Breakout Stocks of Week 12 @ ASX
NASDAQ was down last week (week 11) by -0.696% ending at 15,973.17 points after falling -111.94 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are Link Administration Holdings Limited ASX:LNK. This stock has had a buy signal since Feb 21, 2024 when the price was $2.20 and is so far up 0.455% to $2.21. Some other companies are on our watchlist to, among these are Super Retail Group Limited ASX:SUL Bannerman Resources Limited ASX:BMN Accent Group Limited ASX:AX1 and Yancoal Australia Ltd ASX:YAL which all got a breakout pattern emerging.
| Date | Company | Price | Week 12 |
|---|---|---|---|
| Link Administration Holdings Limited | $2.21 | $2.24 | 1.36% |
| Super Retail Group Limited | $15.05 | $15.40 | 2.33% |
| Bannerman Resources Limited | $2.99 | $3.66 | 22.41% |
| Accent Group Limited | A$2.01 | A$1.94 | -3.48% |
| Yancoal Australia Ltd | $5.33 | $5.25 | -1.50% |
No changes to the price of Link Administration Holdings Limited stock on the last trading day (Friday, 15th Mar 2024). During the last trading day the stock fluctuated 0.452% from a day low at $2.21 to a day high of $2.22. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Link Administration Holdings Limited stock to perform well in the short-term period.
About Link Administration Holdings Limited:
Link Administration Holdings Limited provides technology-enabled administration solutions for companies, large asset owners, and trustees worldwide. The company operates through Retirement & Superannuation Solutions (RSS); Corporate Markets (CM); Banking & Credit Management (BCM); and Fund Solutions (FS) segments. The RSS segment provides core member and employer administration services; and a range of value-added services, including integrated clearing house, financial planning and advice, direct investment options, and trustee services. The CM segment offers shareholder management and analytics, stakeholder engagement, share and unit registry, employee share plans, and company secretarial support services, as well as insolvency solutions. The BCM segment provides loan origination and servicing, debt work-out, compliance, and regulatory oversight services to retail banks, investment banks, private equity funds, and other investors. The FS segment offers fund management, third-party administration, and transfer agency services to asset managers and a?variety of investment funds. The company was founded in 2005 and is headquartered in Sydney, Australia.
The Super Retail Group Limited stock price gained 0.133% on the last trading day (Friday, 15th Mar 2024), rising from $15.03 to $15.05. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.03% from a day low at $14.75 to a day high of $15.05. The price has been going up and down for this period, and there has been a -6.64% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $68.63 million.
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Super Retail Group Limited stock to perform well in the short-term period.
About Super Retail Group Limited:
Super Retail Group Limited engages in the retail of auto, sports, and outdoor leisure products in Australia and New Zealand. It offers automotive parts and accessories, handyman items, and tools and equipment to marine and motorbike products, including batteries, car care products, exterior accessories, hand and power tools, in-car navigation systems, in-car stereo equipment, lighting and electrical products, oils, filters and additives, outdoor equipment and accessories, seat covers and interior accessories, spare parts, paints and panels, and performance products. The company also provides footwear, fitness and sports equipment, apparel, and related accessories; and boating, camping, and fishing products, such as lures, rods and reels, tackle boxes, fishing nets, tents, ropes, pegs, cooking equipment, and clothing and hiking gears, as well as boating accessories comprising fishing rod holders, bilge pumps, fish-finders, etc. In addition, it offers apparel and equipment for mountain climbers, campers, hikers, and others; and products for travel, touring, outdoor, garage, and shed, as well as vehicles for adventure activities. The company sells its products under the Supercheap Auto, rebel, BCF, and Macpac brands; and offers its products online. It operates 698 stores. The company was formerly known as Super Cheap Auto Group Limited and changed its name to Super Retail Group Limited in 2010. Super Retail Group Limited was founded in 1972 and is based in Strathpine, Australia.
The Bannerman Resources Limited stock price gained 6.79% on the last trading day (Friday, 15th Mar 2024), rising from $2.80 to $2.99. During the last trading day the stock fluctuated 8.73% from a day low at $2.75 to a day high of $2.99. The price has fallen in 6 of the last 10 days but is still up by 0.67% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $14.54 million.
Bannerman Resources Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Bannerman Resources Limited:
Bannerman Energy Ltd engages in the exploration and development of uranium properties in Namibia, Southern Africa. Its principal property is its 95% owned Etango Project located in the Erongo uranium mining region of Namibia. The company was formerly known as Bannerman Resources Limited and changed its name to Bannerman Energy Ltd in July 2021. Bannerman Energy Ltd was incorporated in 2005 and is based in Subiaco, Australia.
The Accent Group Limited stock price gained 0.500% on the last trading day (Friday, 15th Mar 2024), rising from A$2.00 to A$2.01. During the last trading day the stock fluctuated 2.54% from a day low at A$1.97 to a day high of A$2.02. The price has fallen in 5 of the last 10 days and is down by -1.95% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 163 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately A$3.89 million.
Accent Group Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
The Yancoal Australia Ltd stock price gained 0.95% on the last trading day (Friday, 15th Mar 2024), rising from $5.28 to $5.33. During the last trading day the stock fluctuated 3.65% from a day low at $5.20 to a day high of $5.39. The price has fallen in 6 of the last 10 days and is down by -13.47% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately $56.67 million.
Yancoal Australia Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Yancoal Australia Ltd:
Yancoal Australia Ltd engages in the exploration, development, production, and marketing of metallurgical and thermal coal in Australia, Japan, Singapore, China, South Korea, Taiwan, Thailand, and internationally. It owns 95% interests in the Moolarben coal mine located in the Western Coalfields of New South Wales; 100% interests in the Stratford Duralie mines located within the New South Wales Gloucester Basin; 100% interests in the Yarrabee mine located to the northeast of Blackwater in Central Queensland's Bowen Basin; and 80% interests in the Mount Thorley mine and 84.5% interests in the Warkworth mine located in the Hunter Valley region of New South Wales. In addition, it owns 100% interest in the Ashton mine located in the Upper Hunter Valley region of New South Wales; the Austar mine located in New South Wales; and 50% interest in the Middlemount mine located in the Queensland's Bowen Basin, as well as holds interest in the Cameby Downs mine located in the Southeast Queensland, and the Hunter Valley coal mine located in the New South Wales. The company was incorporated in 2004 and is based in Sydney, Australia. Yancoal Australia Ltd is a subsidiary of Yankuang Energy Group Company Limited.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
