Breakout Stocks of Week 17 @ ASX
NASDAQ fell hard last week and was down all -5.52% ending at 15,282.01 points after ending the week prior at 16,175.09 points. The sharp fall could pose a good buying opportunity. 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 CSR Limited ASX:CSR. This stock has had a buy signal since Feb 16, 2024 when the price was $6.79 and is so far up 30.49% to $8.86. Some other companies are on our watchlist to, among these are The Lottery Corporation Limited ASX:TLC Bendigo and Adelaide Bank Limited ASX:BEN Challenger Limited ASX:CGF and Qube Holdings Limited ASX:QUB which all got a breakout pattern emerging.
| Date | Company | Price | Week 17 |
|---|---|---|---|
| Csr Limited | $8.86 | $8.86 | 0% |
| The Lottery Corporation Limited | $4.94 | $4.86 | -1.62% |
| Bendigo And Adelaide Bank Limited | $9.66 | $9.70 | 0.414% |
| Challenger Limited | $6.65 | $6.71 | 0.90% |
| Qube Holdings Limited | $3.27 | $3.25 | -0.612% |
The CSR Limited stock price gained 0.113% on the last trading day (Friday, 19th Apr 2024), rising from $8.85 to $8.86. During the last trading day the stock fluctuated 0.113% from a day low at $8.85 to a day high of $8.86. The price has been going up and down for this period, and there has been a 0.34% gain 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, 7 million shares were bought and sold for approximately $63.21 million.
CSR Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
About CSR Limited:
CSR Limited, together with its subsidiaries, engages in the manufacture and supply of building products for residential and commercial constructions in Australia and New Zealand. It operates through Building Products, Property, and Aluminium segments. The Building Products segment offers interior systems, including gyprock plasterboards, Martini acoustic insulation products, and Rondo rolled formed steel products, as well as Himmel and Potter interior systems that supplies ceiling tiles, aluminum partitions, and architectural hardware products; construction systems, such as Hebel autoclaved aerated concrete products, AFS walling systems, cladding systems, and Cemintel fiber cement; masonry and insulation solutions comprising Bradford insulations, Bradford energy solutions, Edmonds ventilation systems, and Monier roofing solutions; and bricks, including PGH Bricks and pavers. The company's Property segment sells former operating sites. This segment is also involved in the large-scale developments in New South Wales, Queensland, and Victoria. Its Aluminium segment offers aluminium ingots, billets, and slabs. CSR Limited was founded in 1855 and is headquartered in North Ryde, Australia.
The The Lottery Corporation Limited stock price gained 0.203% on the last trading day (Friday, 19th Apr 2024), rising from $4.93 to $4.94. During the last trading day the stock fluctuated 2.70% from a day low at $4.82 to a day high of $4.95. The price has fallen in 6 of the last 10 days and is down by -4.26% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $20.28 million.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
The Bendigo and Adelaide Bank Limited stock price fell by -0.719% on the last day (Friday, 19th Apr 2024) from $9.73 to $9.66. During the last trading day the stock fluctuated 1.52% from a day low at $9.55 to a day high of $9.69. The price has fallen in 6 of the last 10 days and is down by -4.45% for this period. Volume has increased on the last day by 27 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $13.84 million.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
About Bendigo and Adelaide Bank Limited:
Bendigo and Adelaide Bank Limited provides banking and financial products and services to retail customers and small to medium sized businesses in Australia. The company operates through Consumer, Business, and Agribusiness segments. It offers a range of products and services, including personal and business banking, financial planning, commercial mortgages and unsecured loans, investment products, insurance, and superannuation. The company also provides retail banking products and services; home loans for the mortgage broker and mortgage manager market; rural bank products and services; wealth management services; investments and funds management services, commercial loans, access to funeral bonds, estates and trusts management services, and corporate trustee and custodial services; and banking products and services to agribusiness participants. It operates 139 Bendigo Bank, 319 Community Bank, 13 Delphi Bank, 16 Alliance Bank, and 4 private franchise branches, as well as 191 rural bank points. The company was founded in 1858 and is headquartered in Bendigo, Australia.
The Challenger Limited stock price fell by -2.49% on the last day (Friday, 19th Apr 2024) from $6.82 to $6.65. During the last trading day the stock fluctuated 4.04% from a day low at $6.57 to a day high of $6.83. The price has fallen in 8 of the last 10 days and is down by -4.73% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 1 million shares were bought and sold for approximately $7.71 million.
Challenger Limited 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 Challenger Limited:
Challenger Limited is a publicly owned investment manager. The company also provides retirement services to its clients. It manages equity mutual funds. The firm invests into the public equity markets across the world. Challenger Limited was founded in 1985 and is based in Australia, Asia and United Kingdom.
The Qube Holdings Limited stock price fell by -0.91% on the last day (Friday, 19th Apr 2024) from $3.30 to $3.27. During the last trading day the stock fluctuated 1.39% from a day low at $3.24 to a day high of $3.28. The price has been going up and down for this period, and there has been a -2.39% loss for the last 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $8.52 million.
Qube Holdings Limited 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 Qube Holdings Limited:
Qube Holdings Limited, together with its subsidiaries, provides logistics solutions for import and export supply chain in Australia. The company's Operating Division offers services relating to the import and export of primarily containerized cargo. This division provides various services, including physical and documentary processes, and tasks of the import/export supply chain, such as road and rail transport of containers to and from ports, operation of container parks, customs and quarantine services, warehousing, intermodal terminals, international freight forwarding, and bulk rail haulage for rural commodities. It also offers a range of logistics services relating to the import and export of primarily non-containerized freight with a focus on automotive, bulk, and break bulk products; an integrated logistics solution for the automotive industry covering a range of activities comprising stevedoring, processing, and delivery; and logistics solution from mine-to-ship activities, including transport, stockpile management, storage facilities, and stevedoring. In addition, this division provides stevedoring and related logistics services for the oil and gas industry, forestry products, and project and general cargo; handles a range of commodities that include iron ore, copper, nickel concentrate, and mineral sands; and owns a multi-user facility for the stevedoring industry. The company's Property Division owns a 243-hectare parcel of land in the Moorebank logistics park project; and provides container stevedoring services in Australia. The company was formerly known as Qube Logistics Holdings Limited and changed its name to Qube Holdings Limited in November 2012. Qube Holdings Limited was incorporated in 2011 and is based in Sydney, Australia.
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.
