17/11/24. 20 Leaders. Charts for Group 5 - Dogs.We are now...

17/11/24. 20 Leaders. Charts for Group 5 - Dogs.

We are now getting down into the group where the stocks have seriously under-performed the XJO - the DOGS. Are there any in this group that might provide a turn-around?

Transurban (TCL). MRS Score -0.59.

Transurban is a company in the business of providing toll roads. As such, it acts as a "Utility" and tends to provide steady dividends and the stock is interest rate sensitive. With the RBA holding its cards tightly, there doesn't seem to be a lot to look forward to as far as stock price appreciation is concerned.

Dividend yield: 4.97% p.a.

Like some of the other under-performers, TCL has been in a long down-trend and is now at a horizontal support level.

Indicators are showing some hope of a turn-around with positive divergences, but we need to see definite signs in the chart that a turn-around is occurring.

The chart is currently below its short-term Bollinger Bands. I'd like to see the chart above those with the BBs turned up.

BHP. MRS Score -0.61.

BHP, like Rio, is suffering from the Chinese economic malaise.

It could be trying to eke out a bottom, and positive divergences on Money Flow and MACD Histogram provide some hope.

But, until BHP can get above its BBs and the BBs turn up, it's best to wait.

CSL. MRS Score -0.62.

That big fat volume candle might be just what CSL needs. That looks like a lot of investors throwing away their stocks and smart money would be the ones buying. We often see big volumes changing hads at the bottom of trends. Doesn't always work as a rule, so don't front run this. But CSL is a great company - watch for the chart to break above the BBs and for the BBs to turn up.

Geoff Wilson from Wilson Asset Management: “when everyone is negative, be buying, and when everyone’s positive, you’re more likely selling.” (If only it was that easy.)

WOW. MRS Score -1.07.

Look at those big volume candles back on 30/31 October. Still no sign that this is turning around, but the momentum of the fall has slowed.

RSI is extremely oversold at 26.7 - but that's no guarantee that it will turn-around.

MFI has risen above its BBs but the chart still hasn't moved up.

No point in front-running this - wait for definite signs of a move to the upside - and then it might only be a counter-trend rally up to that congestion zone around 32.00. WOW currently at 28.89.

T
ake care.