ASX Set to Make a New All-Time High in August: 3 Stocks to Watch

The Australian stock market is close to a new all-time high after finally breaking through an important resistance level that had capped prices for weeks. With reporting season now underway, attention is turning to the stocks best placed to benefit if the market continues higher. After several weeks of testing key resistance, the All Ordinaries Index has finally pushed through an important technical hurdle, placing the focus firmly on whether the next major barrier can be overcome.

In this episode of the Hot Stock Tips Show, senior analyst Filip Tortevski and analyst Pedro Banales examine why August could mark a significant milestone for the Australian share market before highlighting three ASX stocks they believe are worth watching.

The All Ordinaries Index Approaches a Critical Breakout

The All Ordinaries Index has spent several weeks testing resistance around 9,050, repeatedly failing to break higher while continuing to post higher lows. That pattern changed last week when the index closed decisively above the level for the first time since April, signalling that buyers are starting to take control. At the same time, trading volume has started to improve, adding further weight to the recent advance. 

Equally significant was the way the index approached the breakout. Rather than retreating after each test of the resistance level, the market continued to build a series of higher lows before finally pushing through 9,050. That combination of strengthening price action and a decisive close above the resistance level has shifted the focus to whether the index can now overcome the next major hurdle around 9,200, which has repeatedly acted as a resistance level since January. 

A sustained close above this level would remove one of the final technical barriers before a potential new all-time high. For now, the combination of improving momentum, rising volume and stronger price action suggests August could prove to be a pivotal month for the Australian share market.

Stock 1: Regis Healthcare (ASX: REG)

REG recently announced it was acquiring Royal Freemasons Victoria's Home Care Business, which will add 480 clients and more than $10 million in annual revenue. 

It is approaching a key technical level after spending almost a year consolidating around its previous all-time high. While the stock has moved lower, it has continued to hold above the September 2025 low, leaving $6.00 the key price level to watch. 

The next hurdle sits around $7.00. A move above this level would give the stock another opportunity to challenge its all-time high of $9.00. However, a break below $5.50 would change the picture. 

Since the June 2026 low, SPD has broken through the key level at $1.40, and if the stock continues its current momentum, it could move towards $2.60 to $2.80. 

Stock 2: Southern Palladium (ASX: SPD)

SPD is developing one of the largest undeveloped platinum metal mines in South Africa, with a feasibility study nearing completion to create a new mine. The stock has been sold off over the past few months, but it is now starting to show signs that the longer-term trend may be finding support. 

Since the June 2026 low, SPD has failed to break through the previous high in July 2017, but it has finally found support and traded through the June 2026 low, which previously acted as resistance in 2022 and support in 2025. If the stock continues its current momentum, it could move towards $2.60 to $2.80.

Stock 3: DUG Technology (ASX: DUG)

DUG provides high-performance computing, AI-ready cloud infrastructure, seismic imaging software and data centre technology to customers in the energy and industrial sectors. The business is profitable, generates cash and owns valuable computing infrastructure, although it also retains indirect exposure to the energy sector. 

After the price returned to its IPO level near $1.50, buyers stepped back in, suggesting that long-term value is once again being recognised around this area. The immediate focus is on the $1.90 level, which has acted as both resistance and support over several years. Holding above this price level will maintain the current momentum, while a breakthrough to $2.20 to $2.40 would improve the probability of the stock breaking above the previous all-time high near $3.20. On the downside, failure to hold above the $1.50 to $1.60 price point would indicate the sellers have regained control.

What Lessons Can We Learn

The three stocks highlight an important principle: don’t trade on speculation; instead, wait for the stock to confirm it is the right time to enter. In each case, the focus remains on clearly defined support and resistance levels rather than predicting what the market will do next. Regis Healthcare needs to hold around $6.00 and break above $7.00, Southern Palladium needs to build on its recent momentum, while DUG Technology must hold above $1.90 and overcome resistance around $2.20 to $2.30 before the longer-term picture becomes clearer. 

Equally important is managing expectations. DUG Technology has had some of the strongest moves, delivering gains of more than 100%, 230% and even 400%, but those advances unfolded over several months rather than a matter of weeks. Rather than expecting immediate results, the emphasis is on recognising key price levels, allowing the market to confirm the trend and then managing the trade as it develops.

Building the Skills to Analyse Stocks with Confidence

The technical setups highlighted in this article go beyond simply recognising stocks that are moving higher. They rely on understanding trends, momentum, support and resistance, and knowing when price action is providing confirmation rather than simply anticipating the next move. You can learn and apply these practical skills consistently across different markets.

They are the exact techniques taught through our trading courses, designed to give traders a repeatable, structured framework. Anyone starting out with a foundation in technical and fundamental analysis, including money management, is best served by the Short Course in Share Trading. 

Those ready to commit to the complete professional framework that can turn you into a consistently profitable trader should look at the Diploma of Share Trading and Investment, which is the only government-accredited course of its kind in Australia. Graduates ready to sharpen their edge with time analysis and Elliott Wave techniques can progress into the Advanced Stock Trading course. You can also gain share trading education from our educational articles, podcasts and videos every week. To learn more about who we are and our track record, visit Wealth Within. 

Final Thoughts

August could be the turning point for the Australian stock market, with the All Ordinaries Index trading close to its all-time high. A clear break above the 9,200 level would confirm that the All Ords has made a new all-time high. Regis Healthcare, Southern Palladium, and DUG Technology all have potential technical setups worth watching as reporting season unfolds.

Looking at the three stocks, the message is consistent. The key is not trying to predict what the market will do next but waiting for price to confirm that the move is underway. Identifying the important support and resistance levels, spotting changes in momentum and waiting for price action to confirm allows traders to make decisions based on what the market is doing rather than what they hope it will do. These technical analysis principles apply regardless of whether the market reaches a new all-time high this month.