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The S&P/ASX 200 closed 70.8 points higher, up 0.85%.
Australian stocks put the cherry on top of the icing of a record breaking week today with all but one major ASX sector closing in the black.
That one, Information Technology, was down sharply on the back of a plunge in one of its major constituents, Wisetech Global (WTC). Wisetech was down nearly 20% shortly after the open of trade as investors dumped the stock in the wake of a FY25 profit downgrade.
Wisetech steadied to close only down 12.4% on the session, and it wasn't the only stock to disappoint the market today (try Megaport's (MP1) 9.5% plunge despite reaffirming its FY25 guidance).
In other moves, Lithium stocks were hobbled on yet another dip in lithium minerals prices in China. Pilbara Minerals bore the brunt of the selling, dipping nearly 7%.
Well, that's all the bad news out of the way. Now for the good news, and there's plenty of it... Pretty much everything else went up, including a very nice pop A2 Milk Co. (A2M) as well as strong gains in several major ASX uranium stocks!
Click/scroll through for the usual reporting of the major sector and stock-specific moves, the broker responses to them, as well as all of the key upcoming economic data in tonight's Evening Wrap.
Also, I have detailed technical analysis on Gold and Cameco (the world's second biggest uranium producer) in today's ChartWatch.
Let's dive in!
Today in Review
Fri 22 Nov 24, 5:31pm (AEDT)
Name | Value | % Chg |
---|---|---|
Major Indices | ||
ASX 200 | 8,393.8 | +0.85% |
All Ords | 8,633.1 | +0.77% |
Small Ords | 3,139.9 | +0.75% |
All Tech | 3,840.6 | -1.02% |
Emerging Companies | 2,273.3 | +0.61% |
Currency | ||
AUD/USD | 0.6491 | -0.31% |
US Futures | ||
S&P 500 | 5,971.0 | +0.01% |
Dow Jones | 44,006.0 | +0.04% |
Nasdaq | 20,807.75 | -0.10% |
Name | Value | % Chg |
---|---|---|
Sector | ||
Energy | 8,880.1 | +2.30% |
Utilities | 9,087.4 | +1.44% |
Health Care | 44,352.7 | +1.34% |
Industrials | 7,660.2 | +1.16% |
Financials | 9,059.3 | +1.15% |
Materials | 16,787.6 | +0.84% |
Real Estate | 3,958.4 | +0.78% |
Consumer Staples | 11,532.1 | +0.77% |
Consumer Discretionary | 3,868.9 | +0.65% |
Communication Services | 1,672.1 | +0.06% |
Information Technology | 2,779.2 | -4.45% |
Markets
ASX 200 Session Chart
The S&P/ASX 200 (XJO) finished 70.8 points higher at 8,393.8, 0.85% from its session high and just 0.27% from its low. In the broader-based S&P/ASX 300 (XKO), advancers beat decliners by a resounding 204 to 70.
For the week, the XJO finished up 108.6 points or 1.31% higher, 1.81% from its intraweek low and 0.61% from its intraweek high.
Energy (XEJ) (+2.3%) took out the honour of best performing sector in today’s record setting trading session. Crude oil and natural gas prices rose on Thursday, the latter sharply, on simmering geopolitical tensions (i.e., Russia vs The West!).
These tensions will also likely have an impact on the global uranium market, and this saw strong gains in key global uranium stocks overnight. Those gains spilled over into local uranium plays, but none of them finished with the flourish that Canada’s Cameco did last evening. I have detailed technical analysis on Cameco on today’s ChartWatch section below.
Utilities (XUJ) (+1.4%) was the next best performing sector – but I note it’s basically a sub-sector of the Energy sector…
Also doing well, were defensives like Health Care (XHJ) (+1.3%) and Gold (XGD) (+1.3%) sub-index, the latter benefiting from another solid gain in the gold price overnight and into Asian trade today. Again, full technical analysis for you in tonight’s ChartWatch.
Company | Last Price | Change $ | Change % | 1mo % | 1yr % |
The A2 Milk Company (A2M) | $5.45 | +$0.64 | +13.3% | -6.2% | +35.9% |
Firefly Metals (FFM) | $1.165 | +$0.1 | +9.4% | +10.4% | +142.7% |
Lotus Resources (LOT) | $0.245 | +$0.015 | +6.5% | -7.5% | 0% |
Deep Yellow (DYL) | $1.265 | +$0.075 | +6.3% | -12.2% | +9.1% |
Paladin Energy (PDN) | $8.20 | +$0.46 | +5.9% | -33.9% | -18.0% |
Superloop (SLC) | $2.14 | +$0.12 | +5.9% | +7.5% | +231.8% |
Vulcan Energy Resources (VUL) | $7.01 | +$0.36 | +5.4% | +50.8% | +173.8% |
Yancoal Australia (YAL) | $6.64 | +$0.34 | +5.4% | +2.0% | +36.6% |
Sigma Healthcare (SIG) | $2.55 | +$0.13 | +5.4% | +38.2% | +269.8% |
Pinnacle Investment Management Group (PNI) | $23.30 | +$1.18 | +5.3% | +23.2% | +154.1% |
Iperionx (IPX) | $4.40 | +$0.2 | +4.8% | +40.6% | +195.3% |
Regis Healthcare (REG) | $6.70 | +$0.26 | +4.0% | +3.7% | +140.1% |
GQG Partners (GQG) | $2.21 | +$0.08 | +3.8% | -17.5% | +48.3% |
Boss Energy (BOE) | $3.07 | +$0.11 | +3.7% | -14.2% | -26.9% |
Lifestyle Communities (LIC) | $8.96 | +$0.32 | +3.7% | +1.1% | -47.9% |
Bannerman Energy (BMN) | $2.81 | +$0.1 | +3.7% | -11.4% | +1.8% |
Spartan Resources (SPR) | $1.280 | +$0.045 | +3.6% | -19.0% | +206.7% |
Light & Wonder (LNW) | $146.99 | +$5.13 | +3.6% | +5.1% | +10.8% |
Whitehaven Coal (WHC) | $6.91 | +$0.24 | +3.6% | +7.6% | +0.7% |
Metals Acquisition (MAC) | $18.97 | +$0.65 | +3.5% | +4.5% | 0% |
Ramsay Health Care (RHC) | $39.05 | +$1.3 | +3.4% | -6.5% | -22.0% |
Nexgen Energy (NXG) | $13.21 | +$0.43 | +3.4% | +15.6% | +31.8% |
Pro Medicus (PME) | $221.75 | +$7.13 | +3.3% | +19.1% | +149.0% |
ALS (ALQ) | $16.16 | +$0.5 | +3.2% | +15.3% | +31.8% |
Bellevue Gold (BGL) | $1.350 | +$0.04 | +3.1% | -17.7% | -7.5% |
Vault Minerals (VAU) | $0.345 | +$0.01 | +3.0% | -12.7% | +6.2% |
Credit Corp Group (CCP) | $18.01 | +$0.52 | +3.0% | +3.5% | +35.1% |
Karoon Energy (KAR) | $1.395 | +$0.04 | +3.0% | +0.4% | -34.2% |
James Hardie Industries (JHX) | $54.98 | +$1.5 | +2.8% | +8.9% | +13.0% |
Today’s best performing ASX stocks
There weren’t many losers today unless on a stock-specific basis you did something silly, like downgrade your FY25 earnings (Wisetech Global (-12.4%)) or reaffirm-but-not-upgrade them (Megaport (-9.5%)). The combination of these follies left the Information Technology (XIJ) (-4.5%) with the dubious honour of being the only major ASX sector to decline on this record setting day.
The only other sector or sub-sector that deserves a mention in the losers column is one which finds itself in this section of my Evening Wrap all to often – lithium. Nothing stock specific I could see here, but I do note that benchmark GFEX lithium carbonate futures are dipping again in China today. Pilbara Minerals was a notable sector laggard, losing nearly 7% of its value.
Lithium Carbonate Futures (Benchmark moneth, back-adjusted) GFEX
Company | Last Price | Change $ | Change % | 1mo % | 1yr % |
Wisetech Global (WTC) | $121.74 | -$17.19 | -12.4% | +22.5% | +82.9% |
Megaport (MP1) | $7.57 | -$0.79 | -9.5% | +8.6% | -27.8% |
Pilbara Minerals (PLS) | $2.61 | -$0.19 | -6.8% | -0.8% | -29.1% |
Audinate Group (AD8) | $8.47 | -$0.49 | -5.5% | -1.7% | -42.5% |
Appen (APX) | $2.09 | -$0.11 | -5.0% | +7.5% | +126.4% |
Nextdc (NXT) | $15.77 | -$0.6 | -3.7% | -2.7% | +23.2% |
Life360 (360) | $21.00 | -$0.71 | -3.3% | -2.8% | +165.2% |
Catapult International (CAT) | $3.39 | -$0.11 | -3.1% | +33.5% | +201.3% |
Liontown Resources (LTR) | $0.770 | -$0.02 | -2.5% | -7.8% | -49.3% |
Macquarie Technology (MAQ) | $86.74 | -$1.31 | -1.5% | +14.0% | +38.4% |
Dicker Data (DDR) | $8.37 | -$0.07 | -0.8% | -4.1% | -24.5% |
Nuix (NXL) | $6.10 | -$0.04 | -0.7% | -9.2% | +296.1% |
Mineral Resources (MIN) | $33.68 | -$0.16 | -0.5% | -6.2% | -48.8% |
Weebit Nano (WBT) | $2.91 | -$0.01 | -0.3% | +53.2% | -26.9% |
Xero (XRO) | $172.92 | -$0.51 | -0.3% | +18.2% | +70.8% |
IGO (IGO) | $4.95 | -$0.01 | -0.2% | -3.5% | -46.1% |
Siteminder (SDR) | $6.54 | -$0.01 | -0.2% | +0.8% | +35.7% |
Today’s worst performing ASX stocks
ChartWatch
Gold Futures (Front month, back-adjusted) COMEX
A credible bounce
The last time we covered gold was in ChartWatch in the Evening Wrap on 15 November 2024.
In that update, I noted that the long term uptrend ribbon appeared to be “doing its job so far, that is, helping prices to claw back from those lows for now”.
I proposed that only a strong demand-side candle would confirm the hold of the long term uptrend ribbon, and therefore restart the long term uptrend. That candle occurred in the form of 18 Nov’s long white candle with a high close.
From there, it has been a steady flow of modest demand-side candles – most importantly – taking out the potential impediment of the dynamic supply we’d ordinarily expect at the short term downtrend ribbon (✅).
You may remember my opinion on bounces. V-shaped bounces are those most likely to stick. This bounce is looking suitably V-shaped to me = ✅.
A bounce that sticks really should also close strongly at greater than the balance point of the decline (for me, this is the half-way point of the peak-to-trough move).
(2708.7 + 2541.5) / 2 = 2625.1. Yesterday’s close was 2674.9 – so ✅ on that item.
In conclusion, I submit that this is indeed a decent and credible bounce for gold. I can’t see anything in the technicals at this stage indicating it cannot continue.
I would, however, watch the candles very closely from here. For long-suffering readers of ChartWatch, you know exactly the fingerprints of excess supply to watch for: black-bodied candles and or upward pointing shadows – the longer – the greater the indication.
Watch particularly, the top of the major supply-side candle set on 6 Nov at 2758.8. It’s where the supply-side really took control last time – it’s possible there remains a degree of latent supply up there.
Really, given how many traders I expect got caught out by the US election result – arguably a surprise worst case scenario for gold – it would not surprise me to find a substantial amount of latent supply near the 2708.7 high.
I put to you there’s a wad of traders regretting getting stuck in the market at those highs, and who’ve been praying for gold to return there so they may undo their mistakes at break-even.
Demand is 2541.5-2572.5. A close below there is “kill the long term uptrend” kinda stuff…
The best looking chart in global uranium stocks just got better
Yesterday, I published and article covering recent developments, future aspirations, and detailed technical analysis of the Top 10 ASX and three of the world’s most influential uranium stocks. Add in a few local and international ETF’s. You can read the article here, or skip straight to the video containing the technical analysis here.
Hands down, the strongest uptrend was owned by Canada’s Cameco, the world’s second biggest uranium producer.
I note last night’s strong demand-side candle continued solid and well-established prevailing short and long term uptrends. These trends are complimented by rising peaks and rising troughs, as well as a clear predominance of demand-side candles. These are three great indicators of demand-side control.
So, while we’re on the subject of checking things…✅✅✅
How high can Cameco’s share price go. 🤔
You really are asking the wrong guy…because I wouldn’t have a clue.
I am a trend follower not a trend prognosticator.
I can see the trend. I can measure its strength using my methodology (which I have taught to you). But, alas, I cannot see the future.
So: 1. I don’t try to predict it. And 2. I don’t worry about it.
In my experience, if I follow the trend I have the highest probability of success. I know I won’t succeed every time. I know there will inevitably be even prolonged periods where my approach is at odds with the market.
I cop this.
Because I know that if I stick with my methodology, if I manage my risk meticulously (cut my losses quickly without fear of missing out or other emotional hang ups) – and ride my winners to their full conclusion – then over the long run I will come out in front.
Get the probability part of the equation right and the profitability part will take care of itself. The greatest probability lies with following the trend and believing and trying my hardest to ensure that no single investing outcome matters.
Cameco will go up as long as it goes up – of that we can both be sure. But I am also sure that when those fingerprints of excess supply do finally grip these prevailing uptrends, I’ll be ready to take action!
Economy
Today
AUS Flash Manufacturing Purchasing Managers Index (PMI) October
49.4 vs 47.3 in September (revised up from 46.6)
Readings below 50 indicate contraction in the sector, so the Australian manufacturing sector contracted slightly in October, but at a smaller rate than in September (which itself was not as bad as originally thought)
AUS Flash Services PMI October: 49.6 vs 51.0 in September (revised higher from 50.6)
Contrasting, the Australian services sector fell into contraction in October - reversing growth in September
Later this week
Friday
19:15 EUR Various countries Flash Manufacturing & Services PMIs October (Germany: Manufacturing forecast 43.1 vs 43.0 in September & Services 51.8 forecast vs 51.6 in September; Eurozone: Manufacturing forecast no change at 46.0 & Services forecast no change at 51.6)
Saturday
01:45 US Flash Manufacturing Purchasing Managers Index (PMI) October (was 47.3 in September) & Flash Services PMI October (was 51.0 in September)
Latest News
Markets bhp min
Australian shares are at record highs, here’s your 2025 playbook
Fri 22 Nov 24, 1:48pm (AEDT)
Midday Market Movers a2m eos
Stocks making the biggest moves at noon: A2 Milk, GQG Partners, Uranium Miners and more
Fri 22 Nov 24, 12:42pm (AEDT)
Quick Takes wtc
Wisetech shares tumble on FY25 earnings downgrade – But dip buyers step in to cushion selloff
Fri 22 Nov 24, 10:48am (AEDT)
Technical Analysis alq bc8
ChartWatch ASX Scans: ALS, Crypto Innovators ETF, Iperionx, Petratherm, A2 Milk, Iluka, Mineral Resources, Nick Scali, Bitcoin ETF
Fri 22 Nov 24, 9:00am (AEDT)
Market Wraps
Morning Wrap: ASX 200 to rise, S&P 500 hits one-week high + A2 Milk, Lovisa trading updates
Fri 22 Nov 24, 8:45am (AEDT)
Market Wraps amc ax1
Evening Wrap: ASX 200 dips on falling consumer stocks, but gold, insurance, banks and tech stocks show solid gains
Thu 21 Nov 24, 6:02pm (AEDT)
More News
Interesting Movers
Trading higher
+13.3% The A2 Milk Company (A2M) - FY25 revenue guidance and dividend policy and Annual Meeting Presentation
+9.4% Firefly Metals (FFM) - No news, rise is consistent with prevailing long term uptrend, closed back above short term trend ribbon (neutral but turning up) 🔎📈
+8.6% Kingsgate Consolidated (KCN) - No news, generally strong ASX gold sector on continued firming of gold price (see ChartWatch section above for technical analysis)
+7.2% Mayne Pharma Group (MYX) - No news, consistent with recent volatility following 8 Nov Mayne Pharma responds to media speculation
+7.0% Immutep (IMM) - Immutep AGM 2024 - CEO's Presentation
+6.6% Electro Optic Systems (EOS) - EM Solutions divestment - investor presentation and EOS announces divestment of EM Solutions for $144m
+6.5% Lotus Resources (LOT) - No news, global uranium stocks rallied overnight, led by Cameco (see ChartWatch section above for technical analysis), vs uranium price was down for fourth session in a row 🤔
+6.3% Deep Yellow (DYL) - No news, ditto stronger ASX uranium sector today
+5.9% Paladin Energy (PDN) - No news, ditto stronger ASX uranium sector today
+5.9% Superloop (SLC) - No news since yesterday's Resolution of Federal Court proceedings, rise is consistent with prevailing short and long term uptrends, a regular Feature in ChartWatch ASX Daily Scans Uptrends list 🔎📈
+5.8% Sovereign Metals (SVM) - Results of Meeting and possibly also yesterday's Initial Results for Use of Kasiya Graphite In Refractories, rise is consistent with prevailing short and long term uptrends, a regular Feature in ChartWatch ASX Daily Scans Uptrends list 🔎📈
+5.4% Vulcan Energy Resources (VUL) - Continued positive response to yesterday's Corporate Presentation Q4 2024 and Vulcan and BASF announce partnership agreement, rise is consistent with prevailing short and long term uptrends, a regular Feature in ChartWatch ASX Daily Scans Uptrends list 🔎📈
+5.4% Yancoal Australia (YAL) - Media reports company may be out of the race to purchase Anglo American’s Queensland coal assets, and therefore likely to reinstate its dividend
+5.4% Sigma Healthcare (SIG) - No news since 7 Nov Sigma welcomes the ACCC's decision, rise is consistent with prevailing short and long term uptrends, a regular Feature in ChartWatch ASX Daily Scans Uptrends list 🔎📈
+5.3% Pinnacle Investment Management Group (PNI) - Continued positive response to yesterday's Pinnacle successfully completes $400m placement, rise is consistent with prevailing short and long term uptrends, a regular Feature in ChartWatch ASX Daily Scans Uptrends list 🔎📈
+4.8% Iperionx (IPX) - Results of Meeting and possibly also 19 Nov IperionX 2024 Sustainability Report, rise is consistent with prevailing short and long term uptrends, a regular Feature in ChartWatch ASX Daily Scans Uptrends list 🔎📈
Trading lower
-12.4% Wisetech Global (WTC) - Update to FY25 Guidance and Update on Board Review
-9.5% Megaport (MP1) - AGM Addresses from the Chair and CEO
-6.8% Pilbara Minerals (PLS) - No news, generally weaker ASX lithium sector today on a resumption of falls in lithium minerals prices in China today, fall is consistent with prevailing short and long term downtrends, a regular Feature in ChartWatch ASX Daily Scans Downtrends list 🔎📈
-6.0% Cettire (CTT) - No news, fall is consistent with prevailing short and long term downtrends, a regular Feature in ChartWatch ASX Daily Scans Downtrends list 🔎📈
-5.5% Audinate Group (AD8) - No news, fall is consistent with prevailing short and long term downtrends, a regular Feature in ChartWatch ASX Daily Scans Downtrends list 🔎📈
-5.4% Latin Resources (LRS) - Tied to PLS via the all-scrip takeover in place
-3.8% Wildcat Resources (WC8) - No news, ditto weaker ASX lithium sector today, fall is consistent with prevailing short and long term downtrends, a regular Feature in ChartWatch ASX Daily Scans Downtrends list 🔎📈
Broker Notes
The A2 Milk Company (A2M)
Retained at buy at Citi; Price Target: $7.04
Upgraded to outperform from hold at CLSA; Price Target: $5.60
Abacus Group (ABG)
Retained at buy at Citi; Price Target: $1.35
Adairs (ADH)
Retained at buy at Bell Potter; Price Target: $2.85 from $2.50
AGL Energy (AGL)
Retained at neutral at Macquarie; Price Target: $11.40 from $11.28
Amcor (AMC)
Retained at hold at Citi; Price Target: $17.00
Retained at neutral at UBS; Price Target: $16.65
Accent Group (AX1)
Retained at buy at Bell Potter; Price Target: $2.80 from $2.50
Retained at buy at Citi; Price Target: $2.47 from $2.57
Retained at buy at Jarden; Price Target: $2.35 from $2.29
Retained at overweight at JP Morgan; Price Target: $2.50
Retained at overweight at Morgan Stanley; Price Target: $2.75
Retained at add at Morgans; Price Target: $2.40
Retained at buy at UBS; Price Target: $2.50 from $2.53
BHP Group (BHP)
Retained at overweight at Morgan Stanley; Price Target: $46.85
City Chic Collective (CCX)
Retained at hold at Bell Potter; Price Target: $0.14 from $0.16
CSL (CSL)
Retained at buy at Citi; Price Target: $345.00
Cettire (CTT)
Retained at hold at Bell Potter; Price Target: $1.45 from $2.00
Elders (ELD)
Retained at buy at Citi; Price Target: $9.75
Electro Optic Systems (EOS)
Retained at buy at Ord Minnett; Price Target: $2.00 from $2.80
Hansen Technologies (HSN)
Retained at buy at Goldman Sachs; Price Target: $5.10
Retained at buy at Shaw and Partners; Price Target: $7.20
Harvey Norman (HVN)
Retained at buy at Bell Potter; Price Target: $5.80
Ikegps Group (IKE)
Retained at buy at Bell Potter; Price Target: $0.94
JB HI-FI (JBH)
Retained at buy at Bell Potter; Price Target: $98.00 from $87.00
Kogan.Com (KGN)
Retained at hold at Bell Potter; Price Target: $5.20
Retained at sell at Citi; Price Target: $4.20
Lovisa (LOV)
Retained at hold at Bell Potter; Price Target: $31.00 from $33.00
Retained at sell at Citi; Price Target: $25.95
Mineral Resources (MIN)
Upgraded to neutral from sell at Citi; Price Target: $35.00
Megaport (MP1)
Retained at neutral at UBS; Price Target: $10.15
Medibank Private (MPL)
Retained at neutral at Macquarie; Price Target: $3.85
Maxiparts (MXI)
Retained at buy at Ord Minnett; Price Target: $2.60
NIB (NHF)
Retained at underperform at Macquarie; Price Target: $5.45
Propel Funeral Partners (PFP)
Retained at buy at Bell Potter; Price Target: $6.80
Paragon Care (PGC)
Downgraded to hold from buy at Bell Potter; Price Target: $0.52
Retained to buy from accumulate at Ord Minnett; Price Target: $0.54 from $0.46
Premier Investments (PMV)
Retained at buy at Bell Potter; Price Target: $38.00
Pinnacle Investment Management Group (PNI)
Retained at buy at Ord Minnett; Price Target: $26.00 from $23.00
PWR Holdings (PWH)
Retained at add at Morgans; Price Target: $9.20 from $11.00
Qantas Airways (QAN)
Retained at overweight at Morgan Stanley; Price Target: $10.50
Qube (QUB)
Retained at buy at Citi; Price Target: $4.45 from $4.40
Retail Food Group (RFG)
Retained at buy at Bell Potter; Price Target: $0.11
SKS Technologies Group (SKS)
Retained at add at Morgans; Price Target: $2.15 from $1.80
Solvar (SVR)
Retained at buy at Bell Potter; Price Target: $1.48 from $1.30
Retained at add at Morgans; Price Target: $1.45 from $1.38
Tasmea (TEA)
Retained at add at Morgans; Price Target: $3.60 from $2.25
Temple & Webster Group (TPW)
Retained at hold at Bell Potter; Price Target: $12.20
Universal Store (UNI)
Retained at buy at Bell Potter; Price Target: $8.85
WEB Travel Group (WEB)
Retained at buy at Goldman Sachs; Price Target: $6.70
Worley (WOR)
Retained at buy at Goldman Sachs; Price Target: $18.00
Wisetech Global (WTC)
Retained at buy at Citi; Price Target: $124.50
Retained at neutral at Macquarie; Price Target: $100.00
Xero (XRO)
Retained at buy at Citi; Price Target: $198.00
Scans
Top Gainers
Code | Company | Last | % Chg |
---|---|---|---|
EWC | Energy World Corp... | $0.023 | +43.75% |
DEV | DEVEX Resources Ltd | $0.145 | +31.82% |
BEL | Bentley Capital Ltd | $0.013 | +30.00% |
SP3 | Spectur Ltd | $0.019 | +26.67% |
RFT | Rectifier Technol... | $0.015 | +25.00% |
View all top gainers
Top Fallers
Code | Company | Last | % Chg |
---|---|---|---|
KP2 | Kore Potash Plc | $0.049 | -19.67% |
ERW | Errawarra Resourc... | $0.061 | -16.44% |
LYK | Lykos Metals Ltd | $0.016 | -15.79% |
PR2 | Piche Resources Ltd | $0.12 | -14.29% |
TMS | Tennant Minerals Ltd | $0.012 | -14.29% |
View all top fallers
52 Week Highs
Code | Company | Last | % Chg |
---|---|---|---|
WLD | Wellard Ltd | $0.08 | +9.59% |
PHX | Pharmx Technologi... | $0.069 | +6.15% |
SLC | Superloop Ltd | $2.14 | +5.94% |
PTR | Petratherm Ltd | $0.19 | +5.56% |
VUL | Vulcan Energy Res... | $7.01 | +5.41% |
View all 52 week highs
52 Week Lows
Code | Company | Last | % Chg |
---|---|---|---|
LYK | Lykos Metals Ltd | $0.016 | -15.79% |
TMS | Tennant Minerals Ltd | $0.012 | -14.29% |
JLL | Jindalee Lithium Ltd | $0.23 | -13.21% |
3PL | 3P Learning Ltd | $0.75 | -11.77% |
RAU | Resouro Strategic... | $0.205 | -10.87% |
View all 52 week lows
Near Highs
Code | Company | Last | % Chg |
---|---|---|---|
AN3PI | Australia and New... | $104.49 | +0.31% |
PCI | Perpetual Credit ... | $1.155 | -3.35% |
WVOL | Ishares MSCI Worl... | $41.88 | +0.96% |
IPX | Iperionx Ltd | $4.40 | +4.76% |
GCI | Gryphon Capital I... | $2.04 | +0.49% |
View all near highs
Relative Strength Index (RSI) Oversold
Code | Company | Last | % Chg |
---|---|---|---|
WLE | Wam Leaders Ltd | $1.235 | -0.80% |
RSG | Resolute Mining Ltd | $0.405 | +0.62% |
NDO | Nido Education Ltd | $0.725 | +0.69% |
LYC | Lynas Rare EARTHS... | $6.80 | -1.02% |
DUG | DUG Technology Ltd | $1.505 | -3.53% |
View all RSI oversold
Welcome to my ChartWatch Daily ASX Scans series. Here I present scan lists based on my trend following technical analysis methodology. My goal is to alert you to the best uptrends and downtrends on the ASX.
Uptrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
ALS | ALQ | $15.66 | +11.6% | +25.3% |
Black Cat Syndicate | BC8 | $0.610 | -5.4% | +117.9% |
BetaShares Crypto Innovators ETF | CRYP | $8.22 | +42.0% | +170.4% |
De Grey Mining | DEG | $1.520 | +4.1% | +30.2% |
Embark Early Education | EVO | $0.810 | +1.3% | +19.1% |
GR Engineering | GNG | $2.20 | +7.3% | -3.1% |
Hub24 | HUB | $73.56 | +9.3% | +114.4% |
Iperionx | IPX | $4.20 | +33.3% | +180.0% |
Vaneck Australian Banks ETF | MVB | $41.16 | +5.7% | +42.0% |
Paragon Care | PGC | $0.500 | +14.9% | +177.8% |
Petratherm | PTR | $0.180 | +233.3% | +176.9% |
Qantas Airways | QAN | $8.95 | +14.5% | +68.9% |
Seek | SEK | $27.11 | +7.7% | +15.4% |
Ricegrowers | SGLLV | $9.85 | +6.8% | +62.8% |
Sigma Healthcare | SIG | $2.42 | +30.1% | +256.0% |
Silex Systems | SLX | $6.09 | +18.5% | +79.1% |
Smart Parking | SPZ | $0.950 | +61.0% | +167.6% |
Technology One | TNE | $29.72 | +21.6% | +81.5% |
Vaneck Bitcoin ETF | VBTC | $30.60 | +49.6% | 0% |
Vulcan Energy | VUL | $6.65 | +39.4% | +174.8% |
Westpac Bank | WBC | $33.54 | +4.7% | +58.9% |
Today's Uptrends Scan List
Feature Charts from today's Uptrends List 🔎📈
The stocks that I feel are showing the strongest excess demand from today's Uptrends List are: ALS , BetaShares Crypto Innovators ETF , Hub24 , Iperionx , Paragon Care , Petratherm P, Smart Parking , Vaneck Bitcoin ETF .
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
The A2 Milk Company | A2M | $4.81 | -18.9% | +17.0% |
Bapcor | BAP | $4.52 | -5.6% | -18.7% |
Brickworks | BKW | $26.00 | -5.7% | -0.8% |
Boss Energy | BOE | $2.96 | -17.8% | -28.7% |
BWP Trust | BWP | $3.39 | -3.7% | -2.6% |
Challenger | CGF | $6.08 | +1.2% | +5.2% |
Chalice Mining | CHN | $1.360 | -28.8% | -14.5% |
Cromwell Property | CMW | $0.385 | -10.5% | -9.4% |
Centuria Office Reit | COF | $1.175 | -3.3% | -5.6% |
Charter Hall Retail Reit | CQR | $3.35 | -3.5% | +2.1% |
Coronado Global Resources | CRN | $0.920 | -12.4% | -43.0% |
Clinuvel Pharmaceuticals | CUV | $13.16 | -5.7% | -19.6% |
Dicker Data | DDR | $8.44 | -4.7% | -24.4% |
Droneshield | DRO | $0.725 | -25.3% | +137.7% |
Deterra Royalties | DRR | $3.64 | -4.0% | -28.1% |
Dexus Industria Reit. | DXI | $2.66 | -4.0% | +0.4% |
Deep Yellow | DYL | $1.190 | -16.5% | +9.2% |
Endeavour Group | EDV | $4.28 | -10.1% | -13.0% |
Elders | ELD | $7.50 | -11.7% | +3.5% |
Graincorp | GNC | $7.96 | -12.7% | +5.6% |
Healthco Health & Wellness Reit | HCW | $1.095 | -5.6% | -24.0% |
Iluka Resources | ILU | $5.36 | -10.7% | -26.8% |
Immutep | IMM | $0.285 | -5.0% | -2.5% |
Karoon Energy | KAR | $1.355 | -2.5% | -36.1% |
Kelsian Group | KLS | $3.74 | -9.2% | -41.8% |
Lifestyle Communities | LIC | $8.64 | -2.2% | -50.6% |
Lendlease Group | LLC | $6.59 | -3.8% | -2.4% |
Lotus Resources | LOT | $0.230 | -27.0% | -6.1% |
Lovisa | LOV | $26.82 | -10.2% | +46.6% |
Mineral Resources | MIN | $33.84 | -6.0% | -47.1% |
McMillan Shakespeare | MMS | $14.94 | -3.7% | -14.9% |
Monash IVF Group | MVF | $1.130 | -6.6% | -12.4% |
Nick Scali | NCK | $13.54 | -5.3% | +16.7% |
NIB | NHF | $5.57 | -6.4% | -26.0% |
Patriot Battery Metals | PMT | $0.250 | -36.7% | -77.0% |
Polynovo | PNV | $1.990 | -8.3% | +42.1% |
Pexa Group | PXA | $12.32 | -12.2% | +7.4% |
Reece | REH | $23.72 | -10.7% | +20.8% |
Rural Funds Group | RFF | $1.880 | -2.1% | +1.3% |
Super Retail Group | SUL | $14.34 | -14.4% | +8.2% |
Wildcat Resources | WC8 | $0.265 | -26.4% | -68.6% |
Today's Downtrends Scan List
Feature Charts from today's Downtrends List 🔎📉
The stocks that I feel are showing the strongest excess supply from today's Downtrends List are: The A2 Milk Company , Bapcor , Coronado Global Resources , Clinuvel Pharmaceuticals , Dicker Data , Droneshield , Endeavour Group , Elders , Healthco Healthcare and Wellness Reit H, Iluka Resources , Kelsian Group K, Mineral Resources , Nick Scali N, NIB , Patriot Battery Metals , Pexa Group , Reece , Super Retail Group .
Charts of each below:
ChartWatch Primer
For a detailed explanation of Carl's technical analysis methodology, be sure to check out this ChartWatch Primer.
Important considerations when using the ChartWatch Daily ASX Scans:
1. The future is unknown. Anything can happen to change the trends in the lists above. A stock in a perfect uptrend or downtrend may not remain that way by the close of trading today. 2. These lists are not exhaustive, they are curated by Carl. You will find that certain stocks might not appear in a particular list on consecutive days but might reappear when Carl feels it deserves to return to the list. 3. This is not a recommendation service, merely an aid to help you better understand the workings of Carl’s technical analysis model in a practical way. Carl will not alert you to stocks that have dropped off a list because their trend has changed – it is up to you to apply the criteria to determine why a particular stock might not still be included. 4. This is general, educational information only – always do your own research.
The S&P/ASX 200 closed 3.3 points lower, down 0.04%.
All things considered, "neither here nor there" is probably the best way to describe what was ultimately a rather lacklustre day’s trade for Aussie stocks.
Still, there was plenty of interesting stuff for investors who know where to look – and that's why this Evening Wrap exists!
Click/scroll through for the usual reporting of the major sector and stock-specific moves, the broker responses to them, as well as all of the key upcoming economic data in tonight's Evening Wrap.
Also, I have detailed technical analysis on the S&P/ASX 200 and Bitcoin in today's ChartWatch.
Let's dive in!
Today in Review
Thu 21 Nov 24, 5:10pm (AEDT)
Name | Value | % Chg |
---|---|---|
Major Indices | ||
ASX 200 | 8,323.0 | -0.04% |
All Ords | 8,567.0 | -0.14% |
Small Ords | 3,116.4 | -0.36% |
All Tech | 3,880.2 | +0.04% |
Emerging Companies | 2,259.6 | -0.80% |
Currency | ||
AUD/USD | 0.6512 | +0.09% |
US Futures | ||
S&P 500 | 5,925.0 | -0.21% |
Dow Jones | 43,511.0 | -0.01% |
Nasdaq | 20,675.0 | -0.36% |
Name | Value | % Chg |
---|---|---|
Sector | ||
Financials | 8,956.6 | +0.31% |
Communication Services | 1,671.1 | +0.18% |
Information Technology | 2,908.7 | +0.12% |
Energy | 8,680.2 | +0.09% |
Materials | 16,647.4 | -0.03% |
Industrials | 7,572.4 | -0.04% |
Utilities | 8,958.2 | -0.19% |
Health Care | 43,767.7 | -0.32% |
Real Estate | 3,927.6 | -0.51% |
Consumer Staples | 11,443.7 | -0.68% |
Consumer Discretionary | 3,844.0 | -0.82% |
Markets
ASX 200 Session Chart
The S&P/ASX 200 (XJO) finished 3 points higher at 8,323, 0.48% from its session high and just 0.21% from its low. In the broader-based S&P/ASX 300 (XKO), advancers lagged decliners by a soggy 105 to 172.
The Gold (XGD) (+1.3%) sub-index made it three in a row in terms of the performing ASX sector today. The gold price continued to firm, albeit modestly overnight and into Asian trade today.
There was daylight between Gold and the next best performing sector, Financials (XFJ) (+0.31%). Big banks and insurance companies continue to perform strongly here and continue to offer some of the strongest trends on the market.
Next, there were a few sectors that just snuck in a gain. Thematically, these were tech-focussed Communication Services (XTJ) (+0.18%) and Information Technology (XIJ) (+0.12%) sectors, and also the commodities-based Energy (XEJ) (+0.09%) and Resources (XJR) (+0.04%) sectors.
Company | Last Price | Change $ | Change % | 1mo % | 1yr % |
Vulcan Energy Resources (VUL) | $6.65 | +$0.43 | +6.9% | +39.4% | +174.8% |
WA1 Resources (WA1) | $15.51 | +$0.99 | +6.8% | +17.9% | +66.2% |
Iperionx (IPX) | $4.20 | +$0.16 | +4.0% | +33.3% | +180.0% |
Catalyst Metals (CYL) | $3.06 | +$0.11 | +3.7% | -13.3% | +277.8% |
Gold Road Resources (GOR) | $1.895 | +$0.06 | +3.3% | -4.1% | +5.6% |
Pinnacle Investment Management Group (PNI) | $22.12 | +$0.68 | +3.2% | +15.3% | +144.2% |
Champion Iron (CIA) | $5.49 | +$0.16 | +3.0% | -10.1% | -29.8% |
Northern Star Resources (NST) | $17.56 | +$0.49 | +2.9% | +0.7% | +53.2% |
De Grey Mining (DEG) | $1.520 | +$0.035 | +2.4% | +4.1% | +30.2% |
Emerald Resources (EMR) | $3.67 | +$0.08 | +2.2% | -16.4% | +43.9% |
Seek (SEK) | $27.11 | +$0.57 | +2.1% | +7.7% | +15.4% |
Fortescue (FMG) | $18.11 | +$0.36 | +2.0% | -8.4% | -28.4% |
Nine Entertainment (NEC) | $1.270 | +$0.025 | +2.0% | +3.3% | -34.5% |
Ramelius Resources (RMS) | $2.08 | +$0.04 | +2.0% | -15.1% | +35.9% |
QBE Insurance Group (QBE) | $19.60 | +$0.34 | +1.8% | +14.7% | +32.0% |
Hub24 (HUB) | $73.56 | +$1.2 | +1.7% | +9.3% | +114.4% |
Capricorn Metals (CMM) | $6.54 | +$0.1 | +1.6% | -0.2% | +47.6% |
Westpac Banking Corporation (WBC) | $33.54 | +$0.51 | +1.5% | +4.7% | +58.9% |
Evolution Mining (EVN) | $5.02 | +$0.07 | +1.4% | -6.5% | +33.9% |
Technology One (TNE) | $29.72 | +$0.36 | +1.2% | +21.6% | +81.5% |
Today’s strongest stocks from the strongest ASX sectors
All things considered, "neither here nor there" is probably the best way to describe what was ultimately a rather lacklustre day’s trade for Aussie stocks.
Where there were losses, they were fortunately only moderate, with really only consumer stocks firmly on the back foot. Consumer Staples (XSJ) (-0.68%) were dragged down by another poor performance from struggling Endeavour Group (-2.3%). Endeavour has the ignominious honour of being one of the most Featured charts this year in my ChartWatch Daily ASX Scans Downtrends lists.
Consumer Discretionary (XDJ) (-0.82%) suffered at the hands of poor performances from Accent Group A (-11.1%) and WEB Travel Group (-4.2%). Accent's decline was due to a disappointing trading update, while WEB was reinstatement to official quotation after warning the market its first half results release would be delayed.
Company | Last Price | Change $ | Change % | 1mo % | 1yr % |
Accent Group (AX1) | $2.25 | -$0.28 | -11.1% | -5.1% | +27.1% |
Neuren Pharmaceuticals (NEU) | $12.43 | -$1.26 | -9.2% | -2.7% | -14.0% |
Mesoblast (MSB) | $1.485 | -$0.09 | -5.7% | +8.8% | +335.1% |
Opthea (OPT) | $0.625 | -$0.035 | -5.3% | -25.2% | +108.8% |
Pexa Group (PXA) | $12.32 | -$0.63 | -4.9% | -12.2% | +7.4% |
WEB Travel Group (WEB) | $4.31 | -$0.19 | -4.2% | +2.6% | -24.3% |
IDP Education (IEL) | $12.63 | -$0.55 | -4.2% | -7.1% | -46.0% |
Telix Pharmaceuticals (TLX) | $22.20 | -$0.76 | -3.3% | +5.2% | +136.4% |
Healthco Healthcare and Wellness Reit (HCW) | $1.095 | -$0.035 | -3.1% | -5.6% | -24.0% |
Temple & Webster Group (TPW) | $11.51 | -$0.32 | -2.7% | -7.0% | +74.4% |
Endeavour Group (EDV) | $4.28 | -$0.1 | -2.3% | -10.1% | -13.0% |
Nick Scali (NCK) | $13.54 | -$0.3 | -2.2% | -5.3% | +16.7% |
Lendlease Group (LLC) | $6.59 | -$0.14 | -2.1% | -3.8% | -2.4% |
Integral Diagnostics (IDX) | $2.90 | -$0.06 | -2.0% | -6.8% | +67.6% |
Polynovo (PNV) | $1.990 | -$0.04 | -2.0% | -8.3% | +42.1% |
Growthpoint Properties Australia (GOZ) | $2.49 | -$0.05 | -2.0% | -6.7% | +7.8% |
Premier Investments (PMV) | $33.61 | -$0.66 | -1.9% | +6.8% | +38.3% |
Healius (HLS) | $1.315 | -$0.025 | -1.9% | -22.2% | -25.2% |
ARB Corporation (ARB) | $40.88 | -$0.77 | -1.8% | -3.1% | +26.0% |
Tabcorp (TAH) | $0.545 | -$0.01 | -1.8% | +16.0% | -28.3% |
Today’s weakest stocks from the weakest ASX sectors
ChartWatch
S&P/ASX 200 (XJO)
Nothing goes up in a straight line!
The last time we covered was in ChartWatch in the Evening Wrap on 19 November.
In that update, we noted all was not quite right with that day’s tickle of a new all time high. The giveaway was the long upward pointing shadow in that session’s candle.
Upward pointing shadows point to excess supply in the market. If that supply was there in that session, it might well be there in the next. Also consider that technical analysts like me who know what to look for, see those upward pointing shadows and therefore become more reluctant to buy into the market at higher prices. That is, some of the market will withhold demand.
So, in an environment of latent supply and withheld demand at those higher prices – it can be tough for the market to crack the high set by the upward pointing shadow.
Looking at the couple of candles since, I think this is what we’re seeing.
The bigger the upward pointing shadow, the likely bigger the impact it will have on the market. So, in this case I suggest it’s more likely to be a short term impediment rather than something more sinister.
It may take a few sessions to work through the present malaise. Watch for demand-side candles (i.e., white-bodied and or downward pointing shadows) to kick off the trend again. In particular, watch for them at the short term uptrend ribbon which typically acts as a zone of dynamic demand. It’s starts around 8260.
I’d prefer not to see a close below the short term trend ribbon, that’s when I would begin to think something more sinister is going on. Definitely, I don’t want to see the XJO price close below the critical point of demand at 8063.
Until either of those events, I have no reason not to back the prevailing short and long term trends here.
Bitcoin vs US Dollar (BTCUSD)
Going up in a straight line! 😁
The last time we covered Bitcoin was in ChartWatch in the Evening Wrap on 6 November.
In that update, it had just logged a major fingerprint of excess demand – a long white candle with a high close. Even better/more importantly, that close also took the Bitcoin price above the major historical point of supply from the March peak.
I noted “both the daily and weekly charts of Bitcoin show strong and increasing demand-side control” and used a technical analysis method called a “measured move” to project a potential finger-to-the-wind target of 98,059.
Not terrible analysis at all. 🎯
Bitcoin looks like it’s on a mission here to knock 6 figures. I can’t see anything in the technicals to suggest there’s even close to enough supply-side impetus – nor lack of demand-side commitment – to prevent it from getting there.
As always, you’ll know when this market state changes. You’ll begin to see black-bodied candles and or upward pointing shadows. The longer the bodies/shadows, the greater is the amount of excess supply manifesting itself. Also watch out for falling peaks and or falling troughs.
Until then, you’re either on the rocket ship headed to the moon, or you’re standing on the ground gazing up at that rocket ship and scratching your head as to how you missed this whole Bitcoin phenomenon. 😭
If you’re in the latter camp, it could be worse, you could be the guy who paid for 2 pizzas back in 2010 for 10,000 Bitcoin (now worth US$968 million)! 🍕🚀
Economy
Today
There weren't any major data releases in our time zone today
Later this week
Friday
09:00 AUS Flash Manufacturing Purchasing Managers Index (PMI) October (was 47.3 in September) & Flash Services PMI October (was 51.0 in September)
19:15 EUR Various countries Flash Manufacturing & Services PMIs October (Germany: Manufacturing forecast 43.1 vs 43.0 in September & Services 51.8 forecast vs 51.6 in September; Eurozone: Manufacturing forecast no change at 46.0 & Services forecast no change at 51.6)
Saturday
01:45 US Flash Manufacturing Purchasing Managers Index (PMI) October (was 47.3 in September) & Flash Services PMI October (was 51.0 in September)
Latest News
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Market Wraps
Morning Wrap: ASX 200 to rise, Nvidia beats Q3 earnings expectations, Symal IPO at noon
Thu 21 Nov 24, 8:33am (AEDT)
More News
Interesting Movers
Trading higher
+11.8% PWR Holdings (PWH) - Bounce from massive falling due to yesterday's PWR Trading Update, helped by 3 x broker rating upgrades to BUY (see Broker Moves section below)
+6.9% Vulcan Energy Resources (VUL) - No news since yesterday's Vulcan and BASF announce partnership agreement and Corporate Presentation Q4 2024, rise is consistent with prevailing short and long term uptrends, is one of the most Featured charts in ChartWatch ASX Daily Scans Uptrends lists over the last couple of months 🔎📈
+6.8% WA1 Resources (WA1) - No news since 19 Nov Annual General Meeting Presentation and 15 Nov West Arunta Project - Luni Drilling Update, has strung together some decent demand-side candles to get itself back above the long term trend ribbon
+4.3% Sigma Healthcare (SIG) - No news, rise is consistent with prevailing short and long term uptrends, another heavily Featured chart in ChartWatch ASX Daily Scans Uptrends lists 🔎📈
+4.0% Iperionx (IPX) - No news since Nov 19 IperionX 2024 Sustainability Report, rise is consistent with prevailing short and long term uptrends, another heavily Featured chart in ChartWatch ASX Daily Scans Uptrends lists 🔎📈
+3.3% Amcor (AMC) - Positive response to yesterday's Amcor & Berry Announcement, generally well accepted by the brokers facilitating one rating upgrade today (see Broker Moves section below)
+3.3% Gold Road Resources (GOR) - No news, generally stronger ASX gold sector today on continued firming of the gold price
+3.2% Pinnacle Investment Management Group (PNI) - Continued positive response to yesterday's Pinnacle successfully completes $400m placement, rise is consistent with prevailing short and long term uptrends, again, this is one of the most Featured charts in ChartWatch ASX Daily Scans Uptrends lists 🔎📈
+2.9% Northern Star Resources (NST) - Ditto stronger ASX gold sector today
Trading lower
-19.3% GQG Partners (GQG) - Update on GQG's Strategy Investments in Adani Gp Companies
-14.0% Close The Loop (CLG) - No news today, volatility likely due to non-binding proposal to acquire 100% of the company via a Scheme of Arrangement from private equity funds manager Adamantem Capital for A$0.27/shr. See Chair's Address to Shareholders and Receipt of indicative, non-binding & conditional proposal
-12.8% Weebit Nano (WBT) - No news, consistent with recent extreme volatility, possibly an element of Trump Trade vs Trump Trade unwind…
-11.1% Accent Group (AX1) - Trading Update and 2024 AGM Presentation
-10.5% Sayona Mining (SYA) - No news, takeover partner PLL also sharply lower today, note though, both stocks upgraded to NEUTRAL by Macquarie (see Broker Moves section below)
-9.4% Electro Optic Systems (EOS) - No news, fall is consistent with prevailing short term downtrend, long term trend is transitioning from up to down 🔎📉
-9.2% Neuren Pharmaceuticals (NEU) - No news, consistent with recent extreme volatility, possibly an element of Trump Trade vs Trump Trade unwind…
-7.5% Imugene (IMU) - No news, fall is consistent with prevailing short and long term downtrends, is one of the most Featured charts in ChartWatch ASX Daily Scans Downtrends lists 🔎📉
Broker Notes
Amcor (AMC)
Retained at neutral at Citi; Price Target: $17.00
Retained at hold at Morgans; Price Target: $15.75
Upgraded to hold from lighten at Ord Minnett; Price Target: $15.50 from $14.10
Accent Group (AX1)
Retained at buy at Citi; Price Target: $2.57
Bellevue Gold (BGL)
Retained at buy at UBS; Price Target: $1.65
BHP Group (BHP)
Retained at overweight at Morgan Stanley; Price Target: $46.85
Bluescope Steel (BSL)
Retained at neutral at Jarden; Price Target: $21.90
Cochlear (COH)
Retained at neutral at Citi; Price Target: $305.00
De Grey Mining (DEG)
Retained at buy at UBS; Price Target: $2.20
DGL Group (DGL)
Retained at hold at Bell Potter; Price Target: $0.53 from $0.55
Elders (ELD)
Retained at add at Morgans; Price Target: $9.52 from $9.50
EML Payments (EML)
Upgraded to overweight from neutral at Jarden; Price Target: $1.00 from $0.85
Evolution Mining (EVN)
Retained at neutral at UBS; Price Target: $5.25
Fisher & Paykel Healthcare Corporation (FPH)
Retained at outperform at Macquarie; Price Target: NZ$41.80 from NZ$39.20
Genesis Minerals (GMD)
Retained at buy at UBS; Price Target: $2.80
Gold Road Resources (GOR)
Retained at buy at UBS; Price Target: $2.30
Harvey Norman (HVN)
Retained at sell at Goldman Sachs; Price Target: $4.00
Iperionx (IPX)
Retained at buy at Bell Potter; Price Target: $5.25 from $3.95
JB HI-FI (JBH)
Retained at sell at Goldman Sachs; Price Target: $66.90
Laramide Resources (LAM)
Retained at buy at Canaccord Genuity; Price Target: $1.30
LGI (LGI)
Retained at buy at Bell Potter; Price Target: $3.55 from $3.40
Retained at buy at Shaw and Partners; Price Target: $3.60
Metcash (MTS)
Retained at sell at Goldman Sachs; Price Target: $3.10
Nick Scali (NCK)
Retained at buy at Citi; Price Target: $15.31 from $15.93
Newmont Corporation (NEM)
Retained at neutral at UBS; Price Target: $82.00
Nickel Industries (NIC)
Retained at buy at Citi; Price Target: $1.05
Northern Star Resources (NST)
Retained at buy at UBS; Price Target: $18.95
Netwealth Group (NWL)
Retained at hold at Bell Potter; Price Target: $27.80 from $26.00
Retained at neutral at Citi; Price Target: $27.00
Nexgen Energy (NXG)
Retained at buy at Shaw and Partners; Price Target: $16.20
Piedmont Lithium (PLL)
Upgraded to neutral from underperform at Macquarie; Price Target: $0.21 from $0.11
Pilbara Minerals (PLS)
Retained at neutral at Citi; Price Target: $2.90
Pinnacle Investment Management Group (PNI)
Retained at neutral at UBS; Price Target: $21.40 from $19.30
Perseus Mining (PRU)
Retained at buy at UBS; Price Target: $3.10
PWR Holdings (PWH)
Upgraded to buy from hold at Bell Potter; Price Target: $8.00 from $9.75
Upgraded to buy from hold at Carter Bar Securities; Price Target: $8.53 from $9.70
Upgraded to buy from neutral at Citi; Price Target: $9.45 from $10.85
Retained at positive at E&P; Price Target: $8.74 from $11.43
Retained at neutral at UBS; Price Target: $7.50 from $10.80
QBE Insurance Group (QBE)
Retained at hold at Ord Minnett; Price Target: $21.00 from $19.00
Regis Resources (RRL)
Retained at sell at UBS; Price Target: $1.95
Seek (SEK)
Retained at overweight at Morgan Stanley; Price Target: $30.00
Sonic Healthcare (SHL)
Retained at neutral at Jarden; Price Target: $28.06 from $25.88
Retained at lighten at Ord Minnett; Price Target: $23.85 from $23.50
SRG Global (SRG)
Retained at buy at Shaw and Partners; Price Target: $1.40
SSR Mining (SSR)
Retained at buy at UBS; Price Target: $9.90
Santos (STO)
Upgraded to buy from hold at Morgans; Price Target: $7.40 from $7.90
Retained at buy at Ord Minnett; Price Target: $8.40 from $8.50
Super Retail Group (SUL)
Retained at buy at Goldman Sachs; Price Target: $17.60
Sayona Mining (SYA)
Upgraded to neutral from underperform at Macquarie; Price Target: $0.04 from $0.02
Tasmea (TEA)
Downgraded to hold from buy at Shaw and Partners; Price Target: $2.50
Wesfarmers (WES)
Retained at neutral at Goldman Sachs; Price Target: $69.50 from $66.60
Wisetech Global (WTC)
Retained at buy at Citi; Price Target: $124.50
Scans
Top Gainers
Code | Company | Last | % Chg |
---|---|---|---|
IFG | Infocus Group Hol... | $0.04 | +166.67% |
FNR | Far Northern Reso... | $0.18 | +71.43% |
T3D | 333D Ltd | $0.011 | +57.14% |
PTR | Petratherm Ltd | $0.18 | +56.52% |
NYM | Narryer Metals Ltd | $0.04 | +29.03% |
View all top gainers
Top Fallers
Code | Company | Last | % Chg |
---|---|---|---|
AON | Apollo Minerals Ltd | $0.014 | -22.22% |
JLL | Jindalee Lithium Ltd | $0.265 | -20.90% |
RDG | Resource Developm... | $0.012 | -20.00% |
NXD | Nexted Group Ltd | $0.125 | -19.36% |
GQG | GQG Partners Inc | $2.13 | -19.32% |
View all top fallers
52 Week Highs
Code | Company | Last | % Chg |
---|---|---|---|
PTR | Petratherm Ltd | $0.18 | +56.52% |
PHX | Pharmx Technologi... | $0.065 | +14.04% |
SKS | SKS Technologies ... | $1.97 | +13.87% |
VR1 | Vection Technolog... | $0.035 | +12.90% |
PGC | Paragon Care Ltd | $0.50 | +11.11% |
View all 52 week highs
52 Week Lows
Code | Company | Last | % Chg |
---|---|---|---|
AON | Apollo Minerals Ltd | $0.014 | -22.22% |
RDG | Resource Developm... | $0.012 | -20.00% |
ADX | ADX Energy Ltd | $0.05 | -16.67% |
SP3 | Spectur Ltd | $0.015 | -16.67% |
WC1 | West Cobar Metals... | $0.015 | -16.67% |
View all 52 week lows
Near Highs
Code | Company | Last | % Chg |
---|---|---|---|
AN3PI | Australia and New... | $104.17 | -0.32% |
PCI | Perpetual Credit ... | $1.195 | +3.02% |
WVOL | Ishares MSCI Worl... | $41.48 | +0.48% |
IPX | Iperionx Ltd | $4.20 | +3.96% |
GCI | Gryphon Capital I... | $2.03 | 0.00% |
View all near highs
Relative Strength Index (RSI) Oversold
Code | Company | Last | % Chg |
---|---|---|---|
WLE | Wam Leaders Ltd | $1.245 | -0.40% |
RSG | Resolute Mining Ltd | $0.405 | -5.81% |
NDO | Nido Education Ltd | $0.725 | -4.61% |
LYC | Lynas Rare EARTHS... | $6.87 | -1.58% |
DUG | DUG Technology Ltd | $1.56 | -2.80% |
View all RSI oversold
The stock market has surged since Trump's election win, driven by the prospect of tax cuts and deregulation.
Some trades have been more obvious than others, with bitcoin and Tesla stock rallying.
Yet, some under-the-radar names are also up on the prospect Trump's proposals provide a boost.
The stock market has surged since Donald Trump's election win this month, with the major index averages initially popping about 4% on the prospects of lower tax rates, deregulation, and a boom in corporate mergers.
Trump's campaign promises have boosted everything from bitcoin to the US dollar to Tesla stock. But some under-the-radar stocks have also seen big gains since Election Day, driven by everything from a changing media landscape to the views of President-elect Trump's cabinet picks.
From private prisons to student loan companies, here are 10 under-the-radar stocks that have jumped since Trump's election win.
Fox Corporation
Ticker: FOX/FOXA
Market valuation: $20.3 billion
Gain since Election Day: 8%
Fox Corporation owns the media properties including Fox News, which has enjoyed strong ratings since Trump's election win. Fox News has seen viewership soar in the weeks following the election, while competitors CNN and MSNBC have sharp declines in viewers.
Fannie Mae and Freddie Mac
Ticker: FNMA and FMCC
Market valuation: $3.9 billion and $2.1 billion
Gain since Election Day: 132% and 152%
The preferred shares of the government-sponsored mortgage finance giants Fannie Mae and Freddie Mac have jumped sharply since Trump's win.
That's because investors are betting that his second term will result in the long-await privatization of the firms after a decade and a half of government control following the 2008 financial crisis. While the effort stalled in Trump's first four years in office, mortgage market players are hopeful that this time may bring the so-called "recap and release" of the government-sponsored enterprises.
Henry Schein
Ticker: HSIC
Market valuation: $9.2 billion
Gain since Election Day: 2%
While dental supply company Henry Schein is up only 2% since the election, it's up 11% since Trump named Robert F. Kennedy Jr. as his pick to lead the Human Health and Services Department. RFK Jr. has said he would advise municipalities to remove fluoride from water supplies.
Public health officials say the widespread use of fluoride in the US water supply helps prevent tooth decay. Investors, therefore, are likely betting that a push to remove the mineral from drinking water could lead to increased cavities and a higher need for dental health services, helping boost Henry Schein's business.
Sallie Mae
Ticker: SLM
Market valuation: $5.1 billion
Gain since Election Day: 12%
Sallie Mae is an administrator of student loans. Investors are likely betting that President Biden's student loan forgiveness plans will end shortly after Trump's inauguration in January.
According to data from the Department of Education, Biden's Administration was able to forgive $166.5 billion worth of student loans even as legal challenges derailed the President's plan for across-the-boar cancellation. That weighed on shares of student loan servicers over the last four years, and investors are laying bets that their fortunes are about to change.
Geo Group and CoreCivic
Ticker: GEO and CXW
Market valuation: $3.9 billion and $2.4 billion
Gain since Election Day: 95% and 62%
Geo Group and CoreCivic operate private correctional and detention facilities. Those facilities could be used more by the federal government if President-elect Trump follows through with plans to deport millions of immigrants, who would have to be detained before they are returned to their country of origin.
Cameco
Ticker: CCJ
Market valuation: $34.6 billion
Gain since Election Day: 16%
Cameco mines and distributes uranium for nuclear power plants. Nuclear power generation has already seen something of a renaissance amid the AI boom, and the energy source could boom more under Trump.
The President-elect's pick for Energy Secretary, Chris Wright, has previously made comments supporting nuclear power, stating shortly before the election that the US should increase nuclear's share of overall power generation from 4% to 10%.
Wright also serves on the board of Oklo, a nuclear power company backed by OpenAI founder Sam Altman.
Grand Canyon Education
Ticker: LOPE
Market valuation: $4.7 billion
Gain since Election Day: 17%
With President-elect Trump eyeing big changes to the Department of Education, for-profit institutions may stand to benefit in his second term.
"Specifically, the for-profit college stocks could see the risk of revised gainful-employment rules removed," BMO analyst Jeffrey Silber wrote in a note shortly after the election.
That rule requires for-profit schools to prove that their degrees come with adequate employment benefits for graduates.
Grand Canyon Education has been under particular scrutiny during Biden's term. The Federal Trade Commission sued the company in 2023 for deceptive practices related to costs and marketing itself as a non-profit.
Regional bank stocks
Ticker: KRE ETF
Gain since Election Day: 11%
Regional bank stocks represented by the SPDR S&P Regional Banking ETF have surged on the promise of deregulation in the financial sector under a second Trump presidency.
Investors see a looser oversight environment, with the potential for the post-2008 rules regime to be dialed back, allowing for more dealmaking, more lending, and higher profitability.
Read the original article on Business Insider
The S&P/ASX 200 closed 47.7 points lower, down 0.57%.
All three winning sectors form today's trade are generally considered to be quite defensive in nature. As a fund manager, they’re the sectors you buy when you reluctantly have to buy something on the day…
Losers? They were far easier to spot as the Aussie stock market performed a disappointing about-face from yesterday's record intraday high. Where did all the buyers go!? 🤔
Click/scroll through for the usual reporting of the major sector and stock-specific moves, the broker responses to them, as well as all of the key upcoming economic data in tonight's Evening Wrap.
Also, I have detailed technical analysis on Iron Ore and Copper in today's ChartWatch.
Let's dive in!
Today in Review
Wed 20 Nov 24, 5:03pm (AEDT)
Name | Value | % Chg |
---|---|---|
Major Indices | ||
ASX 200 | 8,326.3 | -0.57% |
All Ords | 8,579.1 | -0.58% |
Small Ords | 3,127.8 | -0.84% |
All Tech | 3,878.8 | -0.45% |
Emerging Companies | 2,277.7 | -0.27% |
Currency | ||
AUD/USD | 0.6524 | -0.12% |
US Futures | ||
S&P 500 | 5,946.25 | +0.13% |
Dow Jones | 43,474.0 | +0.17% |
Nasdaq | 20,793.5 | +0.12% |
Name | Value | % Chg |
---|---|---|
Sector | ||
Health Care | 43,909.6 | +0.27% |
Utilities | 8,975.3 | +0.19% |
Financials | 8,928.8 | -0.40% |
Materials | 16,652.2 | -0.40% |
Consumer Staples | 11,522.4 | -0.53% |
Information Technology | 2,905.2 | -0.82% |
Real Estate | 3,947.7 | -0.97% |
Energy | 8,672.8 | -1.02% |
Consumer Discretionary | 3,875.7 | -1.10% |
Industrials | 7,575.2 | -1.31% |
Communication Services | 1,668.1 | -1.53% |
Markets
ASX 200 Session Chart
The S&P/ASX 200 (XJO) finished 47.7 points lower at 8,326.3, 0.84% from its session high and just 0.10% from its low. In the broader-based S&P/ASX 300 (XKO), advancers lagged decliners by a truly dismal 64 to 214.
The Gold (XGD) (+0.67%) sub-index was the best performing sector for a second day in a row, again helped by an improving gold (and silver) price. Health Care (XHJ) (+0.27%) and Utilities (XUJ) (+0.19%) were the only other sectors that managed to close in the black today .
To be fair, gains in each of these sectors was hardly emphatic. Health Care's gain, for example was extremely narrow – really just stemming from CSL (+1.1%) and Pro Medicus (+0.96%).
Also consider all three winning sectors today are generally considered to be quite defensive in nature. As a fund manager, they’re the sectors you buy when you reluctantly have to buy something on the day…
If we really want to discuss winners. Proper winners, scroll/swipe down to today's Interesting Moves section. There you'll see just how consistent today's winners were with my ChartWatch Daily Scans Uptrends lists. It might be worth keeping an eye on this update, published each morning at 9am Eastern on the dot! 🧐📈
Company | Last Price | Change $ | Change % | 1mo % | 1yr % |
Iperionx (IPX) | $4.04 | +$0.22 | +5.8% | +27.8% | +167.6% |
Catalyst Metals (CYL) | $2.95 | +$0.13 | +4.6% | -16.0% | +268.8% |
Avita Medical (AVH) | $3.90 | +$0.11 | +2.9% | +25.0% | +2.6% |
West African Resources (WAF) | $1.495 | +$0.035 | +2.4% | -12.8% | +83.4% |
Resolute Mining (RSG) | $0.430 | +$0.01 | +2.4% | -50.9% | +17.8% |
Healius (HLS) | $1.340 | +$0.03 | +2.3% | -23.0% | -23.8% |
Genesis Minerals (GMD) | $2.47 | +$0.05 | +2.1% | -0.8% | +59.9% |
Regis Healthcare (REG) | $6.44 | +$0.1 | +1.6% | -1.7% | +135.0% |
Perseus Mining (PRU) | $2.64 | +$0.04 | +1.5% | -9.9% | +48.7% |
Nanosonics (NAN) | $3.45 | +$0.05 | +1.5% | +0.6% | -19.4% |
CSL (CSL) | $274.30 | +$2.94 | +1.1% | -6.7% | +6.1% |
Evolution Mining (EVN) | $4.95 | +$0.05 | +1.0% | -6.1% | +37.5% |
Northern Star Resources (NST) | $17.07 | +$0.17 | +1.0% | -2.3% | +45.2% |
Pro Medicus (PME) | $214.62 | +$2.03 | +1.0% | +14.5% | +145.2% |
Newmont (NEM) | $65.89 | +$0.62 | +1.0% | -23.8% | +16.8% |
Westgold Resources (WGX) | $2.78 | +$0.02 | +0.7% | -15.5% | +31.8% |
Gold Road Resources (GOR) | $1.835 | +$0.01 | +0.5% | -6.4% | -0.3% |
Ebos Group (EBO) | $33.90 | +$0.14 | +0.4% | +2.7% | -0.5% |
Bellevue Gold (BGL) | $1.305 | +$0.005 | +0.4% | -16.9% | -7.1% |
APA Group (APA) | $7.18 | +$0.02 | +0.3% | +1.1% | -13.9% |
Today’s best stocks from the strongest ASX sectors
Everything that’s considered to be skewed more to the risk-on end of the spectrum was hit much harder today – a complete about face of the typical sentiment you’d usually associate with a market that just tipped a new all time high just yesterday.
It's enough to leave one scratching their head and with a slightly uneasy feeling in the pit of one's stomach...😟
High-PE tech related sectors like Communication Services (XTJ) (-1.5%) and Information Technology (XIJ) (-0.82%) were notable thematic losers. But so too were growth-related sectors like Consumer Discretionary (XDJ) (-1.1%), Energy (XEJ) (-1.0%), and Resources (XJR) (-0.39%).
Company | Last Price | Change $ | Change % | 1mo % | 1yr % |
PWR Holdings (PWH) | $6.85 | -$2.23 | -24.6% | -22.9% | -33.5% |
Appen (APX) | $2.24 | -$0.35 | -13.5% | +10.3% | +167.7% |
Mader Group (MAD) | $5.83 | -$0.58 | -9.0% | -3.0% | -8.3% |
Droneshield (DRO) | $0.755 | -$0.04 | -5.0% | -25.6% | +143.5% |
Redox (RDX) | $3.89 | -$0.16 | -4.0% | +6.3% | +55.0% |
New Hope (NHC) | $4.77 | -$0.18 | -3.6% | -3.2% | -8.1% |
Karoon Energy (KAR) | $1.365 | -$0.05 | -3.5% | -2.8% | -33.4% |
Brambles (BXB) | $18.92 | -$0.68 | -3.5% | +1.7% | +43.7% |
Netwealth Group (NWL) | $29.57 | -$1. | -3.3% | +6.4% | +114.0% |
Reliance Worldwide (RWC) | $5.39 | -$0.17 | -3.1% | -5.8% | +36.8% |
Zip Co. (ZIP) | $3.18 | -$0.1 | -3.0% | +12.8% | +685.2% |
Smartgroup (SIQ) | $7.80 | -$0.23 | -2.9% | -3.8% | -6.3% |
IDP Education (IEL) | $13.18 | -$0.38 | -2.8% | -3.9% | -44.6% |
Challenger (CGF) | $6.16 | -$0.17 | -2.7% | +1.7% | +6.9% |
Reece (REH) | $24.22 | -$0.62 | -2.5% | -8.3% | +24.5% |
Austal (ASB) | $3.16 | -$0.08 | -2.5% | +0.3% | +73.6% |
Champion Iron (CIA) | $5.33 | -$0.13 | -2.4% | -13.9% | -32.1% |
Telstra Group (TLS) | $3.85 | -$0.09 | -2.3% | +0.3% | +0.3% |
AUB Group (AUB) | $31.41 | -$0.73 | -2.3% | -0.8% | +11.4% |
NRW (NWH) | $3.91 | -$0.09 | -2.3% | +4.0% | +58.3% |
Today’s worst stocks from the weakest ASX sectors
ChartWatch
Iron Ore 62% (Front month, back-adjusted) SGX
Snooze 😴
The last time we covered iron ore was in ChartWatch in the Evening Wrap on 12 November.
In that update, we noted markets were again disappointed that another major Chinese government policy meeting passed without unveiling the much anticipated “stimulus bazooka”. There was also a general malaise that had beset metals markets following the Trump + Red Sweep US election result (tariffs on Chinese exports to the USA = 👎).
Not a great deal has changed since then, with the price of iron ore dipping further, then steadying, to close roughly the same as it was at that update.
The short term trend is still down, though, and the long term downtrend has had time to solidify further. The price action looks comfortable in falling peaks and falling troughs mode, and the candles are mixed at best.
Bottom line: Equilibrium with a slight supply-side bias.
95.80 is the nearest point of demand. A close below it would likely facilitate a probe of major demand at 88.35-89.15.
The long term trend ribbon is the nearest point of supply. It kicks in around 103.60 but is reinforced by static points of demand at 106.20, 108.95, and then the “big one”, 113.60-114.90. The iron ore price must deal with each of these if it wants to reverse the prevailing long term downtrend.
The path of least resistance remains down here, albeit at a slow grind. There remains no sign whatsoever of the seasonal rally that really should be beginning as you finish reading this sentence.
It’d going to take some large demand-side candles to kick it off (long white-bodied candles and or long downward pointing shadow). It will stand out like dogs’ you know what’s when it happens. Until then…hit the snooze button! 😴
High Grade Copper Futures (Front month, back-adjusted) COMEX
Copper copping it...
The last time we covered was in ChartWatch in the Evening Wrap on Evening Wrap on 12 November.
In that update, I said “it is growing clear to me that the supply side is in control of the price again”. Indeed, several supply-side candles have followed to cause the copper price to smash into the key 3.989-4.042 demand zone.
I also noted in that last update, that the candles in that zone would be critical. Note one of the classic “fingerprints of excess demand” as I call them – the long downward pointing shadow of the 14 November candle smack-bang in the demand zone – stamped out a temporary low.
The rally since then is less than inspiring. We just haven’t seen an emphatic demand-side follow through in either the candles or the volume.
This leads me to believe the short term downtrend ribbon is likely to offer some stiff excess supply, it will kick in around 4.24. Not far above the short term downtrend ribbon is a further potential wall of supply in the form of the long term downtrend ribbon, as well as the static 4.274-4.294 zone.
Watch the candles closely from here because black-bodied variants or those with long upward pointing shadows into known zones of supply will likely terminate this fledgling bounce.
In this scenario, if 3.989 goes then 3.893 may hold, but probing of lower demand areas like 3.753 or even 3.657 may also be possible.
Only a strong demand-side candle closing deep into the abovementioned supply zones would signal sentiment, and therefore control of the price, has changed.
Economy
Today
There weren't any major data releases in our time zone today
Later this week
Wednesday
18:00 UK Core Consumer Price Index October (CPI) (+3.1% p.a. forecast vs 3.2% p.a. in September)
Thursday
19:00 AUS RBA Governor Michelle Bullock speaks
Friday
09:00 AUS Flash Manufacturing Purchasing Managers Index (PMI) October (was 47.3 in September) & Flash Services PMI October (was 51.0 in September)
19:15 EUR Various countries Flash Manufacturing & Services PMIs October (Germany: Manufacturing forecast 43.1 vs 43.0 in September & Services 51.8 forecast vs 51.6 in September; Eurozone: Manufacturing forecast no change at 46.0 & Services forecast no change at 51.6)
Saturday
01:45 US Flash Manufacturing Purchasing Managers Index (PMI) October (was 47.3 in September) & Flash Services PMI October (was 51.0 in September)
Latest News
Midday Market Movers ehl era
Stocks making the biggest moves at noon: Energy Resources of Australia, PWR Holdings and more
Wed 20 Nov 24, 12:16pm (AEDT)
Quick Takes hls
Healius could pay a one-off special dividend of $300 million (or 25-30% yield)
Wed 20 Nov 24, 10:45am (AEDT)
Technical Analysis aai alq
ChartWatch ASX Scans: Alcoa, ALS, Brambles, Generation Development, Hub24, Noviqtech, Cettire, CSL, Elders, IGO
Wed 20 Nov 24, 9:00am (AEDT)
Market Wraps
Morning Wrap: ASX 200 futures flat, US markets mixed + Gold, iron ore and lithium miners to rise
Wed 20 Nov 24, 8:36am (AEDT)
Market Wraps alq deg
Evening Wrap: ASX 200 tips new record on surging gold, energy and tech stocks, lithium stocks tank despite rising lithium price
Tue 19 Nov 24, 6:00pm (AEDT)
Director Transactions ben ctd
Insider Trades: Directors bought and sold shares in these 6 ASX 200 stocks last week
Tue 19 Nov 24, 3:46pm (AEDT)
More News
Interesting Movers
Trading higher
+8.4% Catapult Group International (CAT) - Continued positive response to yesterday's N, yet again, rise is consistent with prevailing short and long term uptrends making it one of the most Featured stocks in ChartWatch ASX Daily Scans Uptrends lists 🔎📈
+5.9% Nexgen Energy (NXG) - NexGen Achieves Major Permitting Milestone, rise is consistent with prevailing short and long term uptrends making (recent regular in ChartWatch ASX Daily Scans Uptrends lists) 🔎📈
+5.8% Iperionx (IPX) - IperionX 2024 Sustainability Report, rise is consistent with prevailing short and long term uptrends, making this one also a heavily Featured stock in ChartWatch ASX Daily Scans Uptrends lists 🔎📈
+5.4% Rpmglobal (RUL) - No news, rise is consistent with prevailing short and long term uptrends, making this one also a heavily Featured stock in ChartWatch ASX Daily Scans Uptrends lists 🔎📈
+5.3% Regal Partners (RPL) - No news, rise is consistent with prevailing short and long term uptrends, making this one also a heavily Featured stock in ChartWatch ASX Daily Scans Uptrends lists 🔎📈
+4.3% SRG Global (SRG) - Continued positive response to yesterday's $700m of Contracts Secured with Key Repeat Clients, rise is consistent with prevailing short and long term uptrends, making this one also a heavily Featured stock in ChartWatch ASX Daily Scans Uptrends lists 🔎📈
+3.3% Perenti (PRN) - Investor Presentation, rise is consistent with prevailing short and long term uptrends, making this one also a heavily Featured stock in ChartWatch ASX Daily Scans Uptrends lists 🔎📈
+3.2% Generation Development Group (GDG) - Continued positive response to yesterday's AGM presentation, rise is consistent with prevailing short and long term uptrends, making this one also a heavily Featured stock in ChartWatch ASX Daily Scans Uptrends lists 🔎📈
+3.2% Pointsbet (PBH) - No news, rise is consistent with prevailing short and long term uptrends, making this one also a heavily Featured stock in ChartWatch ASX Daily Scans Uptrends lists 🔎📈
Trading lower
-24.6% PWR Holdings (PWH) - PWR Trading Update, yet again, fall is consistent with prevailing short and long term downtrends making it a regularly Featured stock in ChartWatch ASX Daily Scans Downtrends lists 🔎📉
-13.5% Appen (APX) - No news, generally weaker ASX tech sector today, pullback after a strong rally
-9.8% Webjet (WJL) - Delayed release of 1H25 results
-9.5% Peninsula Energy (PEN) - Continued negative response to 15 Nov Peninsula Energy/Lance Project Update, fall is consistent with prevailing short and long term downtrends 🔎📉
-9.0% Mader Group (MAD) - Change of Director's Interest Notice and Change in substantial holding (CEO and founder sell down)
-7.5% Neuren Pharmaceuticals (NEU) - No news, consistent with recent extreme price volatility, back below long term downtrend ribbon
-6.6% Cettire (CTT) - No news, fall is consistent with prevailing short and long term downtrends, making this one also a heavily Featured stock in ChartWatch ASX Daily Scans Downtrends lists 🔎📉
-5.0% Droneshield (DRO) - No news, fall is consistent with prevailing short and long term downtrends, making this one also a heavily Featured stock in ChartWatch ASX Daily Scans Downtrends lists 🔎📉
-4.8% Imugene (IMU) - No news, fall is consistent with prevailing short and long term downtrends, making this one also a heavily Featured stock in ChartWatch ASX Daily Scans Downtrends lists 🔎📉
-4.7% Immutep (IMM) - No news, fall is consistent with prevailing short and long term downtrends, making this one also a heavily Featured stock in ChartWatch ASX Daily Scans Downtrends lists 🔎📉
Broker Notes
ALS (ALQ)
Retained at buy at Goldman Sachs; Price Target: $16.65 from $14.85
Downgraded to neutral from overweight at Jarden; Price Target: $14.40 from $14.25
Retained at buy at Jefferies; Price Target: $17.70 from $16.90
Retained at outperform at Macquarie; Price Target: $16.25 from $15.00
Retained at add at Morgans; Price Target: $16.75 from $15.50
Retained at buy at UBS; Price Target: $17.50 from $16.30
Atlas Arteria (ALX)
Initiated at buy at Citi; Price Target: $5.80
Amcor (AMC)
Retained at neutral at Citi; Price Target: $17.00
Retained at equal-weight at Morgan Stanley; Price Target: $15.50
BHP Group (BHP)
Retained at buy at Citi; Price Target: $46.00
Retained at buy at Goldman Sachs; Price Target: $47.30 from $47.80
Retained at overweight at Morgan Stanley; Price Target: $46.85
Retained at neutral at UBS; Price Target: $43.00
Capricorn Metals (CMM)
Retained at buy at Bell Potter; Price Target: $7.54 from $7.23
Retained at buy at Canaccord Genuity; Price Target: $8.30 from $8.10
Cochlear (COH)
Retained at sell at Citi; Price Target: $305.00
Elders (ELD)
Retained at buy at Citi; Price Target: $9.75
Frontier Digital Ventures (FDV)
Retained at add at Morgans; Price Target: $0.61 from $0.66
Gentrack Group (GTK)
Retained at buy at Bell Potter; Price Target: $11.50 from $10.90
Healius (HLS)
Upgraded to neutral from sell at Citi; Price Target: $1.05 from $1.50
Insurance Australia Group (IAG)
Retained at outperform at Macquarie; Price Target: $8.00
KMD Brands (KMD)
Retained at equal-weight at Morgan Stanley; Price Target: $0.50
Lotus Resources (LOT)
Retained at buy at Canaccord Genuity; Price Target: $0.42
Monadelphous Group (MND)
Retained at hold at Bell Potter; Price Target: $13.90 from $13.80
Retained at buy at Citi; Price Target: $16.20
Retained at outperform at Macquarie; Price Target: $14.44 from $14.50
Newmont Corporation (NEM)
Upgraded to overweight from neutral at JP Morgan; Price Target: $72.50 from $74.00
Retained at outperform at Macquarie; Price Target: $82.00
New Hope Corporation (NHC)
Retained at neutral at Citi; Price Target: $5.00
Netwealth Group (NWL)
Retained at neutral at Citi; Price Target: $27.00
Paladin Energy (PDN)
Retained at buy at Canaccord Genuity; Price Target: $15.20
Pilbara Minerals (PLS)
Retained at neutral at Citi; Price Target: $2.90
Qantas Airways (QAN)
Retained at overweight at Morgan Stanley; Price Target: $10.50 from $8.50
QBE Insurance Group (QBE)
Retained at outperform at Macquarie; Price Target: $20.80
Retained at overweight at Morgan Stanley; Price Target: $21.25 from $19.30
Rio Tinto (RIO)
Retained at neutral at UBS; Price Target: $124.00
Resimac Group (RMC)
Retained at buy at Bell Potter; Price Target: $1.30
Steadfast Group (SDF)
Retained at outperform at Macquarie; Price Target: $6.80
Seek (SEK)
Retained at positive at E&P; Price Target: $28.50
Retained at sell at Goldman Sachs; Price Target: $21.50
Retained at overweight at JP Morgan; Price Target: $27.00 from $22.00
Sonic Healthcare (SHL)
Retained at neutral at Citi; Price Target: $27.00
SRG Global (SRG)
Retained at buy at Bell Potter; Price Target: $1.55 from $1.40
Retained at buy at Shaw and Partners; Price Target: $1.40
Santos (STO)
Upgraded to buy from neutral at Citi; Price Target: $7.60
Retained at buy at Goldman Sachs; Price Target: $7.90
Retained at overweight at Jarden; Price Target: $7.85 from $7.90
Retained at outperform at Macquarie; Price Target: $8.70 from $8.50
Retained at overweight at Morgan Stanley; Price Target: $7.99 from $7.97
Retained at outperform at RBC Capital Markets; Price Target: $7.50 from $7.75
Retained at buy at UBS; Price Target: $8.15 from $8.40
Suncorp Group (SUN)
Retained at neutral at Macquarie; Price Target: $17.00
Technology One (TNE)
Retained at hold at Bell Potter; Price Target: $29.50 from $24.00
Retained at neutral at Goldman Sachs; Price Target: $26.90 from $24.05
Retained at neutral at JP Morgan; Price Target: $27.00 from $18.50
Downgraded to neutral from outperform at Macquarie; Price Target: $27.90 from $22.20
Retained at equal-weight at Morgan Stanley; Price Target: $25.50 from $15.20
Downgraded to hold from add at Morgans; Price Target: $29.90 from $20.50
Downgraded to lighten from hold at Ord Minnett; Price Target: $25.20 from $17.60
Retained at outperform at RBC Capital Markets; Price Target: $35.00 from $24.00
Retained at hold at Shaw and Partners; Price Target: $29.30 from $17.30
Retained at buy at UBS; Price Target: $33.80 from $26.20
Wagners Holding Company (WGN)
Retained at add at Morgans; Price Target: $1.55 from $1.25
Scans
Top Gainers
Code | Company | Last | % Chg |
---|---|---|---|
NYM | Narryer Metals Ltd | $0.031 | +55.00% |
RB6 | RUBIX Resources Ltd | $0.11 | +22.22% |
TKM | Trek Metals Ltd | $0.028 | +21.74% |
AJX | Alexium Internati... | $0.012 | +20.00% |
BET | Betmakers Technol... | $0.115 | +19.79% |
View all top gainers
Top Fallers
Code | Company | Last | % Chg |
---|---|---|---|
ADX | ADX Energy Ltd | $0.06 | -40.00% |
PWH | PWR Holdings Ltd | $6.85 | -24.56% |
G11 | G11 Resources Ltd | $0.013 | -23.53% |
MNC | Merino & Co. Ltd | $0.32 | -21.95% |
QEM | QEM Ltd | $0.036 | -21.74% |
View all top fallers
52 Week Highs
Code | Company | Last | % Chg |
---|---|---|---|
CAY | Canyon Resources Ltd | $0.185 | +12.12% |
KP2 | Kore Potash Plc | $0.068 | +11.48% |
SHO | Sportshero Ltd | $0.021 | +10.53% |
AME | Alto Metals Ltd | $0.086 | +8.86% |
CAT | Catapult Group In... | $3.49 | +8.39% |
View all 52 week highs
52 Week Lows
Code | Company | Last | % Chg |
---|---|---|---|
ADX | ADX Energy Ltd | $0.06 | -40.00% |
PWH | PWR Holdings Ltd | $6.85 | -24.56% |
G11 | G11 Resources Ltd | $0.013 | -23.53% |
QEM | QEM Ltd | $0.036 | -21.74% |
BSN | Basin Energy Ltd | $0.022 | -21.43% |
View all 52 week lows
Near Highs
Code | Company | Last | % Chg |
---|---|---|---|
AN3PI | Australia and New... | $104.50 | -0.29% |
PCI | Perpetual Credit ... | $1.16 | 0.00% |
WVOL | Ishares MSCI Worl... | $41.28 | -0.43% |
IPX | Iperionx Ltd | $4.04 | +5.76% |
GCI | Gryphon Capital I... | $2.03 | -0.49% |
View all near highs
Relative Strength Index (RSI) Oversold
Code | Company | Last | % Chg |
---|---|---|---|
WLE | Wam Leaders Ltd | $1.25 | -1.96% |
IRE | Iress Ltd | $9.28 | -0.86% |
RSG | Resolute Mining Ltd | $0.43 | +2.38% |
PWH | PWR Holdings Ltd | $6.85 | -24.56% |
SMP | Smartpay Holdings... | $0.575 | +0.88% |
View all RSI oversold
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