Australia stocks lower at close of trade; S&P/ASX 200 down 0.63%

Australia stocks lower at close of trade; S&P/ASX 200 down 0.63%

Australia stocks

S&P/ASX 200 is trading down 0.63% at 7442.80

Australia stocks were lower after the close on Thursday, as losses in the IT, Consumer Discretionary and Energy sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 lost 0.63%.

The best performers of the session on the S&P/ASX 200 were Magellan Financial Group Ltd (ASX:MFG), which rose 11.38% or 1.76 points to trade at 17.23 at the close. Meanwhile, Graincorp Ltd (ASX:GNC) added 3.45% or 0.29 points to end at 8.69 and Viva Energy Group Ltd (ASX:VEA) was up 2.86% or 0.07 points to 2.52 in late trade.

The worst performers of the session were Wisetech Global Ltd (ASX:WTC), which fell 6.55% or 3.45 points to trade at 49.25 at the close. Pointsbet Holdings Ltd (ASX:PBH) declined 6.41% or 0.23 points to end at 3.36 and ARB Corporation Ltd (ASX:ARB) was down 5.67% or 2.35 points to 39.07.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 890 to 537 and 393 ended unchanged.

Shares in Pointsbet Holdings Ltd (ASX:PBH) fell to 52-week lows; down 6.41% or 0.23 to 3.36.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 1.93% to 12.78.

On technical fronts S&P/ASX 200 RSI stood at 61.73 and currently it is trading above 20 and 50 days MA & below 5 days MA. So, BUY position can be taken with following target and stoploss:

TRADE SIGNAL – : S&P/ASX 200 – BUY: 7476.00, TARGET: 7536.00, STOP LOSS: 7435.00

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