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Evening Wrap: ASX 200's weekend woes far less painful considering melt-up in lithium, critical metals stocks
Fri 17 May 24, 5:36pm (AEST)
Data Insights
ASX 200 stocks hitting fresh 52-week highs and lows – Week 19
Mon 06 May 24, 4:19pm (AEST)
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Stocks in article
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.
This is a particularly interesting week to check up on the ASX’s biggest winners and sinners given the modest recovery experienced at index level. Which stocks took that positive lead and ran with it, and which are so clearly unwanted by investors they were terrible enough to trade at their yearly, or even all-time lows?
Why do 52-Week Highs and Lows Matter?
Here are some of the key points from 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.
Winners are grinners
Let’s start with the Winners’ Table. A ‘Y’ in the ‘ATH’ column denotes an all-time high as well as a 52 week high.
Company | Last Price | 1-wk Chg% | 1-yr Chg% | ATH Y/N? |
Jupiter Mines (JMS) | $0.280 | -0.1% | +17.0% |
|
Life360 (360) | $14.80 | +0.1% | +195.0% | Y |
AIC Mines (A1M) | $0.480 | 0% | +22.0% |
|
Global X Copper Miners ETF (WIR) | $14.07 | 0.0% | +19.0% | Y |
Wesfarmers (WES) | $68.31 | +0.1% | +33.0% | Y |
Adbri (ABC) | $3.17 | +0.0% | +93.0% |
|
Adriatic Metals (ADT) | $4.51 | +0.0% | +28.0% | Y |
WA1 Resources (WA1) | $17.92 | 0% | +898.0% | Y |
Vinyl Group (VNL) | $0.160 | +0.2% | +210.0% |
|
Volpara Health Technologies (VHT) | $1.140 | 0% | +49.0% |
|
Vanguard FTSE Emerging Markets Shares ETF (VGE) | $72.35 | +0.0% | +10.0% |
|
Veem (VEE) | $1.830 | +0.1% | +245.0% | Y |
Vanguard FTSE Asia EX Japan Shares Index ETF (VAE) | $72.94 | +0.0% | +8.0% |
|
Unibail-Rodamco-Westfield (URW) | $6.43 | +0.0% | +60.0% |
|
Ardea Resources (ARL) | $0.690 | -0.2% | +72.0% |
|
BetaShares Asia Technology Tigers ETF (ASI) | $8.66 | +0.0% | +26.0% |
|
Thorney Opportunities (TOP) | $0.650 | +0.0% | +18.0% |
|
Telix Pharmaceuticals (TLX) | $15.24 | +0.0% | +41.0% | Y |
Alumina (AWC) | $1.550 | +0.0% | +3.0% |
|
Tietto Minerals (TIE) | $0.680 | 0% | +15.0% |
|
Turaco Gold (TCG) | $0.200 | +0.2% | +208.0% |
|
Southern Cross Gold (SXG) | $2.27 | 0.0% | +234.0% | Y |
Suncorp Group (SUN) | $16.25 | +0.0% | +30.0% |
|
SRG Global (SRG) | $0.820 | 0.0% | +11.0% |
|
Bega Cheese (BGA) | $4.47 | +0.1% | +16.0% |
|
Bannerman Energy (BMN) | $4.31 | +0.2% | +225.0% |
|
Botanix Pharmaceuticals (BOT) | $0.250 | +0.2% | +187.0% |
|
Brazilian Rare Earths (BRE) | $3.21 | +0.1% | n/a | Y |
Supply Network (SNL) | $19.99 | +0.0% | +54.0% | Y |
Silex Systems (SLX) | $5.82 | +0.3% | +77.0% |
|
Sandfire Resources (SFR) | $9.40 | +0.0% | +49.0% | Y |
RPMGlobal Holdings (RUL) | $2.42 | +0.0% | +74.0% | Y |
Red 5 (RED) | $0.430 | 0.0% | +174.0% |
|
Redox (RDX) | $3.16 | +0.1% | n/a | Y |
Rincon Resources (RCR) | $0.140 | +1.1% | +61.0% |
|
Qube Holdings (QUB) | $3.51 | +0.1% | +13.0% | Y |
Queensland Pacific Metals (QPO) | $26.02 | 0% | +1.0% |
|
Qantm Intellectual Property (QIP) | $1.680 | +0.1% | +87.0% |
|
Pacific Smiles Group (PSQ) | $1.890 | +0.2% | +64.0% |
|
Calima Energy (CE1) | $0.130 | +0.1% | +28.0% |
|
Pro Medicus (PME) | $113.52 | +0.0% | +87.0% | Y |
Platinum Capital (PMC) | $1.380 | 0.0% | +3.0% |
|
Perpetual Credit Income Trust (PCI) | $1.140 | +0.0% | +16.0% |
|
Pointsbet Holdings (PBH) | $0.480 | +0.1% | +24.0% |
|
Platinum Asia Fund ETF (PAX) | $4.50 | +0.0% | +6.0% |
|
Platinum Asia Investments (PAI) | $0.920 | +0.0% | +3.0% |
|
CGN Resources (CGR) | $0.410 | +0.4% | n/a | Y |
CSR (CSR) | $8.89 | 0% | +65.0% | Y |
Clarity Pharmaceuticals (CU6) | $3.65 | +0.4% | +361.0% | Y |
Newmark Property REIT (NPR) | $1.380 | 0.0% | +2.0% |
|
Elixir Energy (EXR) | $0.120 | -0.2% | -17.0% |
|
Navigator Global Investments (NGI) | $1.840 | +0.0% | +86.0% |
|
Newmont Corporation (NEM) | $62.02 | -0.1% | n/a | Y |
BetaShares FTSE 100 ETF (F10) | $11.91 | 0% | +7.0% | Y |
Nick Scali (NCK) | $14.55 | -0.1% | +51.0% |
|
Firefly Metals (FFM) | $0.790 | 0.0% | +25.0% |
|
Namoi Cotton (NAM) | $0.720 | +0.2% | +57.0% | Y |
Mayne Pharma Group (MYX) | $7.37 | +0.1% | +78.0% |
|
Metrics Master Income Trust (MXT) | $2.08 | +0.0% | +7.0% |
|
Vaneck Australian Floating Rate ETF (FLO) | $24.89 | 0% | 0% |
|
Generation Development Group (GDG) | $2.23 | +0.0% | +76.0% | Y |
Metro Mining (MMI) | $0.040 | 0% | +153.0% |
|
Mitre Mining Corporation (MMC) | $0.570 | +0.1% | +111.0% | Y |
BetaShares Active Australian Hybrids Fund ETF (HBR) | $10.13 | 0% | +1.0% |
|
McGrath (MEA) | $0.610 | +0.0% | +72.0% |
|
iShares Asia 50 ETF (IAA) | $96.30 | +0.0% | +11.0% |
|
Macmahon Holdings (MAH) | $0.250 | 0% | +85.0% |
|
Macro Metals (M4M) | $0.020 | +0.1% | +171.0% |
|
Lycaon Resources (LYN) | $0.410 | +0.6% | +95.0% |
|
Kingsgate Consolidated (KCN) | $1.550 | 0.0% | +14.0% |
|
Lithium Energy (LEN) | $20.16 | 0% | n/a | Y |
XRF Scientific (XRF) | $1.360 | 0.0% | +9.0% | Y |
Lotus Resources (LOT) | $0.460 | +0.2% | +156.0% |
|
iShares MSCI Emerging Markets ETF (IEM) | $63.50 | +0.0% | +9.0% |
|
Winners’ Table: Everything is sweet at the top!
As a trend following technical analyst, this list is just heaven for me! These are the stocks most sought after by the demand-side, and at the same time, most tightly held by the supply-side.
I have little interest in why each side feels the way they do – I assume both sides have good reasons for their actions. Regardless, who am I to argue with the market!?
There are so many wonderful charts here, but I’m going to give a special mention to Life360 (ASX: 360), Bannerman Resources (ASX: BMN), Macro Metals (ASX: M4M), Mayne Pharma Group (ASX: MYX), RPMGlobal Holdings (ASX: RUL), and Sandfire Resources (ASX: SFR).
Mayne Pharma’s chart shows strong trends, price action, and candles
Sinners are, um, cooked like chicken dinners!?
Now for the Sinners’ Table. Note here, ‘Y’ in the ‘ATL’ column denotes an all-time low as well as a 52 week low .
Company | Last Price | 1-wk Chg% | 1-yr Chg% | ATL Y/N? |
Lindsay Australia (LAU) | $0.940 | 0.0% | -30.0% |
|
Jervois Global (JRV) | $0.010 | -0.3% | -85.0% | Y |
Ionic Rare Earths (IXR) | $0.010 | -0.1% | -52.0% |
|
Invictus Energy (IVZ) | $0.070 | -0.1% | -42.0% |
|
Iris Metals (IR1) | $0.310 | -0.1% | -83.0% |
|
IDP Education (IEL) | $16.40 | +0.0% | -40.0% |
|
Melbana Energy (MAY) | $0.050 | -0.1% | -33.0% |
|
Healius (HLS) | $1.150 | 0.0% | -58.0% | Y |
Hawsons Iron (HIO) | $0.030 | -0.2% | -39.0% |
|
Hastings Technology Metals (HAS) | $0.310 | -0.1% | -84.0% | Y |
Genesis Energy (GNE) | $2.08 | 0.0% | -18.0% |
|
Galan Lithium (GLN) | $0.280 | -0.1% | -75.0% |
|
Global Lithium Resources (GL1) | $0.380 | -0.1% | -74.0% |
|
BetaShares Australian. Cash Plus Fund ETF (MMK) | $50.03 | 0% | n/a | Y |
Minbos Resources (MNB) | $0.060 | -0.1% | -57.0% |
|
Nine Entertainment Co. Holdings (NEC) | $1.470 | 0.0% | -28.0% |
|
Neometals (NMT) | $0.100 | 0% | -82.0% |
|
Dubber Corporation (DUB) | $0.050 | -0.1% | -64.0% |
|
Calix (CXL) | $1.360 | -0.1% | -72.0% |
|
Omni Bridgeway (OBL) | $1.150 | -0.1% | -50.0% |
|
Corporate Travel Management (CTD) | $15.04 | 0% | -27.0% |
|
Cobalt Blue Holdings (COB) | $0.090 | -0.1% | -73.0% |
|
Camplify Holdings (CHL) | $1.600 | -0.1% | -23.0% |
|
Cogstate (CGU) | $1.710 | 0% | n/a | Y |
Osteopore (OVT) | $0.030 | -0.3% | -80.0% |
|
Paradigm Biopharmaceuticals (PAR) | $0.250 | -0.1% | -76.0% |
|
Peoplein (PPE) | $0.940 | 0.0% | -70.0% | Y |
PPK Group (PPK) | $0.530 | +0.2% | -54.0% |
|
The Star Entertainment Group (SGR) | $0.440 | +0.1% | -62.0% | Y |
Somnomed (SOM) | $0.210 | 0% | -82.0% |
|
Synertec Corporation (SOP) | $0.080 | -0.2% | -68.0% |
|
Bapcor (BAP) | $4.56 | -0.2% | -30.0% |
|
Telstra Group (TLS) | $3.58 | 0.0% | -16.0% |
|
Australian Vanadium (AVL) | $0.010 | -0.1% | -62.0% |
|
Avita Medical Inc (AVH) | $2.67 | +0.0% | -43.0% |
|
The Reject Shop (TRS) | $4.24 | 0% | -11.0% |
|
Eagers Automotive (APE) | $11.92 | 0.0% | -16.0% |
|
Air New Zealand (AIZ) | $0.490 | 0.0% | -25.0% |
|
Adherium (ADR) | $0.020 | -0.2% | -69.0% | Y |
Acorn Capital Investment Fund (ACQ) | $0.820 | -0.1% | -30.0% |
|
Woodside Energy Group (WDS) | $27.28 | 0.0% | -18.0% |
|
Auswide Bank (ABA) | $4.26 | 0.0% | -19.0% |
|
Woolworths Group (WOW) | $30.59 | 0.0% | -21.0% |
|
Lifestyle Communities (LIC) | $12.19 | +0.1% | -26.0% |
|
Sinners’ Table: Is it a case of unfair treatment, or are these stocks getting exactly what they deserve?
No special mentions here – there are some horrific trends. I do note some massive names, though: Corporate Travel Management (ASX: CTD), Nine Entertainment (ASX: NEC), Tesltra (ASX: TLS), The Reject Shop (ASX: TRS), Woodside Energy (ASX: WDS), and Woolworths Group (ASX: WOW).
Why are these stocks so shunned by both the demand and supply-sides? I don’t know, you’ll have to ask every single person who owns cash or shares in the above mentioned companies (i.e., the market).
Given this is practically impossible, then perhaps it’s best to just assume the market knows something we don’t!
The trends suggest something isn’t quite right at Woodside Energy
Carl has over 30-years investing experience and has helped investors navigate several bull and bear markets over this time. He is a well respected markets commentator who specialises in how the global macro impacts Australian and US equities. Carl has a passion for technical analysis and has taught his unique brand of price-action trend following to thousands of Aussie investors.
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