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A quick look at 52 week high and low stock prices: March 2013

March 6th, 2013 · Greg Atkinson · 5 Comments

Since mid 2012 the Australian stock market has been on a roll with the ASX All Ords & S&P/ASX 200 both closing today above 5100 points as the bull market continues. When I last looked at a few 52 week high and low stock prices the All Ords/ASX 200 were around 4300 so not surprisingly most stocks are now trading much higher and investors generally should be a happier lot than they were back then. However some stocks have actually fared relatively poorly since October 2011 and this may help us understand what might be moving the stock market at the moment.

If we look at the table of stocks below we can see most stocks are now trading higher, and in many cases much higher, since the last review in October 2011. But the mining stocks- BHP Billiton (BHP) and RIO Tinto (RIO) have actually struggled but to date this has not put the brakes on the wider rally across the market. Fairfax Media (FXJ) like many other media stocks, is in a rough patch, and it is the only other stock which is trading lower since the last review.

52 Week Stock Prices Highs/Lows
(Last trade/closing prices as of 5th March 2013)

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A closing price in green means the stock is trading higher than last time a check of 52 week stock prices was undertaken. (February 2010) A closing price in red means the stock price has fallen over the same period. A figure in black means the share price is approximately the same as the last review.

Virgin Blue Holdings (VBA) name/code change to Virgin Australian Holdings (VAH)

Generally speaking not only are most stocks trading higher but they are also trading close to their 52 week highs which indicates just how broad the share market rally has been. As I have been saying for some years now, the All Ords/ASX 200 should have been trading between 4800-5200 and so now we are finally in that range. It appears for now at least,  that shares are comfortably trading within that range although as I have mentioned before, I am expecting a correction of around 10% or perhaps even more if commodities prices take a tumble.

Now a quick look at some stock charts.

Platinum Asset Management (ASX:PTM) 2 year stock price chart

platinum_2_year_stock_chart_mar_2013

Platinum Asset Management (PTM) has rallied strongly over the last couple of months but curiously didn’t initially move upwards when the broader market started its move in mid 2012. I would class PTM as an income stocks and reckon many investors have bought into it to tap into the around 4% fully franked dividend.

Next up, a stock that is struggling – Goodman Fielder.

Goodman Fielder (ASX:GFF) 2 year stock price chart

goodman_fielder_2_year_stock_chart_mar_2013

GFF stocks are higher than they were at the last review but only just as if we look at the 2 year chart above we can see how the share prices has slumped. Personally when I see a stock like GFF with an ROE of around 7% I quickly move onto looking at another company.

Finally a brief look at a property/real estate related stock.

Australand Holdings (ASX:ALZ) 2 year stock price chart

 australand_holdings_2_year_stock_chart_mar_2013

Australand has probably benefited quite a bit from the interest rate cuts so my thinking would be that it hasn’t got much further to run. But for investors that we able to snap up shares when they were around $2.50 or below the dividend yield and capital gain would be giving their portfolios a nice boost.

So this latest review of 52 week share prices basically reflects what we already know – the market has enjoyed a broad rally, the mining stocks have been under some pressure and investors appear to have been moving backs into stocks.

But has the party just begun or is it later than we thought and soon the lights will go out?

Greg Atkinson is the editor of Shareswatch Australia and the Managing Director of Ohori Capital. He is originally from Australia but currently resides in Japan. He can be followed on twitter via @GregAtkinson_jp


5 responses so far ↓

  • 1 Jumbo jones // Mar 6, 2013 at 7:05 pm

    I have just been having read of your latest post and had the opportunity to review my previous comments.

    My call on a Dow jones 140000 has now proved complete. However, we are now moving into the end of the current USA equity bull market so expect a few months of topping to start before a significant decline through 14-15.

    All ords powering recently. Gfc high to be reclaimed somewhere in 2014 on the back of a resurgence in commodities as us equities early bear. Bhp and rio have led the underperformance. But they will catch up.

    In oz, short term – next few months expect market consolidation. Many cos way above 200mda and looking overbought. Expect good buying into year end 2013 as the market races higher in 2014.

  • 2 opinder // Mar 7, 2013 at 12:24 pm

    Hi jumbo Jones,

    Do You mean to say buying time is end of 2013 and before 2014 not now.?

    But If we add inflation into current date shares are meant to be where they should have been or infact more value by adding inflation data.

    I am expecting an average 10% rise every year minus 5% over the long term as an average.

  • 3 Greg Atkinson // Mar 8, 2013 at 5:55 pm

    Hi Jumbo, I am not quite that bullish since much of the rally in stocks is related to QE/low interest rates/stimulus across the G20 rather than stellar corporate performances or job growth.

    As much as I would like the All Ords to pass 6500 in 2014 I just don’t see it happening and I will be happy camper if the All Ords/ASX 200 simply hold above 5000 this year. I also remain bearish regarding the Chinese economy.

    But having said that, the bottom-line for the Australian stock market is that if the Chinese economy keeps moving along strongly then the miners should bounce back as you say so your prediction it that case could be right on the money.

  • 4 Lachlan // Mar 10, 2013 at 6:09 am

    I tend to agree with Jumbo’s comments Greg but I won’t go as far to say the GFC high will be met in 2014…maybe the following year. He has predicted a pull back like most of us here this year only he sees a great rally in 2014. Right this moment we are heading for a topping out and reversal of the XJO/Dow which will take us into a buying opportunity for the current rallying classes of stocks. Gold and gold stocks however have been hammered already. They will likely turn up soon while the stock market corrections come about.
    I am not sure how big I think this correction will be. Could be just to 4600 but could be more.
    As for why I think this market can rally…I trust Ben will do the right thing
    …and devalue everything in sight 😉

  • 5 Greg Atkinson // Mar 13, 2013 at 8:37 am

    I guess if Ben keeps doing his things then the sky is the limit when it comes to stocks (and gold) until the bubble he formed bursts.

    Last year at around the same time my forecast looked way too conservative and yet by the end of the year I was still a touch too high. I get an eerie feeling that this year my forecast of 4800-5200 will meet with a similar fate.

    I still reckon the markets need to deal with the Chinese economy adjusting downwards to a more sustainable growth level. I also can’t see what has been fixed in Europe or the U.S for that matter.

    But the massive debt bubble that popped during the GFC will work it’s way out of the system so I reckon 2014-2015 should see the Australian market get back up near levels last seen in 2007 which in itself, indicates this has been one heck of market slump!

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