Data Insights

ASX 200 stocks hitting fresh 52-week highs and lows – Week 20

Mon 13 May 24, 10:41am (AEST)
ASX new 52 week highs and lows
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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.

Looking at the weekly chart of the S&P/ASX200 (XJO) below, we can see that overall, Aussie stocks should be doing pretty well. At the weekly close of 7749, the benchmark index of Australian shares is just 162 points or 2% away from its record high set on 2 April.

S&P-ASX 200 Weekly Chart 13 May 2024
S&P/ASX200 weekly chart (XJO)

This is despite the paying of a couple of very juicy dividends by two of the Big 4 banks last week (NAB and WBC, with ANZ going ex-div today). Remember – dividends lower the price of the index but are still very much a return to shareholders – so we should take them into account when considering an index’s total return performance.

NAB and WBC’s dividends shaved just over 0.2% from the XJO’s weekly total return performance. Indeed, if we add all dividends back since the 2 April all-time high, we’re actually only 1.6% from a new high on a total return basis.

S&P-ASX 200 Total Return Weekly Chart 13 May 2024
S&P/ASX200 Total Return Index (XJOA) weekly chart

The bottom line is: If your stock isn’t within a few percent from an all-time high – it is underperforming the benchmark. If your job is to try and position yourself in the best performing stocks on the Australian stock market, this analysis should serve as a guide to whether you’re meeting your mandate.

With this in mind, let’s investigate the best- and worst-performing stocks on the ASX last week via new 52-Week Highs and Lows – or as I like to call them Winners and Sinners! Fingers crossed your portfolio is chock-full of Winners.


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.


How sweet it is to be loved by you, and you, and you…

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. (Note: for both tables, only stocks that had an average daily turnover greater than $500,000 per day over the past month were considered.)

Company

Last Price

1-wk Chg%

1-yr Chg%

ATH Y/N?

Life360 (360)

$15.11

+0.0%

+174.0%

Y

The A2 Milk Company (A2M)

$6.27

+0.1%

+20.0%

 

Adbri (ABC)

$3.17

0%

+99.0%

 

Adriatic Metals (ADT)

$4.60

+0.0%

+35.0%

Y

Austin Engineering (ANG)

$0.520

+0.1%

+67.0%

 

BetaShares Asia Technology Tigers ETF (ASI)

$8.71

+0.0%

+29.0%

 

Bega Cheese (BGA)

$4.42

0.0%

+14.0%

 

Bannerman Energy (BMN)

$4.54

+0.1%

+236.0%

 

Botanix Pharmaceuticals (BOT)

$0.280

+0.1%

+220.0%

 

Base Resources (BSE)

$0.250

+0.0%

+42.0%

 

Codan (CDA)

$10.92

+0.0%

+49.0%

 

Cooper Energy (COE)

$0.230

+0.1%

+47.0%

 

BetaShares Crypto Innovators ETF (CSC)

$11.65

+0.1%

n/a

Y

Clarity Pharmaceuticals (CU6)

$3.90

+0.1%

+422.0%

Y

Dalrymple Bay Infrastructure (DBI)

$2.86

+0.0%

+13.0%

 

DUG Technology (DUG)

$2.83

0.0%

+177.0%

Y

BetaShares FTSE 100 ETF (F10)

$12.20

+0.0%

+10.0%

Y

Firefly Metals (FFM)

$0.890

+0.1%

+27.0%

 

Fisher & Paykel Healthcare (FPH)

$26.17

+0.0%

+5.0%

 

Gold Hydrogen (GHY)

$1.830

+0.1%

+395.0%

Y

Barrow Hanley Global Share Fund ETF (GLO)

$4.74

+0.0%

+10.0%

Y

Goodman Group (GMG)

$33.65

+0.0%

+70.0%

Y

GQG Partners (GQG)

$2.44

0.0%

+71.0%

Y

iShares Asia 50 ETF (IAA)

$98.50

+0.0%

+14.0%

 

iShares MSCI Emerging Markets ETF (IEM)

$64.29

+0.0%

+11.0%

 

Immutep (IMM)

$0.460

+0.1%

+83.0%

 

Jupiter Mines (JMS)

$0.330

+0.2%

+53.0%

 

Kingsgate Consolidated (KCN)

$1.780

+0.2%

+29.0%

 

Lotus Resources (LOT)

$0.460

0%

+156.0%

 

Macro Metals (M4M)

$0.040

+1.1%

+457.0%

 

Macquarie Technology Group (MAQ)

$91.38

+0.1%

+50.0%

Y

Mineral Resources (MIN)

$77.12

+0.0%

+5.0%

 

MMA Offshore (MRM)

$2.73

+0.0%

+141.0%

 

Metrics Master Income Trust (MXT)

$2.08

0%

+7.0%

 

Mayne Pharma Group (MYX)

$7.01

-0.1%

+71.0%

 

NB Global Corporate Income Trust (NBI)

$1.530

+0.0%

+11.0%

 

Nickel Industries (NIC)

$0.980

+0.0%

+5.0%

 

Nuix (NXL)

$2.34

+0.1%

+123.0%

 

Origin Energy (ORG)

$9.93

+0.0%

+18.0%

 

Orica (ORI)

$18.30

+0.0%

+10.0%

 

Perpetual Credit Income Trust (PCI)

$1.140

0%

+16.0%

 

Paladin Energy (PDN)

$16.54

+0.1%

+153.0%

 

Pro Medicus (PME)

$115.15

+0.0%

+92.0%

Y

Pinnacle Investment Management Group (PNI)

$12.43

+0.1%

+41.0%

 

PSC Insurance Group (PSI)

$6.02

+0.2%

+25.0%

Y

Pacific Smiles Group (PSQ)

$1.900

+0.0%

+73.0%

 

Pexa Group (PXA)

$14.68

+0.1%

+11.0%

 

Vaneck MSCI International Quality ETF (QHA)

$47.01

+0.0%

+28.0%

Y

Qantm Intellectual Property (QIP)

$1.800

+0.1%

+106.0%

 

Qoria (QOR)

$0.440

+0.0%

+159.0%

 

Qube Holdings (QUB)

$3.58

+0.0%

+15.0%

Y

Rincon Resources (RCR)

$0.090

-0.4%

-2.0%

 

Redox (RDX)

$3.17

0%

n/a

Y

Red 5 (RED)

$0.460

+0.1%

+156.0%

 

RPMGlobal Holdings (RUL)

$2.45

+0.0%

+75.0%

Y

Sandfire Resources (SFR)

$9.77

+0.0%

+46.0%

Y

Silver Lake Resources (SLR)

$1.510

+0.1%

+36.0%

 

Silex Systems (SLX)

$6.09

+0.1%

+86.0%

 

SRG Global (SRG)

$0.860

+0.0%

+19.0%

 

Southern Cross Electrical Engineering (SXE)

$1.490

+0.2%

+138.0%

 

Southern Cross Gold (SXG)

$3.21

+0.4%

+394.0%

Y

Unibail-Rodamco-Westfield (URW)

$6.45

0%

+73.0%

 

Vanguard FTSE Emerging Markets ETF (VGE)

$72.59

0%

+10.0%

 

WA1 Resources (WA1)

$20.17

+0.1%

+644.0%

Y

West African Resources (WAF)

$1.430

+0.0%

+48.0%

 

Westpac Banking Corporation (WBC)

$26.66

+0.0%

+23.0%

 

Wesfarmers (WES)

$67.95

0.0%

+32.0%

Y

Winners’ Table: Everything is sweet at the top!

As a trend-following technical analyst, the above list is my shopping list!

I suspect I’m not in the majority, though. In my experience, I find many investors look at the charts of the stocks in this list and say “Oh, I can’t buy that now, it’s gone up too much!”.

On the other hand, I look at the exact same charts and say, these stocks must be doing something very right to be so highly sought after by the demand side and, at the same time, so tightly held by the supply side – exactly the demand-supply environment I want to see.

Once again, there are so many wonderful charts here, but I’m going to give a special mention to Gold Hydrogen (ASX: GHY), Cooper Energy (ASX: COE), Firefly Metals (ASX: FFM), Jupiter Mines (ASX: JMS), iShares Asia 50 ETF (ASX: IAA), Kingsgate Consolidated (ASX: KCN), Macro Metals (ASX: M4M), Qantm Intellectual Property (ASX: QIP), WA1 Resources (ASX: WA1), Red 5 (ASX: RED), and Silver Lake Resources (ASX: SLR).

Jupiter Mines (ASX-JMS) 10 May 2024
Jupiter Mines (JMS) chart has gone from strength to strength recently

The sin bin

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?

Air New Zealand (AIZ)

$0.500

+0.0%

-21.0%

 

Eagers Automotive (APE)

$12.12

+0.0%

-13.0%

 

Coronado Global Resources (CRN)

$1.130

-0.1%

-27.0%

 

Corporate Travel Management (CTD)

$15.40

+0.0%

-26.0%

 

Core Lithium (CXO)

$0.150

+0.1%

-85.0%

 

IPH (IPH)

$5.82

-0.1%

-29.0%

 

Lindsay Australia (LAU)

$0.980

+0.0%

-26.0%

 

Nido Education (NDO)

$0.900

0.0%

n/a

Y

Sims (SGM)

$10.86

-0.1%

-29.0%

 

Spark New Zealand (SPK)

$3.97

-0.1%

-18.0%

 

Vulcan Steel (VSL)

$6.62

-0.1%

-13.0%

Y

Weebit Nano (WBT)

$2.86

0.0%

-60.0%

 

Sinners’ Table: Is it a case of unfair treatment, or are these stocks getting exactly what they deserve?

These are the stocks that no matter what you think about them, are being shunned by the market. Those with cash (i.e., the demand-side) and those who own shares (i.e., the supply-side) both clearly saw something they didn’t like about each of the stocks above list.

Why? You’ll have to ask them. But to assume none of the investors who last week sold shares in the companies listed above weren’t acting rationally having carefully considered all the information in front of them, is risky.

Weebit Nano (ASX-WBT) 10 May 2024
The trends suggest something isn’t quite right at popular ASX tech company Weebit Nano (ASX: WBT)

 

Written By

Carl Capolingua

Content Editor

Carl has over 30-years investing experience, helping 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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