Breakout Stocks of Week 6 @ ASX
NASDAQ was up last week (week 5) by 1.12% ending at 15,628.95 points after gaining 173.59 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 Gentrack Group Limited ASX:GTK. This stock has had a buy signal since Jan 31, 2024 when the price was $6.10 and is so far up 3.77% to $6.33. Some other companies are on our watchlist to, among these are IRESS Limited ASX:IRE Temple & Webster Group Limited ASX:TPW Premier Investments Limited ASX:PMV and BWP Trust ASX:BWP which all got a breakout pattern emerging.
| Date | Company | Price | Week 6 |
|---|---|---|---|
| Gentrack Group Limited | $6.33 | $6.84 | 8.06% |
| Iress Limited | $8.31 | $8.49 | 2.17% |
| Temple & Webster Group Limited | $9.17 | $9.80 | 6.87% |
| Premier Investments Limited | $28.22 | $28.34 | 0.425% |
| Bwp Trust | $3.40 | $3.53 | 3.82% |
The Gentrack Group Limited stock price gained 2.76% on the last trading day (Friday, 2nd Feb 2024), rising from $6.16 to $6.33. It has now gained 3 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 3.88% from a day low at $6.18 to a day high of $6.42. The price has risen in 6 of the last 10 days and is up by 5.85% 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, 303 thousand more shares were traded than the day before. In total, 348 thousand shares were bought and sold for approximately $2.20 million.
Gentrack Group 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 Gentrack Group Limited:
Gentrack Group Limited, together with its subsidiaries, engages in the development, integration, and support of enterprise billing and customer management software solutions for the energy and water utility, and airport industries in Australia, New Zealand, the United Kingdom, and internationally. It operates through two segments, Utility Billing Software and Airport Management Software. The company's products portfolio includes billing and customer care systems, managed services, data analytics and AI, master data services, profitability and risk management tools, pricing and product management functionalities, and market operations cloud platform. It also provides support services, such as upgrades, software revisions, and extended support, as well as software development and sales. Gentrack Group Limited was founded in 1989 and is headquartered in Auckland, New Zealand.
The IRESS Limited stock price gained 2.09% on the last trading day (Friday, 2nd Feb 2024), rising from $8.14 to $8.31. During the last trading day the stock fluctuated 1.90% from a day low at $8.17 to a day high of $8.33. The price has been going up and down for this period, and there has been a 2.34% 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, 130 thousand more shares were traded than the day before. In total, 492 thousand shares were bought and sold for approximately $4.09 million.
IRESS 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 IRESS Limited:
Iress Limited engages in the designing and developing software and services for the financial services industry in Australia, New Zealand, Asia, the United Kingdom, Europe, South Africa, and North America. It offers client management, business automation, portfolio data, research, financial planning tools, scaled advice journeys, digital client solutions, data-driven compliance and analytics, and regulatory obligations management solutions; and market data, trading interfaces, order and execution management, smart order routing, FIX services, portfolio management, securities lending, analytical tools, algorithmic trading, market making, CFD clearing, post trade solutions, and trading and market data APIs. The company also provides connectivity, client relationship management, wealth management, funds registry, digital advice, digital member portal, fund administration services, automated workflow, application processing, connectivity, mortgage comparison and advice, lender connectivity, quoting, comparison, and application processing solutions. It offers its solutions to institutional and independent advisory clients; institutional sell-side, retail, and online brokers; investment, fund, private client, and wealth managers; custodians; retail and investment platforms; superannuation funds; mortgage lenders and intermediaries; and insurance intermediaries. The company was formerly known as IRESS Market Technology Limited and changed its name to IRESS Limited in May 2012. Iress Limited was incorporated in 1993 and is headquartered in Melbourne, Australia.
The Temple & Webster Group Limited stock price gained 1.33% on the last trading day (Friday, 2nd Feb 2024), rising from $9.05 to $9.17. During the last trading day the stock fluctuated 3.24% from a day low at $8.96 to a day high of $9.25. The price has risen in 7 of the last 10 days and is up by 7.5% over the past 2 weeks. Volume fell on the last day by -83 thousand shares and in total, 297 thousand shares were bought and sold for approximately $2.72 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Temple & Webster Group 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 Temple & Webster Group Limited:
Temple & Webster Group Ltd engages in the online retail of furniture, homewares, and other lifestyle products in Australia. The company operates the Temple & Webster online platform that offers approximately 200,000 products. Its online platform offers outdoor, office, and home décor furniture; and rugs, lighting, wall art bed and bath, kitchen baby and kids, renovation, and lifestyle products. Temple & Webster Group Ltd was founded in 2011 and is headquartered in Sydney, Australia.
The Premier Investments Limited stock price gained 1.58% on the last trading day (Friday, 2nd Feb 2024), rising from $27.78 to $28.22. During the last trading day the stock fluctuated 1.43% from a day low at $27.94 to a day high of $28.34. The price has risen in 7 of the last 10 days and is up by 5.46% over the past 2 weeks. Volume fell on the last day by -164 thousand shares and in total, 148 thousand shares were bought and sold for approximately $4.17 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Premier Investments 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 Premier Investments Limited:
Premier Investments Limited operates various specialty retail fashion chains in Australia, New Zealand, Asia, and Europe. It operates through two segments, Retail and Investment. The company offers casual wear, women's wear, and non-apparel products. It has a portfolio of retail brands consisting of Just Jeans, Jay Jays, Jacqui E, Portmans, Dotti, Peter Alexander, and Smiggle. The company provides its products through retail stores, as well as through wholesale and online channels. In addition, it invests in securities. The company was incorporated in 1987 and is based in Melbourne, Australia.
The BWP Trust stock price gained 1.49% on the last trading day (Friday, 2nd Feb 2024), rising from $3.35 to $3.40. During the last trading day the stock fluctuated 1.49% from a day low at $3.35 to a day high of $3.40. The price has risen in 5 of the last 10 days but is still down by -0.58% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 847 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $6.51 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 BWP Trust stock to perform well in the short-term period.
About BWP Trust:
Established and listed on the Australian Securities Exchange (ASX) in 1998 (see prospectus), BWP Trust (BWP or the Trust) is a real estate investment trust investing in and managing commercial properties throughout Australia. The majority of the Trust's properties are large format retailing properties, in particular, Bunnings Warehouses, leased to Bunnings Group Limited (Bunnings). Bunnings is the leading retailer of home improvement and outdoor living products in Australia and New Zealand, and a major supplier to project builders, commercial trades people, and the housing industry. Full details on the Trust's property portfolio can be found in the Our Properties section of this website. The Trust is managed by an external responsible entity, BWP Management Limited (the responsible entity) which is appointed under the Trust's constitution and operates under an Australian Financial Services Licence. The responsible entity is committed to managing the Trust solely and is paid an annual fee based on the gross assets of the Trust. Both Bunnings and the responsible entity are wholly-owned subsidiaries of Wesfarmers Limited (Wesfarmers), one of Australia's largest listed companies. Wesfarmers also owns approximately 24.75 per cent of the issued units in the Trust.
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.
