News
Evening Wrap: ASX 200 slides on broad-based falls, finishes at week's low as Santa rally fades
Fri 06 Dec 24, 5:45pm (AEDT)
Data Insights
ASX 200 stocks hitting fresh 52-week highs and lows – Week 6
By
Kerry Sun
Mon 05 Feb 24, 12:30pm (AEDT)
Source: Shutterstock
Stocks in article
Key Points
- Stocks from the ASX 200 Materials and Financials sector continue to go from strength-to-strength, with a combined 15 stocks hitting 52-week highs last week
- Research suggests stocks near 52-week highs have the tendency to outperform
- Pinnacle might've provided a key read through for the funds management industry, with first-half FY24 net inflows of $4.5 billion or 540% ahead of Macquarie expectations
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
Materials: 8 Highs, 5 Lows
Financials: 7 Highs, 0 Lows
Communication Services: 4 Highs, 0 Lows
Discretionary: 4 Highs. 3 Lows
Industrials, Energy and Tech: 3 Highs, 0 Lows
Healthcare: 2 Highs, 0 Lows
Real Estate: 1 High, 0 Lows
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-week data continues persistent trends such as strength among stocks in the financials sector (major banks, insurers and insurance brokers), materials (homebuilders) and weakness among battery metal stocks.
More banks join the party: Commonwealth Bank and ANZ were the first major banks to hit a fresh 52-week high in January 2024. Westpac and NAB have now joined the party.
Unexpected inflows: Pinnacle Investment Management might be one of the first fund managers to report interim results on February 2. The stock rallied 8.6% on results day on some unexpectedly strong numbers. The company reported net inflows for the first half of FY24 of $4.5 billion. To add some perspective, Macquarie analysts expected inflows of $700 million (or a 540% beat).
Selective resources: The resource sector is moving out in a relatively selective fashion. That is, building materials, Fortescue and Emerald Resources (one of the best performing large cap gold stocks of 2023).
Battery metal losers: Names like MinRes, Liontown and IGO have managed to avoid a fresh 52-week low this week. But beleaguered names like Sayona and Chalice continued their downward spiral.
Financials at 52-week highs
Ticker | Company | Close Price | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
Helia Group | $4.87 | Financials | 1.7% | 75.8% | |
Netwealth Group | $16.76 | Financials | -3.5% | 23.1% | |
ANZ | $27.26 | Financials | 2.2% | 5.9% | |
Pinnacle Investment Management | $10.84 | Financials | 5.8% | 5.3% | |
Commonwealth Bank | $115.81 | Financials | 0.8% | 4.2% | |
National Australia Bank | $32.25 | Financials | 1.5% | 1.1% | |
Westpac | $24.05 | Financials | 1.5% | 0.5% |
Data shows any stock to have hit a 52-week high in the past week. Share price and performance as at Friday, 2 February 2024 close
Materials at 52-week highs
Ticker | Company | Close Price | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
Emerald Resources | $3.22 | Materials | -1.2% | 106.4% | |
James Hardie | $59.35 | Materials | 6.8% | 71.7% | |
Fortescue Ltd Ordinary | $29.73 | Materials | 2.6% | 35.4% | |
CSR | $6.92 | Materials | -0.6% | 31.3% | |
Bluescope Steel | $23.36 | Materials | 0.1% | 23.0% | |
Brickworks | $29 | Materials | 2.0% | 19.9% | |
Sandfire Resources | $7.28 | Materials | 3.3% | 17.6% | |
Deterra Royalties | $5.41 | Materials | 0.6% | 10.6% |
Data shows any stock to have hit a 52-week high in the past week. Share price and performance as at Friday, 2 February 2024 close
... And Everything Else
Ticker | Company | Close Price | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
REA Group | $184.62 | Communication Services | 0.3% | 45.8% | |
Car Group | $33.58 | Communication Services | 2.3% | 44.5% | |
News Corp | $39.25 | Communication Services | 0.9% | 29.7% | |
Spark New Zealand | $4.97 | Communication Services | 0.0% | 3.1% | |
Aristocrat Leisure | $44.65 | Discretionary | 2.4% | 22.5% | |
Breville Group | $26.91 | Discretionary | 1.0% | 18.0% | |
Wesfarmers | $58.86 | Discretionary | 0.7% | 16.1% | |
Premier Investments | $28.22 | Discretionary | 0.8% | 1.7% | |
Boss Energy | $6.11 | Energy | 9.5% | 137.7% | |
Paladin Energy | $1.375 | Energy | 11.8% | 71.9% | |
Viva Energy | $3.6 | Energy | 4.7% | 23.3% | |
Pro Medicus | $104.8 | Health Care | 4.7% | 52.7% | |
Cochlear | $309.31 | Health Care | 3.3% | 39.4% | |
Smartgroup | $9.52 | Industrials | 3.8% | 63.3% | |
Ventia Services | $3.25 | Industrials | 3.5% | 34.3% | |
Reece Limited Ordinary | $22.43 | Industrials | 0.1% | 29.5% | |
Goodman Group | $26.98 | Real Estate | 8.3% | 28.8% | |
Megaport Limited Ordinary | $13 | Technology | 37.9% | 117.8% | |
Data#3 | $9.6 | Technology | 4.4% | 31.5% | |
Altium | $51.85 | Technology | 6.6% | 30.1% |
Data shows any stock to have hit a 52-week high in the past week. Share price and performance as at Friday, 2 February 2024 close
ASX 200 stocks at 52-week lows
Ticker | Company | Close Price | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
Bapcor | 5.66 | Discretionary | 7.4% | -13.7% | |
IDP Education | 19.31 | Discretionary | -1.8% | -39.9% | |
Domino's Pizza | 41.18 | Discretionary | 4.2% | -43.5% | |
Arcadium Lithium | 7.22 | Materials | -12.0% | na | |
Newmont Corp | 54.84 | Materials | 4.4% | na | |
Lynas | 5.83 | Materials | -4.3% | -38.0% | |
Sayona Mining | 0.04 | Materials | 0.0% | -84.6% | |
Chalice Mining | 0.94 | Materials | -10.5% | -85.5% |
Data shows any stock to have hit a 52-week low in the past week. Share price and performance as at Friday, 2 February 2024 close
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