Australia stocks lower at close of trade; S&P/ASX 200 down 1.18%  

Australia stocks lower at close of trade; S&P/ASX 200 down 1.18%  

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S&P/ASX 200 is trading down 1.18% at 7347.00

Australia stocks were lower after the close on Monday, as losses in the IT, A-REITs and Telecoms Services sectors led shares lower.

The best performers of the session on the S&P/ASX 200 were Pointsbet Holdings Ltd (ASX:PBH), which rose 5.67% or 0.17 points to trade at 3.17 at the close. Meanwhile, Qantas Airways Ltd (ASX:QAN) added 2.86% or 0.16 points to end at 5.76 and Reliance Worldwide Corporation Ltd (ASX:RWC) was up 1.77% or 0.07 points to 4.03 in late trade.

The worst performers of the session were Pro Medicus Ltd (ASX:PME), which fell 7.81% or 3.71 points to trade at 43.77 at the close. Wisetech Global Ltd (ASX:WTC) declined 7.29% or 3.30 points to end at 41.97 and Goodman Group (ASX:GMG) was down 7.17% or 1.72 points to 22.26.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 1178 to 327 and 327 ended unchanged.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 11.95% to 15.74. AUD/USD was unchanged 0.13% to 0.71, while AUD/JPY rose 0.15% to 91.84.

On technical fronts S&P/ASX 200 RSI stood at 33.00 and currently it is trading below all MA. So, SELL position can be taken with following target and stoploss:

TRADE SIGNAL – : S&P/ASX 200 – SELL: 7312.00, TARGET: 7261.00, STOP LOSS: 7360.00

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