We Found the 8 Best ASX Stocks for H2: Watch These Levels

The second half of the year is upon us, and the setup across the ASX is genuinely exciting. We have identified eight stocks showing potential to rise 100% or more, with key levels every investor needs to watch to navigate them like a professional. From gold producers to data centre REITs, biotech innovators to logistics tech leaders, the opportunities span sectors that have been quietly setting up while most investors have been focused elsewhere.

In the latest episode of the Australian Stock Market Show, senior analysts Filip Tortevski and Janine Cox, and Pedro Banales break down the macro backdrop, the sectors most likely to outperform, and eight specific ASX stocks worth serious attention heading into H2 2026.

H1 in Review and What Comes Next

The first half of the year has been fairly flat and lacklustre for the ASX, with the two biggest drivers being the AI boom in the US and the war in the Middle East. With the potential end of the conflict now in view, the focus shifts to what could drive markets through the second half. Tech remains the dominant story globally, and that hype is unlikely to fade quickly.

Domestically, several sectors that have been beaten down on negative war-driven sentiment now look poised for recovery. Technology stocks should benefit from a lower oil price environment, while real estate, consumer discretionary, healthcare, and utilities all stand to gain if inflation eases and rate cuts arrive later in the year or into early 2027. Many of these setups are precisely the kind that only emerge once every five or ten years, which makes recognising them now critically important.

1. St Barbara Limited (SBM)

St Barbara is showing a classic setup, bouncing off lows and then making strong moves up to confirm the recovery is genuine. The stock is currently coming back to an interesting line of support and holding up nicely against gold's recent pullback, which is a positive sign of relative strength.

Depending on strategy, the upside potential here is substantial. A confirmed trend resumption could deliver 60% to 80% as the stock moves into a full-blown uptrend, and short-term traders looking for the turnaround could see around 54%. The realistic target zone sits near $1.20, which essentially doubles the current price. With St Barbara mining copper alongside gold and having recently received funding, the fundamentals support the technical picture.

The longer-term context is even more compelling. Looking at the monthly chart, this is a highly cyclical stock with lows established in 2003, 2013, and now potentially completing another decade-long cycle. Past cycles have produced moves of 1,900% and 7,000% from low to high. Even a conservative 1,000% rise from current lows would represent significant upside for patient holders.

2. WiseTech Global (WTC)

WiseTech operates in the logistics space, which makes it a direct beneficiary of any reopening of global shipping routes including the Strait of Hormuz. As one of the major players in our technology sector, it is the first name worth watching for a turnaround in tech, particularly after being beaten down quite heavily.

The key support level sits around $35, which marked the all-time high back in 2019 and acted as a major level the stock struggled with through 2021 before eventually breaking out. With price now testing this zone again, the setup is constructive. Recent action shows the sharp downward moves slowing, sideways consolidation, and indecision bars suggesting accumulation is underway.

What makes this setup particularly compelling is the convergence of long-term technical levels. A momentum line established back in 2017 has provided pinpoint accuracy at multiple points, and price is now sitting right on that level with strong volume. Both price and time are aligned, suggesting WiseTech could be on the precipice of a meaningful turnaround.

3. WA1 Resources (WA1)

WA1 Resources presents an interesting setup with limited price history, which can be both a challenge and an opportunity. The angle of the recent trend coming up is constructive, with the stock appearing to have reversed off its low and meeting initial resistance around $14.50.

From the current price, there is approximately 100% upside if the stock can break through resistance and complete the next major leg. The key here is patience. Rather than buying at the highest-risk moment, the better approach is to wait for the stock to test resistance, allow others to take the speculative risk, and then enter on a confirmed break to new highs. This is the kind of disciplined entry that separates professional traders from speculators.

4. IPH Limited (IPH)

IPH has received a five-star rating in Morningstar, and the fundamentals support the technical setup. The company specialises in intellectual property services and operates in a financial services niche that is less crowded than the major bank trade. The stock currently trades around $4 with three key levels at $3, $6, and $9 forming the broader trading range.

The next resistance sits around $6, representing roughly 40% upside as the first hurdle. If the stock can push through to $9, where it has historically spent significant time, that would represent the full 100% target. With volatility returning and a clear cyclical pattern visible on the monthly chart with lows in 2003, 2018, and 2026, the conditions for another major run are aligning.

The lesson here is that strategy determines outcome. Using a defined momentum line, back tested rules, and clear levels removes subjectivity from the trade and allows confident execution rather than guesswork.

5. Alpha HPA (A4N)

Alpha HPA is tracking beautifully along its long-term angle, having come back home after accelerating away during the COVID period. The key question is whether the stock has fully tested its low yet, with the technicals suggesting a final test around the 60 to 70 cent zone could still play out before the next major move.

A breakout above the relevant downtrend line would open the path through $1, representing around 60% upside to the previous high. Looking at historical moves, Alpha HPA has delivered runs of 200% and 688% off its lows. While a repeat of the COVID-era run is unlikely, the degree of the current pullback and the clean technical structure suggest meaningful upside potential once the breakout is confirmed.

This is one of those rare moments where quality stocks are resetting back to long-term trends across the ASX. These setups do not appear often, sometimes only once every five to ten years, which makes the current environment one of the better opportunity windows we have seen in a long time.

6. Patriot Battery Metals (PMT)

Patriot Battery Metals is focused on lithium, caesium, and tantalum, all of which sit firmly in the battery metals theme. The chart shows a textbook V-shaped recovery from the 2025 low, with a sustained uptrend now beautifully aligned to a clear momentum line on the monthly chart.

The initial 100% upside target sits at $1.28, which represents a notable historical support level. Given the stock's prior 61% fall played out over roughly a year, a 100% rise within twelve months is well within historical norms for this kind of volatility. The weekly chart shows price rising alongside volume, which is exactly the confirmation traders want to see.

Two open gaps remain on the chart, one to the upside and one to the downside, which means the stock could pull back to retest the momentum line before resuming higher. The takeaway is simple. You make your money when you buy right. Combining price, pattern, and time provides a far better picture of when to time the entry rather than chasing the move on a whim.

7. Digico Infrastructure REIT (DGT)

Digico is a pure data centre play, having sold three overseas assets to focus on its prime Sydney location in the middle of the harbour where major cables and infrastructure converge. This is not the traditional commercial office REIT story most investors associate with the sector. This is essentially a tech REIT, riding the same data centre demand wave powering many of the major US technology names.

The weekly chart shows early signs of a potential setup for higher prices, though a full retest of the lows has not yet played out. The previous up move delivered 75%, and the current rise from the bottom has already produced around 90%. If the stock finds support at the current level, $4 becomes an easy next target, with $5 a realistic extension if a clean trend develops.

For investors still trading REITs the way they did ten years ago, the sector has quietly transformed. Warehousing, data centres, and infrastructure plays now dominate, and Digico is one of the cleaner examples of where the smart money is flowing.

8. Telix Pharmaceuticals (TLX)

Telix has been one of the more remarkable Australian healthcare stories, rising 1,400% from its 2020 low and outperforming most cryptocurrencies and meme stocks during that period. The stock has now come back to retest its long-term momentum line, presenting what could be a major accumulation opportunity in a heavily sold-off healthcare sector.

The current pattern looks remarkably similar to the earlier base that preceded the explosive rise, with volume present and an interesting consolidation pattern forming. The 100% target sits back at $28, with the all-time high near $31 representing the upper target zone. Conservative traders may want to wait for a confirmed break above the immediate resistance before committing, but the technical and fundamental setup is one of the most compelling on this list.

This was the analyst's top pick across all eight stocks, with the depth of the pullback and the magnitude of the prior trend providing exceptional risk-reward potential.

Trending Topic: Have Oil Prices Bottomed and Will the RBA Cut Rates?

Oil prices have fallen more than 30% in recent months, with over 10% of that occurring in the past week alone as US-Iran peace negotiations eased fears of prolonged disruption to global supplies. Brent crude has hit a three-month low, and the question now is whether this has fundamentally changed the inflation outlook enough to open the door for RBA rate cuts.

Technically, oil looks set to range-trade between $70 and $90 for the foreseeable future, more likely hanging closer to the $80 mark after this initial volatility settles. This is far more like the normal trading pattern for oil, which typically moves sideways or in steady trends rather than the violent moves we have seen during the conflict.

For the RBA, this means more predictability in decision-making and less pressure to chase inflation with rate hikes that hurt borrowers. However, expecting an immediate reversal of recent cash rate hikes would be optimistic. Governor Michele Bullock is unlikely to make knee-jerk decisions, and the next significant move is more likely in September or later in the year, potentially aligned with the lead-in to the holiday shopping season. The three-month inflation data due next month will be the critical catalyst worth watching closely.

Reader Questions: What the Charts Are Telling Us

Almonty Industries (AII) After a 48% Daily Spike

Peter asked about Almonty Industries after the stock spiked 48.5% in a single session. What followed is the more important story. The stock subsequently fell 26% and now sits 21% below the spike close. One day does not make a trend, and chasing news-driven spikes is one of the fastest ways to lose money in the market.

The safer approach is always to wait for a stock to push through resistance with sustained price action, allow the noise to settle, and only then assess whether the setup justifies a trade. Had you simply opened a chart and seen the parabolic context, the trade would have looked very different to the headline number suggested. This is exactly why understanding context and reading charts matters more than reacting to news.

GPT Group (GPT) and the Real Estate Sector

Alex asked about GPT Group and the real estate sector outlook. If interest rates drop, these stocks should benefit substantially. GPT looks attractive from a long-term perspective, though a more conservative entry sits above the current resistance highs given how many times the stock has tested that level. If GPT and the banks both turn higher with strong moves through current resistance, that would shift the broader market view to being bullish for considerably longer. The risk is that any move runs out of steam and the stock reverses back into a sideways consolidation, which would be the signal to stay away.

Kogan.com (KGN)

Jake asked about KOGAN's short-term outlook. The $2.80 to $3 level has historically been a major springboard for previous rises, and the recent uptrend off the lows looks similar to the 2018 and 2022 setups that preceded major runs. The smallest historical rise from comparable bases was 214%, so the upside potential is substantial.

The stock has broken out of a price agreement zone, which is a positive sign of returning buyer interest. The next resistance sits around $6.40, representing 46% upside on the medium-term view, with $4.70 acting as an interim cluster level worth watching. Risk management is straightforward, with the prior bar low near $4 providing a logical stop level. Tighter or wider stops depend entirely on the strategy being employed, but the broader picture looks healthy.

Hot Stock Tip: Race Oncology (RAC)

The hot stock this week is Race Oncology, which strengthened its balance sheet by raising $34.3 million to fully fund three key cancer trials including its flagship AML program. While this is not a clinical breakthrough in itself, it significantly reduces funding risk and lets investors focus on upcoming trial results that will ultimately determine the company's future value.

Technically, the stock had a stellar 2,800% run from 2019 to its high before entering a contraction period. The chart shows sideways consolidation with strong support around the $2 mark, and the pattern bears a striking resemblance to a previous base that preceded a major rise. The current compression in price will eventually have to resolve, and the lower peaks combined with established base support suggest the next major move could be substantial.

Biotech plays often remain dormant while waiting for clinical trial results and regulatory approvals, which is why patience matters with this kind of stock. If the $2.30 low holds, the technical structure remains healthy. With humanity increasingly focused on living longer and biotech funding likely to expand once the current AI hype matures, this is a sector and a stock worth keeping firmly on the radar.

The Real Lesson: Now Is the Time to Get Educated

What links every stock discussed in this episode is that the setups available right now across the ASX are some of the cleanest we have seen in years. These opportunities, where quality stocks reset back to long-term momentum lines, do not appear often. Sometimes the gap between them is five, ten, or fifteen years. Most investors are focused on the political agenda, the war, or the obvious US tech names, while quietly the ASX is offering setups that could define the next decade.

If you cannot read charts yet, this is the moment to change that. Better to invest in yourself now so you can at least understand where the risk lies in your portfolio and your super, rather than discovering after the fact that you missed the opportunity or worse, got caught on the wrong side of a major move.

This is exactly what we focus on at Wealth Within. Our share trading education is built around teaching you how to identify these setups for yourself, so you are never reliant on someone else's view to make your decisions.

For those starting out, the Short Course in Share Trading provides the foundational skills needed to trade safely and confidently. If you are ready to commit to a comprehensive, government-accredited program, the Diploma of Share Trading and Investment teaches a proven five-step approach for becoming consistently profitable. And for graduates looking to refine their edge with techniques like time analysis and Elliott Wave, the Advanced stock trading course is the natural next step.

Final Thoughts

Eight ASX stocks, multiple sectors, and a common technical theme of high-quality names resetting back to long-term trend lines after extended pullbacks. St Barbara, WiseTech, WA1 Resources, IPH, Alpha HPA, Patriot Battery Metals, Digico, and Telix all offer compelling 100% upside potential, with Telix standing out as the analyst's top pick given the magnitude of the prior trend and the depth of the current pullback.

As always, the difference between catching these moves and watching them pass by comes down to skill, structure, and discipline. Identify the levels, wait for confirmation, and manage your risk. With the right education and approach, opportunities like these become far easier to act on with the certainty needed to commit capital with confidence.

Disclaimer: This article is general in nature and does not constitute personal financial advice. Always conduct your own research or consult a licensed adviser before making investment decisions.