. Australia stocks lower at close of trade; S&P/ASX 200 down 0.80%

Australia stocks lower at close of trade; S&P/ASX 200 down 0.80%

02 Jun 2022

S&P/ASX 200 is trading down 0.80% at 7175.90

Australia stocks were lower after the close on Thursday, as losses in the IT, Healthcare and Telecoms Services sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 fell 0.80%.

The best performers of the session on the S&P/ASX 200 were Woodside Energy Ltd (ASX:WDS), which rose 5.17% or 1.56 points to trade at 31.75 at the close. Meanwhile, Tabcorp Holdings Ltd (ASX:TAH) added 4.97% or 0.05 points to end at 0.95 and IGO Ltd (ASX:IGO) was up 3.94% or 0.44 points to 11.60 in late trade.

The worst performers of the session were Megaport Ltd (ASX:MP1), which fell 6.04% or 0.42 points to trade at 6.53 at the close. Polynovo Ltd (ASX:PNV) declined 5.86% or 0.07 points to end at 1.13 and Carsales.Com Ltd (ASX:CAR) was down 5.61% or 1.15 points to 19.36.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 909 to 480 and 401 ended unchanged.

Shares in Megaport Ltd (ASX:MP1) fell to 52-week lows; losing 6.04% or 0.42 to 6.53.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 4.34% to 14.98.

Gold Futures for August delivery was up 0.34% or 6.30 to $1,855.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 1.93% or 2.23 to hit $113.03 a barrel, while the August Brent oil contract fell 1.81% or 2.10 to trade at $114.19 a barrel.

On technical fronts S&P/ASX 200 RSI stood at 62.67 and currently it is trading above 20 days MA & below 5 and 10 days MA. So, SELL position can be taken with following target and stoploss:

TRADE SIGNAL – : S&P/ASX 200 – SELL: 7184.00, TARGET: 7152.00, STOP LOSS: 7232.00