Wealth Within: August could be month Oz market finally breaks into new ATH territory

With the All Ordinaries Index closing in on the key 9,200 resistance level, Wealth Within’s Filip Tortevski and Pedro Banales believe August could be the month the Australian share market finally breaks into new all-time high territory. After weeks of consolidation and higher lows, market momentum continues to build, creating opportunities in several standout sectors.

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One stock on their radar is Regis Healthcare (ASX:REG), currently trading around $6.08. Following its acquisition of Royal Freemasons Victoria’s home care business, Regis has strengthened its position in the rapidly growing aged care sector.

Tortevski highlighted the stock’s strong support near $6.00, while Banales noted that a move above $6.80 could signal renewed bullish momentum and a potential push towards previous highs.

Another stock attracting attention is Southern Palladium (ASX:SPD), trading around $1.56. The company is advancing one of South Africa’s largest undeveloped platinum group metal projects and is showing improving technical strength after establishing higher highs and higher lows. Banales believes the stock could be well placed to benefit if commodity sentiment continues to improve.

Rounding out the list is DUG Technology (ASX:DUG), currently trading near $2.01. The technology company provides high-performance computing, AI-ready cloud infrastructure and specialised software solutions. Both Tortevski and Banales see strong upside potential should the stock break above the key $2.20 to $2.40 resistance zone.

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