One of my daily trading preparation routines is to use IC software to scan for new 52-week high stocks. Providing the 52-week high is in a steady uptrend, without any short-term sharp parabolic increases, the stock is kept in a dedicated watchlist for further daily monitoring. The stocks in this folder tend to subsequently make new 52-week highs for weeks and months after. NEC (Nine Entertainment) made a new high last week. This is very bullish for the stock. The 100 and 200-day longer-term moving averages are both headed up. These are the type of stocks I want in my portfolio.
I also sometimes scan for new 52-week low stocks. One of the standout features is that the stock is declining below falling 100 and 200-day longer-term moving averages. SWM came up on the latest 52-week low stocks scan. These stocks out of all those listed on the ASX, are at greatest risk of going into a trading halt and subsequently being suspended from quotation. Stocks such as ABS, DSE, and BNB were all near their 52-week lows before finally being suspended. Traders usually lose everything.
Fortunately, the majority of 52-week new low stocks survive. However, professionals have long exited these stocks. The last line in the sand is a decisive move on relative large volume below the 200-day moving average. This first occurred back in Oct 2007 when SWM was trading around $12!
SWM could well be referenced as an archetype dog stock, ideally suited for shorting. Any short-term intraday or daily price increases are viewed as micro dead cat bounces. Until SWM can eventually rise above the 200-day moving average, SWM long holders are swimming in dangerous waters.
ALU_APT_APX_AVZ_A2M_CWY_EHL_HUB_LVH_NWH_NXT_OMH_ORE_SYR
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Last
17.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $269.3M |
Open | High | Low | Value | Volume |
18.0¢ | 18.0¢ | 17.5¢ | $69.79K | 396.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 66612 | 17.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
18.0¢ | 589545 | 14 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 66612 | 0.175 |
5 | 727450 | 0.170 |
8 | 1257949 | 0.165 |
8 | 384265 | 0.160 |
3 | 179400 | 0.155 |
Price($) | Vol. | No. |
---|---|---|
0.180 | 589545 | 14 |
0.185 | 490787 | 7 |
0.190 | 416000 | 3 |
0.195 | 94804 | 4 |
0.200 | 192781 | 10 |
Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
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SWM (ASX) Chart |