Rapid Movers

ASX standouts: Friday’s movers and gainers

Fri 21 Jan 22, 11:11am (AEST)

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Key Points

  • US indices stage another late reversal, all sliding around -1%
  • The ASX is fast approaching its 200-day moving average
  • Breaching the 200-day moving average could signal a correction and beginning of a new trend

The ASX is down -1.05% today following a bearish reversal on Wall Street.

Major US indices opened between 1.3% and 2.1% higher but sold off sharply towards the close, all down around -1%.  

The market is looking increasingly bearish, especially after the US market struggled to hold onto last night's rally from an oversold price point.

Every ASX sector has opened in red today, headlined by losses in materials and technology stocks.

2022-01-21 10 30 12-Market Index - ASX Stock Quotes, Charts & Analysis

11 ASX Sectors at 10:30 am AEDT

ASX winners 

Stocks in positive territory are few and far between. Slight winners include:

ASX losers 

Yesterday’s winners became today’s losers with iron ore and lithium stocks headlining the selloff. 

Iron ore majors

Large cap lithium 

Notable announcement movers include: 

1 - Whitehaven Coal (ASX: WHC) shares opened -5% lower after flagging a lower FY22 production guidance and higher costs. Whitehaven expects ROM (run of mine) coal production to be down around 5% compared to its previous guidance. 

 2 - Fenix Resources (ASX: FEX) has plunged -23.8% after reporting -$11m in operating cash flows for the December quarter. The iron ore junior received an average $77 per dry metric tonne for its iron ore despite cash costs sitting at $94.09 per dry metric tonne.

Note: to adjust from wet to dry tonnes, an -8% reduction is applied to the wet tonnes to adjust for moisture content.

3 - Nuix (ASX: NXL) is down -15% to a fresh all-time low following a first half FY22 trading update. Nuix said its seen a continuation of revenue growth from existing customers while revenue from new customers is lower than the prior period. The business is experiencing materially higher costs, notably in the last two months of the half.

Written By

Kerry Sun

Finance Writer & Social Media

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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