ASX 200 stocks hitting fresh 52-week highs and lows – Week 33

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: 8 Highs, 0 Lows

• Discretionary: 4 Highs, 0 Lows

• Materials: 3 Highs, 10 Lows

• Real Estate: 3 Highs, 1 Low

• Industrials: 2 Highs, 2 Lows

• Energy: 0 Highs, 2 Lows

• Technology, Healthcare and Telcos all recorded 2 Highs and 2 Lows

• Staples and Utilities both recorded 1 High and 0 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

• JB Hi-Fi's solid performance signals industry resilience: Despite a 16.4% profit decline to $438.8 million, JB Hi-Fi's FY24 results surpassed market expectations by 3.7%. The company's EBITDA margins of 6.75% outperformed Citi's 6.5% forecast, while JB Hi-Fi Australia reported a 5.6% sales increase for July. These figures suggest a broader industry trend: Earnings are declining less than anticipated, balance sheets remain robust, and margins are holding steady.

• Big banks demonstrate stability: Commonwealth Bank reported resilient FY24 numbers, with cash net profits down just 2% to $9.83 billion, slightly ahead of consensus. The full-year dividend increased by 3% to $4.65 per share. Other financials including AMP, Pinnacle, and Magellan Financial Group, also posted better-than-expected results, indicating strength across the sector.

• Gold stocks shine: Several gold stocks reached new 52-week highs last week, with more expected to follow as bullion prices surpassed US$2,500 an ounce for the first time on Friday.

• Iron ore and lithium face headwinds: In contrast to the gold sector's success, iron ore and lithium stocks such as Fortescue, MinRes, and BHP continue to struggle. The downward trend persisted last week, with iron ore prices hitting two-year lows due to weak Chinese steelmaking and property sector data, underscoring the challenges facing these commodities.

ASX 200 Discretionary stocks at 52-week highs

Data shows any stock to have hit a 52-week high in the past week. Share price and performance as at Friday, 16 August close

ASX 200 Financials at 52-week highs

Data shows any stock to have hit a 52-week high in the past week. Share price and performance as at Friday, 16 August close

All other stocks at 52-week highs

Data shows any stock to have hit a 52-week high in the past week. Data is sorted by Sector and 1-year performance. Share price and performance as at Friday, 16 August close

Resource stocks at 52-week lows

Data shows any stock to have hit a 52-week low in the past week. Share price and performance as at Friday, 16 August close

All other stocks at 52-week lows

Data shows any stock to have hit a 52-week low in the past week. Data is sorted by Sector and 1-year performance. Share price and performance as at Friday, 16 August close