Market Wraps

Evening Wrap: ASX 200 dips as uranium, lithium, gold stocks tank, Myer and Premier rise on tie-up, Cettire and Resmed plunge

Mon 24 Jun 24, 5:40pm (AEST)

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Share article

The S&P/ASX 200 closed 62.3 points lower, down 0.80%.

Ever since the 80's, the general consensus has been that Mondays suck.

Sir Bob said he doesn't like them, New Order called them blue, and Madonna, manic.

The last three starts to the week for the ASX have been terrible (one was a Tuesday because of a public holiday, but please don't let this get in the way of my rant!).

Today, 62.3 points of last week's hard earned gains were wiped off the benchmark, and when you see the intraday chart, you'll see it was done without putting up a hint of a fight.

Energy and Resources were at it again, leading sector losses, as the share prices of uranium and lithium stocks continued to dissolve - the latter on a complete capitulation in a key lithium futures contract.

But there were few areas of the market that didn't concede defeat today. There were some cracking stock specific goings on, however, with big gains for retailers Myer Group (MYR) and Premier Investments (PMV) on news of a potential tie up of several of their respective major brands.

Contrast this against a massive fall for luxury goods retailer Cettire (CTT) after it confessed to a big drop in FY24 profits, and a not-as-big-but-still-nasty drop in Resmed (RMD) after positive results on obesity drugs in the US.

Let's dive in!


Today in Review

Mon 24 Jun 24, 4:25pm (AEST)

Name Value % Chg
Major Indices
ASX 200 7,733.7 -0.80%
All Ords 7,975.1 -0.81%
Small Ords 2,977.1 -0.92%
All Tech 3,089.2 -0.10%
Emerging Companies 2,113.9 -2.21%
Currency
AUD/USD 0.6642 +0.02%
US Futures
S&P 500 5,535.75 +0.03%
Dow Jones 39,545.0 -0.10%
Nasdaq 20,003.5 +0.10%
Name Value % Chg
Sector
Industrials 6,864.9 +0.71%
Information Technology 2,278.7 -0.08%
Utilities 9,303.8 -0.32%
Consumer Staples 12,332.4 -0.45%
Financials 7,601.1 -0.57%
Communication Services 1,495.3 -0.74%
Real Estate 3,652.8 -0.91%
Materials 16,839.5 -1.06%
Consumer Discretionary 3,516.4 -1.15%
Health Care 43,635.2 -1.60%
Energy 9,754.0 -1.86%

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Markets

XJO Intraday Chart 24 June 2024
ASX 200 Session Chart

The S&P/ASX 200 (XJO) finished 62.3 points lower at 7,733.7, % from its session high/low and just % from its high/low. In the broader-based S&P/ASX 300 (XKO), advancers lagged decliners by a dismal 89 to 188.

The Industrials (XNJ) (+0.71%) sector was the best performing sector today. Nothing specific here – just solid performances from most of its most important constituents. I note that the top 5 stocks in the sector by market capitalisation (TCL, BXB REH, CPU, and SVW) were all nicely higher, but there were even better moves as per the table below.

Company

Last Price

Change $

Change %

1mo %

1yr %

Clearvue Technologies (CPV)

$0.550

+$0.075

+15.8%

+8.9%

+233.3%

Electro Optic Systems (EOS)

$1.470

+$0.045

+3.2%

+1.4%

+72.9%

Qube (QUB)

$3.63

+$0.1

+2.8%

-0.8%

+26.0%

Monadelphous Group (MND)

$13.32

+$0.34

+2.6%

-2.1%

+9.2%

Cleanaway Waste Management (CWY)

$2.75

+$0.06

+2.2%

-1.8%

+1.1%

IPH (IPH)

$6.45

+$0.13

+2.1%

+2.7%

-19.8%

Seven Group (SVW)

$37.57

+$0.62

+1.7%

-4.9%

+48.3%

McMillan Shakespeare (MMS)

$17.73

+$0.25

+1.4%

+3.3%

+4.4%

Aurizon (AZJ)

$3.66

+$0.04

+1.1%

-0.8%

-6.2%

Transurban Group (TCL)

$12.68

+$0.13

+1.0%

-0.5%

-12.4%

Downer EDI (DOW)

$4.78

+$0.04

+0.8%

-1.6%

+22.9%

Austal (ASB)

$2.42

+$0.02

+0.8%

0%

-1.6%

Brambles (BXB)

$14.36

+$0.11

+0.8%

-0.2%

+2.1%

Reece (REH)

$25.81

+$0.18

+0.7%

+1.1%

+34.8%

Computershare (CPU)

$26.55

+$0.15

+0.6%

-2.2%

+14.7%

Industrial stocks bucked the trend today, and did so in style

Themes among the losers? Sadly, that's easy to explain!

If you dig stuff out of the ground, or you're kicking over rocks in the hope you can do it in the future, you pretty much gold sold off today: Gold (XGD) (-2.5%), Energy (XEJ) (-1.9%) and Resources (XJR) (-1.4%). Uranium and lithium names topped the losers list, but base metals and iron ore weren't far behind.

Company

Last Price

Change $

Change %

1mo %

1yr %

Peninsula Energy (PEN)

$0.100

-$0.015

-13.0%

-9.1%

-47.3%

Lotus Resources (LOT)

$0.330

-$0.025

-7.0%

-29.0%

+78.4%

Deep Yellow (DYL)

$1.365

-$0.095

-6.5%

-19.9%

+75.0%

Cooper Energy (COE)

$0.220

-$0.015

-6.4%

-2.2%

+41.9%

Bannerman Energy (BMN)

$3.48

-$0.23

-6.2%

-22.8%

+112.8%

Syrah Resources (SYR)

$0.345

-$0.02

-5.5%

-28.9%

-59.8%

Latin Resources (LRS)

$0.175

-$0.01

-5.4%

-31.4%

-14.6%

Boss Energy (BOE)

$3.95

-$0.22

-5.3%

-27.0%

+24.2%

Evolution Mining (EVN)

$3.54

-$0.19

-5.1%

-7.1%

+3.2%

Vulcan Energy Resources (VUL)

$3.80

-$0.2

-5.0%

-31.4%

-7.1%

Core Lithium (CXO)

$0.079

-$0.004

-4.8%

-45.5%

-92.0%

St Barbara (SBM)

$0.200

-$0.01

-4.8%

-29.8%

-9.0%

Nexgen Energy (NXG)

$10.25

-$0.5

-4.7%

-10.6%

+57.7%

Gold Road Resources (GOR)

$1.650

-$0.08

-4.6%

+2.8%

-5.4%

29METALS (29M)

$0.430

-$0.02

-4.4%

-13.1%

-51.8%

Bellevue Gold (BGL)

$1.730

-$0.075

-4.2%

-8.2%

+40.1%

Metals X (MLX)

$0.400

-$0.015

-3.6%

-13.0%

+40.4%

WA1 Resources (WA1)

$16.67

-$0.6

-3.5%

-19.3%

+185.9%

Whitehaven Coal (WHC)

$7.69

-$0.26

-3.3%

-1.4%

+13.3%

Perseus Mining (PRU)

$2.38

-$0.08

-3.3%

-2.1%

+36.8%

Ugly: Gold, energy and mining stocks today

I covered the uranium chart in a recent ChartWatch, but to put the lithium rout into perspective, consider this intraday chart of July lithium carbonate futures on Chinese futures exchange GFEX. It closed below a key point of demand on Friday, and appears set to do the same with the next one at 84,400RMB/t. (Catch my X/Twitter feed for the usual update of key daily lithium charts.)

lithium carbonate futures july-24 GFEX intraday chart
Lithium prices basically gave up today...

Mining and energy companies weren't alone in what was a generally broad-based move lower today, that also notably dragged on the Health Care (XHJ) (-1.6%) and Consumer Discretionary (XDJ) (-1.2%) sectors.

Stock specific moves were the culprits in both.

For Healthcare it was a 13.2% plunge in Resmed (ASX: RMD). Good news on the effectiveness of Eli Lily's weight-loss drugs were interpreted as bad news for RMD. The gist of it is that obesity contributes to sleep apnoea, so fewer obese people means potentially lesser need for RMD's CPAP devices.

In Consumer Discretionary it was a mixed bag. Myer (ASX: MYR) (+20.2%), and Premier Investments (ASX: PMV) (+6.9%) both rose nicely on news they’re looking to combine their apparel brands together.

Elsewhere though, luxury brands retailer Cettire (ASX: CTT) (-49.3%) was taken out behind the back shed and dealt with, harshly. It warned “global online luxury has become more challenging” and this meant sales and profits for FY24 would be substantially down on last year.


ChartWatch

Lumber Futures (Front month, back-adjusted) CME

US Lumber Futures CME chart 21 June 2024
Concerning with respect to what it implies about the US economy

The last time we covered lumber was in ChartWatch in the Evening Wrap on 14 June.

In that update I pointed out just how important the US housing market is for the US economy, and similarly, just how important lumber is as a leading indicator of its health.

Just a shout out here, because I don’t expect you’re trading lumber futures (although shorts on our last update might be doing well!). For now, just note that general broker rhetoric towards a slowing of the US economy has picked up over the last week (check my tweets for several examples).

Iron Ore 62% CFR China Futures (SGX)

SGX Iron Ore CFR China 62- chart 24 June 2024
Another super interesting chart

The last time we covered iron ore was in ChartWatch in the Evening Wrap on 17 June.

In that update we noted total supply-side control – falling peaks and falling troughs, a predominance of supply-side candles, and respect of both static and dynamic points of supply.

Unfortunately, it’s been more of the same since then with the 103.50 point of demand looking like its going to go today (last candle is live at the time of writing).

94-99.20 should in theory be a substantial demand zone. That’s an assumption – and it must be proven by actual price action – that is rising troughs and predominantly demand-side candles in the zone (white-bodied candles and or downward pointing shadows).

If we see the opposite, i.e., black-bodied candles and or upward pointing shadows – iron ore bulls are potentially in for a world of pain – because below 94, the next major point of demand isn’t until 73.60.

I suggest the status quo of supply-side control remains in place until we see a close above at least 109, but more likely, above the long term downtrend ribbon at 116.40 (which would also knock out the point of supply at 114).

 

Gold Futures (Front month, back-adjusted) COMEX

Gold Futures (back-adjusted front month) COMEX chart 24 June 2024
Another super interesting chart

The last time we covered gold was in ChartWatch in the Evening Wrap on 12 June.

In that update I tipped the supply-side had likely taken control and this meant vulnerability to cracking the point of demand at 2308, and therefore likely probing of demand toward the long term uptrend ribbon.

No crack yet, just a slight upward trend which appears to have terminated with Friday supply-side candle at the now dynamic supply of the short term downtrend ribbon.

Friday’s candle is another credible supply-side showing – and it’s consistent with similar showings on 7 June, 22-23 May and 22 April.

I’m going to go “ditto” with the prior analysis: A close below 2308 – let’s call it 2304 now given the 7 June low – paves the way for a probe of the dynamic demand at the long term uptrend ribbon.

For the gold bugs, I suggest a close above 2407 is required to right the ship, demonstrate a return to demand-side control, and strike at least some fear in the hearts of the supply-side.

Silver Futures (Front month, back-adjusted) COMEX

Silver Futures (back-adjusted front month) COMEX chart 24 June 2024
Another super interesting chart

The last time we covered silver was in ChartWatch in the Evening Wrap on 20 June.

In that update we were witnessing the possible formation of a long white demand-side candle. It happened.

But! Any positivity derived from it by the demand-side lasted all of one candle.

The next candle was the equal-opposite – black-bodied with a low close. It’s a reminder the supply-side remains very active here.

The flip-flop volatility in the candles points towards great indecision in the demand-supply environment, and this is resulting in a growing lack of trend. Together, these factors mean there’s very little for a trend trader to do!

My gut says the supply side is winning the battle, though, and a close below what is shaping as a crucial point of demand at 28.73 would likely seal the deal in terms of confirming supply-side control.

If that occurs, the most likely scenario is for silver to probe lower demand points and ultimately, the dynamic demand at the long term uptrend ribbon.

I’d need to see an emphatic close above 30.90 to change my mind (i.e. a long white-bodied candle that closes very near the high of the session).


Economy

Today

  • There weren't any major economic data releases in our time zone today

Later this week

Tuesday

  • 10:30 AUS Westpac Consumer Sentiment June (-0.3% in May)

Wednesday

  • 00:00 USA Conference Board Consumer Confidence June (100.2 forecast vs 102 in May)

  • 11:30 AUS Consumer Price Inflation (CPI) May (3.5% p.a. forecast vs 3.6% p.a. in April)

Thursday

  • 00:00 USA New Home Sales May (650,000 forecast vs 634,000 in April)

  • 11:00 AUS MI Inflation Expectations May (4.1% p.a. in April)

  • 22:30 USA Core Durable Goods Orders May (+0.1% forecast vs +0.4% in April)

Friday

  • 00:00 USA Pending Home Sales May (-7.7% in April)

  • 22:30 USA Core PCE Price Index May (+0.1% to +2.5% p.a. forecast vs +0.2% to +2.7% p.a. in April)

  • 22:30 USA Personal Income May (+0.4% forecast vs +0.3% in April)

  • 22:30 USA Personal Spending May (+0.3% forecast vs +0.2% in April)


Latest News


Interesting Movers

Trading higher

  • +20.2% Myer (MYR) - Proposal received from Myer Holdings Limited

  • +8.7% Novonix (NVX) - No news πŸ€”

  • +6.9% Premier Investments (PMV) - Proposal received from Myer Holdings Limited, rise is consistent with prevailing long term uptrend, short term trend is transitioning from down to up πŸ”ŽπŸ“ˆ

  • +4.2% Botanix Pharmaceuticals (BOT) - No news, continued positive response to Friday's Botanix $70 Million Institutional Capital Raising, rise is consistent with prevailing short and long term uptrends πŸ”ŽπŸ“ˆ

  • +3.7% AMP (AMP) - No news, share buy back in place

  • +3.2% Jupiter Mines (JMS) - No news, rise is consistent with prevailing long term uptrend, closed back above short term trend ribbon πŸ”ŽπŸ“ˆ

Trading lower

  • -49.3% Cettire (CTT) - Cettire Confirms China Launch, Provides FY24 Update, fall is consistent with prevailing short and long term downtrends πŸ”ŽπŸ“ˆ

  • -13.2% Resmed Inc (RMD) - ResMed sinks as drug trial sparks Ozempic-style sell-off (paywall), fall is consistent with prevailing short and long term downtrends πŸ”ŽπŸ“ˆ

  • -13.0% Peninsula Energy (PEN) - No news, tough day for ASX uranium stocks as uranium price dipped on Friday

  • -9.1% Brainchip (BRN) - No news, fall is consistent with prevailing short and long term downtrends πŸ”ŽπŸ“ˆ

  • -7.0% Lotus Resources (LOT) - No news, tough day for ASX uranium stocks as uranium price dipped on Friday

  • -7.0% Droneshield (DRO) - No news, pullback after a massive run up

  • -6.8% Imugene (IMU) - Imugene onCARlytics Doses First Patient in IV Combination, fall is consistent with prevailing short and long term downtrends πŸ”ŽπŸ“ˆ

  • -6.5% Temple & Webster Group (TPW) - No news, likely got tagged by Cettire profit downgrade

  • -6.5% Deep Yellow (DYL) - No news, tough day for ASX uranium stocks as uranium price dipped on Friday

  • -6.4% Cooper Energy (COE) - Ceasing to be a substantial holder

  • -6.2% Bannerman Energy (BMN) - Investor Presentation, tough day for ASX uranium stocks as uranium price dipped on Friday


Broker Notes

  • 29METALS (29M)

    • Retained at neutral at Macquarie; Price Target: $0.47 from $0.50

    • Retained at overweight at Morgan Stanley; Price Target: $0.55

  • ANZ Group (ANZ)

    • Retained at sell at Citi; Price Target: $24.50

  • Atlantic Lithium (A11)

    • Downgraded to neutral from outperform at Macquarie; Price Target: $0.42 from $0.46

  • Argosy Minerals (AGY)

    • Downgraded to underperform from neutral at Macquarie; Price Target: $0.08 from $0.16

  • Aeris Resources (AIS)

    • Retained at neutral at Macquarie; Price Target: $0.26 from $0.30

  • Aristocrat Leisure (ALL)

    • Retained at buy at UBS; Price Target: $56.00 from $44.20

  • Aurelia Metals (AMI)

    • Retained at outperform at Macquarie; Price Target: $0.27 from $0.25

  • Aroa Biosurgery (ARX)

    • Retained at buy at Bell Potter; Price Target: $0.90

  • Austal (ASB)

    • Downgraded to neutral from outperform at Macquarie; Price Target: $2.55 from $2.10

  • Alumina (AWC)

    • Retained at equal-weight at Morgan Stanley; Price Target: $1.60 from $1.30

  • Bega Cheese (BGA)

    • Retained at neutral at UBS; Price Target: $4.50 from $4.10

  • Bellevue Gold (BGL)

    • Upgraded to outperform from neutral at Macquarie; Price Target: $2.10 from $2.00

  • BHP Group (BHP)

    • Retained at neutral at Macquarie; Price Target: $43.00

    • Retained at equal-weight at Morgan Stanley; Price Target: $46.65 from $46.75

    • Boss Energy (BOE) retained at equal-weight at Morgan Stanley; Price Target: $4.65 from $4.60

  • Beach Energy (BPT)

    • Retained at buy at Bell Potter; Price Target: $1.75

    • Retained at equal-weight at Morgan Stanley; Price Target: $1.49 from $1.68

    • Commonwealth Bank of Australia (CBA) retained at sell at UBS; Price Target: $107.00

    • Champion Iron (CIA) retained at outperform at Macquarie; Price Target: $7.50 from $7.90

    • Capricorn Metals (CMM) upgraded to neutral from underperform at Macquarie; Price Target: $5.10 from $4.70

    • Carnaby Resources (CNB) retained at outperform at Macquarie; Price Target: $1.00 from $1.13

    • Coronado Global Resources (CRN) retained at outperform at Macquarie; Price Target: $2.00 from $1.80

    • Capstone Copper Corp. (CSC) retained at outperform at Macquarie; Price Target: $12.80 from $12.60

    • Centaurus Metals (CTM) retained at outperform at Macquarie; Price Target: $0.70

    • Core Lithium (CXO) retained at neutral at Macquarie; Price Target: $0.09 from $0.15

    • De Grey Mining (DEG) retained at outperform at Macquarie; Price Target: $1.80 from $1.68

  • Deterra Royalties (DRR)

    • Retained at neutral at Citi; Price Target: $4.35 from $5.20

    • Retained at neutral at Macquarie; Price Target: $4.00 from $4.50

    • Downgraded to equal-weight from overweight at Morgan Stanley; Price Target: $3.70 from $5.60

  • Evolution Mining (EVN)

    • Upgraded to outperform from neutral at Macquarie; Price Target: $4.30 from $4.00

    • Retained at overweight at Morgan Stanley; Price Target: $4.15 from $3.90

    • Downgraded to neutral from buy at UBS; Price Target: $2.80 from $4.45

  • Fortescue (FMG)

    • Retained at underperform at Macquarie; Price Target: $12.50 from $13.50

    • Retained at underweight at Morgan Stanley; Price Target: $18.70 from $18.85

  • GDI Property Group (GDI)

    • Retained at buy at Bell Potter; Price Target: $0.75

  • Global Lithium Resources (GL1)

    • Downgraded to neutral from outperform at Macquarie; Price Target: $0.30

    • Galan Lithium (GLN) retained at neutral at Macquarie; Price Target: $0.20 from $0.25

    • Genesis Minerals (GMD) retained at outperform at Macquarie; Price Target: $2.10 from $2.00

    • Gold Road Resources (GOR) upgraded to outperform from neutral at Macquarie; Price Target: $1.90 from $1.70

    • Healthco Healthcare and Wellness Reit (HCW) retained at buy at Bell Potter; Price Target: $1.50

    • Hansen Technologies (HSN) retained at buy at UBS; Price Target: $6.20 from $6.50

  • IGO (IGO)

    • Retained at neutral at Macquarie; Price Target: $6.00 from $7.60

    • Retained at underweight at Morgan Stanley; Price Target: $5.05 from $6.05

  • Iluka Resources (ILU)

    • Retained at neutral at Macquarie; Price Target: $7.00 from $7.40

    • Retained at equal-weight at Morgan Stanley; Price Target: $6.70 from $7.00

  • Jupiter Mines (JMS)

    • Retained at outperform at Macquarie; Price Target: $0.40 from $0.35

  • KMD Brands (KMD)

    • Retained at equal-weight at Morgan Stanley; Price Target: $0.55

  • Vaneck Glbl Listed Private Credit (Hedged) ETF (LEO)

    • Downgraded to hold from buy at Canaccord Genuity; Price Target: $0.50 from $0.80

  • Light & Wonder (LNW)

    • Initiated at neutral at UBS; Price Target: $162.00

  • Arcadium Lithium (LTM)

    • Retained at outperform at Macquarie; Price Target: $6.60 from $9.40

  • Liontown Resources (LTR)

    • Retained at neutral at Macquarie; Price Target: $1.05 from $1.30

  • Lynas Rare Earths (LYC)

    • Retained at underweight at Morgan Stanley; Price Target: $4.85 from $5.35

  • Mount Gibson Iron (MGX)

    • Retained at outperform at Macquarie; Price Target: $0.50

  • Mineral Resources (MIN)

    • Downgraded to neutral from outperform at Macquarie; Price Target: $62.00 from $75.00

    • Retained at overweight at Morgan Stanley; Price Target: $79.00 from $85.50

    • Newmont Corporation (NEM) retained at outperform at Macquarie; Price Target: $83.00 from $71.00

    • New Hope Corporation (NHC) upgraded to neutral from underperform at Macquarie; Price Target: $4.00 from $4.10

  • Nickel Industries (NIC)

    • Retained at outperform at Macquarie; Price Target: $1.10 from $1.20

    • Retained at overweight at Morgan Stanley; Price Target: $0.95

  • Northern Star Resources (NST)

    • Retained at outperform at Macquarie; Price Target: $18.00 from $17.00

    • Retained at equal-weight at Morgan Stanley; Price Target: $14.90 from $14.50

  • Paladin Energy (PDN)

    • Retained at overweight at Morgan Stanley; Price Target: $16.65 from $17.45

  • Piedmont Lithium (PLL)

    • Retained at outperform at Macquarie; Price Target: $0.25 from $0.36

  • Pilbara Minerals (PLS)

    • Retained at buy at Jefferies; Price Target: $3.80 from $4.40

    • Retained at underweight at JP Morgan; Price Target: $3.10

    • Retained at neutral at Macquarie; Price Target: $3.25 from $4.20

    • Retained at underweight at Morgan Stanley; Price Target: $2.75 from $3.35

    • Upgraded to add from hold at Morgans; Price Target: $3.70 from $4.10

    • Retained at sell at UBS; Price Target: $2.70

  • Patriot Battery Metals (PMT)

    • Retained at outperform at Macquarie; Price Target: $1.50 from $1.90

  • Perenti (PRN)

    • Retained at outperform at Macquarie; Price Target: $1.70

  • Perseus Mining (PRU)

    • Retained at outperform at Macquarie; Price Target: $3.00 from $2.70

  • Red 5 (RED)

    • Retained at outperform at Macquarie; Price Target: $0.55 from $0.50

  • Rio Tinto (RIO)

    • Retained at neutral at Macquarie; Price Target: $119.00 from $123.00

    • Retained at overweight at Morgan Stanley; Price Target: $142.00 from $137.50

  • Resmed Inc (RMD)

    • Retained at buy at Citi; Price Target: $36.00

    • Downgraded to neutral from positive at E&P; Price Target: $33.00 from $34.00

    • Retained at overweight at Morgan Stanley; Price Target: US$219

  • Ramelius Resources (RMS)

    • Upgraded to outperform from neutral at Macquarie; Price Target: $2.10 from $2.00

  • Regis Resources (RRL)

    • Retained at outperform at Macquarie; Price Target: $2.90 from $2.60

    • Retained at overweight at Morgan Stanley; Price Target: $2.10 from $2.50

  • Resolute Mining (RSG)

    • Retained at outperform at Macquarie; Price Target: $0.70 from $0.60

  • Rex Minerals (RXM)

    • Retained at outperform at Macquarie; Price Target: $0.40

  • South32 (S32)

    • Retained at outperform at Macquarie; Price Target: $4.50 from $4.25

    • Downgraded to equal-weight from overweight at Morgan Stanley; Price Target: $3.80 from $3.35

  • St Barbara (SBM)

    • Upgraded to outperform from neutral at Macquarie; Price Target: $0.28 from $0.25

  • Sandfire Resources (SFR)

    • Retained at outperform at Macquarie; Price Target: $11.20 from $10.80

    • Retained at equal-weight at Morgan Stanley; Price Target: $8.25 from $8.40

  • Sims (SGM)

    • Downgraded to underperform from neutral at Bank of America; Price Target: $9.40 from $11.50

  • Strike Energy (STX)

    • Retained at buy at Bell Potter; Price Target: $0.29

  • Sayona Mining (SYA)

    • Retained at neutral at Macquarie; Price Target: $0.04

  • Syrah Resources (SYR)

    • Retained at equal-weight at Morgan Stanley; Price Target: $0.40 from $0.50

  • West African Resources (WAF)

    • Retained at outperform at Macquarie; Price Target: $2.00 from $1.60

  • Westgold Resources (WGX)

    • Upgraded to outperform from neutral at Macquarie; Price Target: $2.80 from $2.20

  • Whitehaven Coal (WHC)

    • Retained at outperform at Macquarie; Price Target: $9.00

    • Retained at overweight at Morgan Stanley; Price Target: $9.75 from $9.65

  • Worley (WOR)

    • Retained at outperform at Macquarie; Price Target: $18.10


Scans

Top Gainers

Code Company Last % Chg
ENR Encounter Resourc... $0.62 +79.71%
XPN Xpon Technologies... $0.016 +60.00%
ICR Intelicare Holdin... $0.014 +55.56%
BUR Burley Minerals Ltd $0.135 +37.76%
RWD Reward Minerals Ltd $0.032 +33.33%
View all top gainers

Top Fallers

Code Company Last % Chg
CCX City Chic Collect... $0.12 -60.00%
CTT Cettire Ltd $1.135 -49.33%
BGE Bridge Saas Ltd $0.012 -40.00%
IMI Infinity Mining Ltd $0.015 -21.05%
MTM MTM Critical Meta... $0.037 -17.78%
View all top fallers

52 Week Highs

Code Company Last % Chg
ENR Encounter Resourc... $0.62 +79.71%
OIL Optiscan Imaging Ltd $0.205 +13.89%
CAG Cape Range Ltd $0.16 +10.35%
IRI Integrated Resear... $0.82 +6.49%
BOT Botanix Pharmaceu... $0.375 +4.17%
View all 52 week highs

52 Week Lows

Code Company Last % Chg
CCX City Chic Collect... $0.12 -60.00%
CTT Cettire Ltd $1.135 -49.33%
BGE Bridge Saas Ltd $0.012 -40.00%
IMI Infinity Mining Ltd $0.015 -21.05%
OLY Olympio Metals Ltd $0.022 -15.39%
View all 52 week lows

Near Highs

Code Company Last % Chg
ANZ ANZ Group Holding... $28.65 -1.00%
WBC Westpac Banking C... $27.15 -0.33%
MVB Vaneck Australian... $35.03 -0.51%
VNT Ventia Services G... $3.90 -1.27%
ANN Ansell Ltd $26.34 -0.75%
View all near highs

Relative Strength Index (RSI) Oversold

Code Company Last % Chg
DGL DGL Group Ltd $0.525 -3.67%
CNEW Vaneck China New ... $5.99 -1.32%
OZR SPDR S&P/ASX 200 ... $12.61 -1.33%
ALD Ampol Ltd $32.21 -1.80%
VEA Viva Energy Group... $3.11 -0.96%
View all RSI oversold

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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