ASX 200 stocks hitting fresh 52-week highs and lows – Week 16
Upward trending sectors like real estate, banks, retailers and industrials have hit a wall in recent weeks.
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Welcome back to the 52-week Series – A recap of ASX 200 stocks that have tagged a fresh yearly highs and lows in the past week.
52-Week Highs and Lows by Sector
Materials: 10 Highs, 2 Lows
Financial: 2 Highs, 0 Lows
Industrials: 2 Highs, 1 Low
Energy: 1 High, 0 Low
Discretionary: 1 High, 1 Low
Technology: 1 High, 0 Low
Real Estate, Staples and Healthcare: 0 Highs, 0 Lows
Communication Services: 0 Highs, 4 Lows
Why do 52-Week Highs and Lows Matter
Here are some of the key points our first 52-Week article:
A research thesis by Thomas J. George and Chuan-Yang Hwang titled The 52-Week High and Momentum Investing concludes that stocks nearing their 52-week high tend to outperform in the future, surpassing the predictive power of past returns.
US trader Mark Minervini also notes that “when you see a growing number of names in a particular industry making new 52-week highs (especially coming off a market low), this could be an indication that a group advance is underway.”
1851 Capital Chief Investment Officer Chris Stott says the numbers are useful in helping to determine which stocks have the momentum to keep making fresh highs. The data is used to identify continuous winners and generate fresh ideas.
The Runners Take a Breather
Several upward trending sectors taken a breather in recent weeks. These sectors include:
Real Estate: Most large cap real estate stocks have rallied around 30-50% since last October. But it wasn't until March that names (HMC, SGP, SCG, CIP, CHC etc.) started to cross into 52-week high territory. The sector hit a wall earlier this month as bond yields started to tick higher on hotter-than-expected inflation data.
Banks: The Big Four Banks were hitting fresh yearly highs almost every week between January and March. Most have pulled back around 3-5% from recent highs.
Discretionary: The retail sector was all the rage during February reporting season. Stocks like Wesfarmers, JB Hi-Fi and Lovisa surged to record highs on better-than-expected first-half FY24 earnings. Momentum for the sector started to stall around late March.
Industrials: Industrials was another sector that delivered during reporting season, led by names like Reece, Reliance Worldwide, Ventia Services and Smartgroup. The sector topped around early-mid March.
Materials at 52-Week Highs
Gold stocks continued to shine as prices for the underlying commodity hit all-time highs of US$2,431 an ounce last week.
Ticker | Company | Close Price | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
Red 5 | $0.43 | Materials | 11.7% | 126.3% | |
Emerald Resources | $3.59 | Materials | 7.8% | 104.0% | |
Genesis Minerals | $1.99 | Materials | 7.0% | 80.5% | |
CSR | $8.84 | Materials | 0.1% | 70.0% | |
Bellevue Gold | $2.02 | Materials | 7.2% | 33.8% | |
West African Resources | $1.42 | Materials | 7.6% | 29.8% | |
Sandfire Resources | $9.07 | Materials | 3.8% | 28.8% | |
Bluescope Steel | $23.86 | Materials | 0.7% | 19.1% | |
Northern Star Resources | $15.30 | Materials | 2.9% | 6.3% | |
Silver Lake Resources | $1.38 | Materials | 8.2% | 3.8% |
Data shows any stock to have hit a 52-week high in the past week. Share price and performance as at Friday, 12 April 2024
ASX 200 Stocks at 52-Week Highs
Ticker | Company | Close Price | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
Lovisa Holdings | $32.93 | Discretionary | 5.3% | 27.8% | |
Paladin Energy | $15.36 | Energy | 8.2% | 132.7% | |
Hub24 | $40.83 | Financials | -1.9% | 49.4% | |
Insurance Australia Group | $6.45 | Financials | 0.8% | 28.7% | |
Computershare | $28.24 | Industrials | 7.8% | 23.6% | |
Aurizon | $3.99 | Industrials | 0.3% | 17.0% | |
Life360 Inc | $13.55 | Technology | 11.6% | 171.0% | |
Origin Energy | $9.77 | Utilities | 5.3% | 17.9% |
Data shows any stock to have hit a 52-week high in the past week. Share price and performance as at Friday, 12 April 2024
ASX 200 stocks at 52-Week Lows
The communication services sector is a clear standout. During February reporting season, TPG delivered weaker-than-expected subscriber growth, Domain missed analyst expectations amid a tougher competitive landscape and Nine's outlook was softer-than-expected amid a downturn in ad markets.
Ticker | Company | Close Price | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
Nine Entertainment | $1.60 | Communication Services | -3.9% | -23.4% | |
TPG Telecom | $4.30 | Communication Services | -3.6% | -17.9% | |
Domain | $3.02 | Communication Services | -4.7% | -14.0% | |
Spark New Zealand | $4.31 | Communication Services | -0.9% | -8.3% | |
IDP Education | $16.22 | Discretionary | -5.9% | -41.3% | |
IPH | $6.21 | Industrials | 4.9% | -20.0% | |
Orora | $2.17 | Materials | -1.8% | -32.9% | |
Coronado Global | $1.19 | Materials | 3.0% | -26.8% |
Data shows any stock to have hit a 52-week low in the past week. Share price and performance as at Friday, 12 April 2024
