37 ASX stocks defying choppy market conditions and rallying to 52-week highs
Based on data from the Market Index, 37 companies hit 52-week highs in the fortnight to May 26.
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Mentioned
KEY POINTS
- Lithium, construction, travel and gambling stocks are defying choppy market conditions
- 37 stocks above $500m market cap hit 52-week highs in the past two weeks
52 weeks is a special timeframe in the worlds of technical analysis and momentum investing. Companies that hit such a high, it is suggested, are more likely to trade higher into the future.
For investors who follow a 52-week high strategy, the aim is not to buy low, sell high. Rather, it’s to buy high and sell higher.
Based on data from the Market Index, which you can find here, 37 companies (above $500m market cap) hit 52-week highs in the fortnight to May 26.
Stocks making 52-week highs
Ticker | Company Name | Close Price | Sector | Market Cap | 52w High |
|---|---|---|---|---|---|
ALL | Aristocrat Leisure | $38.39 | Consumer Cyclicals | $25.2bn | $39.74 |
WTC | Wisetech Global | $74.9 | Technology | $24.2bn | $75.01 |
QBE | QBE Insurance Group | $14.71 | Financials | $21.9bn | $15.64 |
JHX | James Hardie | $37.85 | Basic Materials | $16.6bn | $38.39 |
XRO | Xero | $110.67 | Technology | $16.4bn | $111.94 |
MEZ | Meridian Energy | $4.95 | Utilities | $13.2bn | $5.24 |
IAG | Insurance Australia Group | $5.2 | Financials | $12.8bn | $5.25 |
SOL | Washington H Soul Pattinson | $33.05 | Energy | $12.0bn | $33.94 |
SGP | Stockland | $4.34 | Real Estate | $10.47bn | $4.59 |
WOR | Worley | $16.02 | Energy | $8.6bn | $16.78 |
MCY | Mercury NZ | $5.82 | Utilities | $8.3bn | $6.22 |
IFT | Infratil | $9.295 | Utilities | $6.6bn | $9.47 |
NXT | Nextdc | $12.61 | Technology | $6.46bn | $12.675 |
AGL | AGL Energy | $9.15 | Utilities | $6.0bn | $9.24 |
LTR | Liontown Resources | $2.7 | Basic Materials | $6.0bn | $3.02 |
TNE | Technology One | $16.76 | Technology | $5.16bn | $16.81 |
VEA | Viva Energy Group | $3.22 | Energy | $5.0bn | $3.28 |
FLT | Flight Centre Travel | $20.84 | Consumer Cyclicals | $4.5bn | $22.1 |
NHF | NIB Holdings | $8.22 | Financials | $3.96bn | $8.33 |
TLX | Telix Pharmaceuticals | $11.83 | Healthcare | $3.6bn | $12.05 |
WEB | Webjet | $7.6 | Consumer Cyclicals | $2.9bn | $7.75 |
MGF | Magellan Global Fund | $1.585 | Financials | $2.78bn | $1.61 |
TAH | Tabcorp | $1.125 | Consumer Cyclicals | $2.55bn | $1.155 |
CSR | CSR | $5.08 | Basic Materials | $2.5bn | $5.55 |
PMT | Patriot Battery Metals | $1.865 | Unassigned or n/a | $2.4bn | $2.02 |
GOR | Gold Road Resources | $1.75 | Basic Materials | $2.0bn | $1.985 |
IVC | Invocare | $12.41 | Consumer non-Cyclicals | $1.8bn | $12.55 |
NEU | Neuren Pharmaceuticals | $13.66 | Healthcare | $1.7bn | $15.15 |
MFF | MFF Capital Investments | $2.71 | Financials | $1.6bn | $2.73 |
EMR | Emerald Resources | $1.98 | Basic Materials | $1.1bn | $2.02 |
HLI | Helia Group | $3.29 | Financials | $1.1bn | $3.5 |
MAD | Mader Group | $5.02 | Industrials | $986m | $5.15 |
A4N | Alpha HPA | $1.04 | Basic Materials | $853.5m | $1.175 |
LLL | LEO Lithium | $0.725 | Basic Materials | $784.3m | $0.815 |
WGX | Westgold Resources | $1.55 | Basic Materials | $748.3m | $1.74 |
CTT | Cettire | $1.88 | Consumer Cyclicals | $747.2m | $2.36 |
PPC | Peet Limited | $1.16 | Real Estate | $560.9m | $1.27 |
Interesting Observations
Materials buoyed by lithium and gold names
Ticker | Company Name | Close Price | Sector | Market Cap | 52w High |
|---|---|---|---|---|---|
JHX | James Hardie | $37.85 | Basic Materials | $16.6bn | $38.39 |
LLL | LEO Lithium | $0.725 | Basic Materials | $784m | $0.815 |
EMR | Emerald Resources | $1.98 | Basic Materials | $1.1bn | $2.02 |
LTR | Liontown Resources | $2.7 | Basic Materials | $6.0bn | $3.02 |
A4N | Alpha HPA | $1.04 | Basic Materials | $853m | $1.175 |
WGX | Westgold Resources | $1.55 | Basic Materials | $748m | $1.74 |
CSR | CSR | $5.08 | Basic Materials | $2.5bn | $5.55 |
GOR | Gold Road Resources | $1.75 | Basic Materials | $2.0bn | $1.985 |
The materials sector has weighed down the ASX over the past year, with the S&P/ASX 200 Materials (XMJ) index down -2.23%. The index has bounced back since its July lows, however, and now sits in the green (just) at 0.22%.
That recovery’s been helped along by the eight companies in this list.
Digging down further, we can see that gold and lithium names continue to lead the way.
Liontown (ASX: LTR) continues to be the standout performer this year, returning 109.85% year to date, thanks in large part to takeover attempts from US giant Albemarle.
Leo Lithium (ASX: LLL) has seen its share price more than double since March, and this week secured a $106.1 million investment from China’s largest lithium producer, Ganfeng.
Consumer cyclicals braving an impending consumer slowdown
Ticker | Company Name | Close Price | Sector | Market Cap | 52w High |
|---|---|---|---|---|---|
WEB | Webjet | $7.6 | Consumer Cyclicals | $2.9bn | $7.75 |
TAH | Tabcorp | $1.125 | Consumer Cyclicals | $2.55bn | $1.155 |
CTT | Cettire | $1.88 | Consumer Cyclicals | $747m | $2.36 |
ALL | Aristocrat Leisure | $38.39 | Consumer Cyclicals | $25.2bn | $39.74 |
FLT | Flight Centre Travel | $20.84 | Consumer Cyclicals | $4.5bn | $22.1 |
When rates rise and economic growth slows, consumer spending is one of the first things to suffer. According to the latest Deloitte Business Outlook report, a “consumer recession” is on the way.
"That downgrade is centred on our households, and a ‘consumer recession’ is now forecast in 2023, with household spending expected to finish the year below where it started," said Deloitte Access Economics partner and report lead author, Stephen Smith.
The impending wave hasn’t yet hit the shores of these five companies however.
Online retailer Cettire (ASX: CTT) has returned almost 50% this year, with Flight Centre (ASX: FLT) not far behind at 44%.
Aristocrat Leisure (ASX: ALL) and Webjet (ASX: WEB), meanwhile, are up 24% and almost 20% this calendar year respectively.
