MyState (MYS) has just put together a series of positive days with Friday's gain of over 5% being the icing on the cake. However, we shouldn't be that surprised as MYS has never recorded a negative move over the last 10 trading days of August. Perhaps this unblemished track record is a by-product of the full-year earnings effect, otherwise, MYS is just...
In relative terms, the first 7 trading days of September have been reasonably positive for Fletcher Building Limited (ASX:FBU). Since 2000, the first 7 trading days of September provided an average relative return vs All Ordinaries Index (ASX:XAO) of 3.14%, with a relative win rate of 17 from 21, & a standard deviation of 4.32%.
The Growthpoint Properties Australia Ltd (ASX:GOZ) MACD Histogram (12, 26, 9) has just recorded 25 consecutive days above 0. Since 2007, this type of indicator persistence above 0 was usually the forerunner to some short-term upside. The optimal 15-day average return, following GOZ's (12, 26, 9) MACD Daily Histogram above 0 for 25 consecutive days, was 2,55% with...
The CSL Ltd (ASX:CSL) MACD Histogram (12, 26, 9) has just recorded 30 consecutive days above 0. Since 2000, this type of indicator persistence above 0 was usually the forerunner to some short-term relative outperformance. The optimal 12-day average relative return vs All Ordinaries Index (ASX:XAO), following CSL's (12, 26, 9) MACD Daily Histogram above 0 for 30...
Cochlear Ltd (ASX:COH) has underperformed the All Ordinaries Index for 5 consecutive weeks (relative up week followed by 5 relative down weeks). Since 2000, this type of relative underperformance is reasonably rare having been observed on 14 overlap adjusted occasions (at least 13-weeks between each event over continuous rolling 13-week intervals). This relative...
No evidence of an August / September Turn of the Month Effect for the S&P ASX 200 Index (ASX:XJO). Since 2000, the last 2 days of August & first 2 days of September reveals a slight upward bias. Albeit, noise dominates the data. 4-day average return of 0.35%, win rate 12 from 21, standard deviation of 1.67%.
Orora Ltd (ASX:ORA) has a tendency to perform relatively well around its Half Year & Full Year dividend. Since 2014, the average relative return vs All Ordinaries Index (ASX:XAO) for the 5 days before Ex-Dividend, Day of Ex-Dividend, & 7 days after Ex-Dividend (13 Trading Days) was 4.13% with a win rate of 14 from 15.
I note that IGO has closed lower for 6 consecutive trading days. Historically this type of persistent weakness usually led to a short-term bounce. Since 2002, IGO has fallen for 6 Consecutive Down Days (up or unchanged Day followed by 6 down Days) on 23 occasions. Following this weakness, IGO managed an average 3-day gain of 5.40%, with a win rate of 19 from 23...
Since 2000, the historical performance of the S&P ASX 200 Index XJO for the last 5 trading days of August reveals a slight upward bias. Albeit, noise dominates the data. 5-day average return of 0.51%, win rate 13 from 21, standard deviation 1.98%.
Mirvac Group MGR has outperformed the All Ordinaries Index for 4 consecutive weeks (relative down week followed by 4 relative up weeks). This type of relative outperformance has consistently been a precursor to an upside move for MGR. Since 2000, MGR has recorded 4 consecutive relative up weeks on 28 overlap adjusted occasions (at least 13-weeks between each...
For the 1st time since February 2020, the All Ordinaries Index (XAO) has closed lower for 5 consecutive days. The February 2020 episode didn't end well. However, one swallow does not a summer make. Since 2000, XAO has fallen for 5 Consecutive Days (up or unchanged day followed by 5 down days) on 60 occasions. Following this weakness, XAO managed an average...