17/11/24. 20 Leaders. Charts for Group 4,...

17/11/24. 20 Leaders. Charts for Group 4, under-performers.

Scentre Group. MRS Score -0.34.

SCG is best known for its Westfield Malls. Another great dividend payer, +4.62% p.a.

SCG suffered a good kicking back on 20September, when it fell from its highs on heavy volume. That's a good sign that institutional investors said, "This is gone far enough, let's sell it off and buy it at a much better price."

It now seems to have favourable winds behind it and may have turned the corner. MACD and Money Flow are showing positive divergences.

I'm looking for at least a counter-trend rally.

Woodside. MRS Score -0.37%.

Woodside is now testing a major horizontal support level. There's a small positive divergence on the Money Flow and MACD Histogram is crawling above its centre line.

A break above the recent high on Friday 8 Nov. would make this a buy. But be prepared to bail as Woodside tends to be a victim of world geo-political events.

AMCOR. MRS Score-0.44.

Amcor is another stock suffering from a big fall but now appears to be recovering. The chart shows another Wyckoff Spring (Fri., 8 November). On the most recent Friday, AMC gapped up and finished above the short-term Bollinger Bands. It did come in for some intra-day selling, but further upside seems likely.
It is currently at 15.74 - a move up to test horizontal resistance at 16.68 seems likely.

Rio Tinto. MRS Score -0.48%.

Rio has been an underperformer for a long time like the other big Iron Ore miner BHP. Both have suffered at the hands of a Chinese economy which has plenty of worriers.

The chart seems to be trying to establish a low near horizontal support. Money Flow is supportive of a move to the upside, but I'd like to see more evidence of a break of the down-trend to put money into Rio.

A break of the down trend could easily occur, but best not to front-run it.