News
Evening Wrap: ASX 200 edges higher as financials, property and tech stocks lead, worrying China market move drags down commodities
Mon 16 Sep 24, 5:46pm (AEST)
Data Insights
ASX 200 stocks hitting fresh 52-week highs and lows – Week 28
By
Kerry Sun
Mon 15 Jul 24, 9:32am (AEST)
Source: Shutterstock
Stocks in article
Key Points
- Banks, insurers and asset managers continue to trend higher, buoyed by growing expectations of a September Fed rate cut
- Gold miners showed momentum, with four materials stocks reaching new highs as gold prices hit US$2,415 an ounce last week
- Technology stocks are also performing well, with four companies hitting 52-week highs
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
Financials: 6 Highs, 1 Low
Materials: 4 Highs, 0 Lows
Technology: 4 Highs, 0 Lows
Industrials: 2 Highs, 1 Low
Discretionary: 2 Highs, 1 Low
Health Care: 2 Highs, 0 Lows
Energy: 1 High, 0 Lows
Telcos: 1 High, 0 Lows
Real Estate, Utilities and Staples all recorded no highs or 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.
What Does the Data Tell Us
Financials continue to trend higher: The S&P/ASX 200 Financials Index outperformed the official benchmark by 101 bps last week, with heavyweight CBA up 3.6% to fresh all-time highs. The financials sector continues to trend higher as a softer-than-expected US inflation print bolstered bets on a September Fed rate cut. Australian bond yields experienced minor declines last week, down 4-10 bps across the curve.
Gold is starting to move: This is the epitome of Minervini's comment about how a "growing number of names in a particular industry making new 52-week highs ... could be an indication that a group advance is underway." The US inflation data helped lift gold prices by almost two percent last Thursday to US$2,415 an ounce. This helped push the VanEck Gold Miners ETF (a useful barometer for the gold mining sector) to levels not seen since April 2022.
ASX 200 Financials at 52-Week Highs
Ticker | Company | Last | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
Pinnacle Investment Management | $15.44 | Financials | 7.8% | 56.6% | |
National Australia Bank | $36.95 | Financials | 4.6% | 36.3% | |
Bendigo and Adelaide Bank | $11.71 | Financials | 2.8% | 29.8% | |
Commonwealth Bank of Australia | $131.66 | Financials | 3.6% | 29.2% | |
ANZ Group | $29.60 | Financials | 3.3% | 20.6% | |
Steadfast Group | $6.38 | Financials | 3.1% | 9.3% |
Data shows any stock to have hit a 52-week high in the past week. Share price and performance as at Friday, 12 July close
ASX 200 Tech at 52-Week Highs
Ticker | Company | Last | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
Altium | $68.26 | Technology | 0.1% | 83.7% | |
NextDC | $17.92 | Technology | 0.7% | 40.8% | |
Technology One | $18.75 | Technology | 2.5% | 17.5% | |
Xero | $140.49 | Technology | 3.8% | 12.9% |
Data shows any stock to have hit a 52-week high in the past week. Share price and performance as at Friday, 12 July close
ASX 200 Materials at 52-Week Highs
Ticker | Company | Last | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
Newmont Corporation | $69.50 | Materials | 6.9% | na | |
Emerald Resources | $4.02 | Materials | 9.5% | 73.3% | |
Genesis Minerals | $2.07 | Materials | 9.2% | 58.0% | |
Perseus Mining | $2.73 | Materials | 14.7% | 53.4% |
Data shows any stock to have hit a 52-week high in the past week. Share price and performance as at Friday, 12 July close
All Other ASX 200 Stocks at 52-Week Highs
Ticker | Company | Last | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
JB Hi-Fi | $66.11 | Discretionary | 6.1% | 45.7% | |
Aristocrat Leisure | $52.92 | Discretionary | 3.9% | 34.4% | |
Whitehaven Coal | $8.61 | Energy | -4.0% | 26.1% | |
Telix Pharmaceuticals | $19.93 | Health Care | 7.9% | 69.9% | |
CSL | $306.60 | Health Care | 2.3% | 18.5% | |
Ventia Services | $4.16 | Industrials | 4.8% | 35.1% | |
Qube | $3.76 | Industrials | 2.2% | 30.6% | |
REA Group | $201.44 | Telecommunication | 3.6% | 35.0% |
Data shows any stock to have hit a 52-week high in the past week. Share price and performance as at Friday, 12 July close
ASX 200 Stocks at 52-week Lows
Ticker | Company | Last | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
Collins Foods | $9.06 | Discretionary | 0.2% | -10.3% | |
NIB Holdings | $6.94 | Financials | -0.6% | -14.7% | |
Kelsian Group | $5.24 | Industrials | 9.2% | -26.2% | |
Pilbara Minerals | $3.06 | Materials | 2.0% | -40.2% | |
Seek | $20.72 | Telecommunication | 2.3% | -14.4% | |
APA Group | $7.96 | Utilities | 0.6% | -19.4% |
Data shows any stock to have hit a 52-week low in the past week. Share price and performance as at Friday, 12 July close
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