. Australia stocks higher at close of trade; S&P/ASX 200 up 0.37%

Australia stocks higher at close of trade; S&P/ASX 200 up 0.37%

25 May 2022

S&P 200 is trading up 0.37% at 7155.20

Australia stocks were higher after the close on Wednesday, as gains in the Gold, Consumer Staples and Financials sectors led shares higher.

At the close in Sydney, the S&P/ASX 200 gained 0.37%.

The best performers of the session on the S&P/ASX 200 were Costa Group Holdings Ltd (ASX:CGC), which rose 8.59% or 0.25 points to trade at 3.16 at the close. Meanwhile, Nufarm Ltd (ASX:NUF) added 5.61% or 0.28 points to end at 5.27 and Perseus Mining Ltd (ASX:PRU) was up 4.53% or 0.09 points to 1.96 in late trade.

The worst performers of the session were Pro Medicus Ltd (ASX:PME), which fell 5.83% or 2.45 points to trade at 39.60 at the close. Elders Ltd (ASX:ELD) declined 5.80% or 0.85 points to end at 13.81 and Pointsbet Holdings Ltd (ASX:PBH) was down 5.56% or 0.14 points to 2.38.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 769 to 592 and 403 ended unchanged.

Shares in Pro Medicus Ltd (ASX:PME) fell to 52-week lows; losing 5.83% or 2.45 to 39.60. Shares in Pointsbet Holdings Ltd (ASX:PBH) fell to 52-week lows; losing 5.56% or 0.14 to 2.38.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 2.62% to 16.22.

On technical fronts S&P 200 RSI stood at 56.38 and currently it is trading below all MA. So, SELL position can be taken with following target and stoploss:

TRADE SIGNAL – : S&P 200 – SELL: 7116.00, TARGET: 7081.00, STOP LOSS: 7162.00