Australia stocks higher at close of trade; S&P/ASX 200 up 0.97%

Australia stocks

S&P/ASX 200 is trading up 0.22% at 6789.00

Australia stocks were higher after the close on Thursday, as gains in the Metals & Mining, Materials and Gold sectors led shares higher.

At the close in Sydney, the S&P/ASX 200 gained 0.97% to hit a new 1-month high.

The best performers of the session on the S&P/ASX 200 were Ltd (ASX:KGN), which rose 50.16% or 1.57 points to trade at 4.70 at the close. Meanwhile, Zip Co Ltd (ASX:ZIP) added 22.58% or 0.28 points to end at 1.52 and Pointsbet Holdings Ltd (ASX:PBH) was up 20.61% or 0.61 points to 3.57 in late trade.

The worst performers of the session were Atlas Arteria (ASX:ALX), which fell 6.14% or 0.50 points to trade at 7.64 at the close. Computershare Ltd. (ASX:CPU) declined 3.49% or 0.90 points to end at 24.91 and NIB Holdings (ASX:NHF) was down 2.79% or 0.21 points to 7.32.

Rising stocks outnumbered declining ones on the Sydney Stock Exchange by 985 to 401 and 363 ended unchanged.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 4.80% to 15.25 a new 1-month low.

Gold Futures for August delivery was up 1.08% or 18.60 to $1,737.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 1.67% or 1.62 to hit $98.88 a barrel, while the October Brent oil contract rose 1.69% or 1.72 to trade at $103.39 a barrel.

On technical fronts S&P/ASX 200 RSI stood at 65.38 and currently it is trading above all MA. So, BUY position can be taken with following target and stoploss:

TRADE SIGNAL – : S&P/ASX 200 – BUY: 6790.00, TARGET: 6800.00, STOP LOSS: 6720.00

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