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Data Insights
ASX 200 stocks hitting fresh 52-week highs and lows – Week 5
By
Kerry Sun
Mon 29 Jan 24, 10:28am (AEDT)
Source: Shutterstock
Stocks in article
Key Points
- Financials dominate the 52-week highs list, with notable strength coming from major banks and insurance stocks
- Battery metal stocks continue to struggle, with names like Arcadium Lithium, Liontown and Sayona marking yet another yearly low
Welcome back to the 52-week Series – A recap of ASX 200 stocks that have hit yearly highs and lows in the past week.
52-Week Highs and Lows by Sector
Financials: 6 Highs, 0 Lows
Materials: 5 Highs, 9 Lows
Communication Services: 3 Highs, 0 Lows
Industrials: 3 Highs, 0 Lows
Discretionary: 2 Highs, 2 Lows
Health Care: 2 Highs ,1 Low
Energy: 1 High, 1 Low
Staples: 1 High, 0 Lows
Real Estate, Utilities: 0 Highs, 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 found that a) the closer a stock's current price is to its 52-week high, the stronger the stock performs in the subsequent period and b) nearness to the 52-week high is a better predictor of future returns than 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.” In 2023, this proved useful for identifying moves made by construction and building materials, iron ore and insurance stocks.
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
Different week, same sectors – The 52-weeks data has effectively noted the same trends for the past 2-3 weeks. Notably, the strength behind the financial sector (both major banks as well as insurers and insurance brokers) and continued weakness in battery metal names.
Building and construction – The sector remains relatively strong but names with US-exposure such as James Hardie are beginning to pullback.
Battery metal stocks – A number of battery metal stocks are trying to bounce off fresh 52-week lows, including Nickel Industries, IGO and MinRes. It's difficult to say whether or not this is a technical bounce (from oversold levels) or a real bottom. Note that MinRes rallied 7% last Thursday after reporting a stronger-than-expected quarterly update.
Financials at 52-week highs
Ticker | Company | Close Price | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
Helia Group | $4.79 | Financials | 4.8% | 68.7% | |
Hub24 | $37.66 | Financials | 3.0% | 47.5% | |
Netwealth Group | $17.37 | Financials | 3.8% | 35.8% | |
Medibank Private | $3.74 | Financials | -1.3% | 28.5% | |
ANZ | $26.67 | Financials | 3.4% | 6.8% | |
Commonwealth Bank | $114.86 | Financials | 2.1% | 4.6% |
Data as at Thursday, 25 January 2024 close
... And Everything Else
Ticker | Company | Close Price | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
Car Group | $32.82 | Communication Services | 5.0% | 47.2% | |
News Corp | $38.92 | Communication Services | 4.3% | 33.8% | |
Spark New Zealand | $4.97 | Communication Services | 1.8% | 4.0% | |
Aristocrat Leisure | $43.59 | Discretionary | 5.5% | 27.9% | |
Wesfarmers | $58.45 | Discretionary | 2.4% | 17.8% | |
Boss Energy | $5.58 | Energy | 0.0% | 121.4% | |
Pro Medicus | $100.07 | Health Care | 3.6% | 53.7% | |
Cochlear | $299.50 | Health Care | 3.4% | 45.0% | |
Reece | $22.40 | Industrials | 3.2% | 41.3% | |
Ventia Services | $3.14 | Industrials | 0.3% | 31.4% | |
Johns Lyng | $6.84 | Industrials | 2.1% | 16.5% | |
Emerald Resources | $3.26 | Materials | 0.0% | 136.2% | |
James Hardie | $55.56 | Materials | 0.3% | 76.1% | |
CSR | $6.96 | Materials | 3.7% | 32.1% | |
Brickworks | $28.43 | Materials | 2.9% | 18.7% | |
Deterra Royalties | $5.38 | Materials | 5.9% | 9.6% | |
Inghams Group | $4.31 | Staples | 0.0189 | 0.4862 | |
Data#3 | $9.20 | Technology | 3.6% | 27.8% |
Data as at Thursday, 25 January 2024 close
ASX 200 stocks at 52-week lows
Ticker | Company | Close Price | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
IDP Education | $19.67 | Discretionary | -7.22% | -35.49% | |
Domino's Pizza | $39.51 | Discretionary | -30.32% | -46.39% | |
Karoon Energy | $1.91 | Energy | 6.42% | -20.50% | |
Nanosonics | $3.04 | Health Care | -26.21% | -37.58% | |
Arcadium Lithium | $8.20 | Materials | 0.12% | na | |
Newmont Corp | $52.51 | Materials | -0.79% | na | |
Lynas Rare Earths | $6.09 | Materials | 1.50% | -32.93% | |
Mineral Resources | $59.39 | Materials | 1.52% | -35.56% | |
Liontown Resources | $0.92 | Materials | -24.28% | -43.21% | |
Nickel Industries | $0.60 | Materials | 2.56% | -45.21% | |
IGO | $7.47 | Materials | 4.77% | -52.75% | |
Chalice Mining | $1.05 | Materials | -0.94% | -83.04% | |
Sayona Mining | $0.04 | Materials | -9.09% | -85.71% |
Data as at Thursday, 25 January 2024 close
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