a row.
360miq.com/market?data=ASX#tab-3
