ChartWatch ASX Scans: A fine balance of potential longs (CBA, NST, 360, GMG) and shorts (DMP, IEL, ELD, NUF)
Your daily dose of the most interesting uptrends and downtrends on the ASX with technical analysis from an expert.
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Mentioned
KEY POINTS
- Interesting uptrends in today's Scans: Life360 (360), Global X Uranium ETF (ATOM), Bluebet (BBT), Brambles (BXB), EDU (EDU), Elsight (ELS), Energy One (EOL), Evolution Mining (EVN), Fineos Corporation (FCL), Northern Star Resources (NST), WIA Gold (WIA).
- Interesting downtrends in today's Scans: Avita Medical (AVH), Cettire (CTT), Domino's Pizza Enterprises (DMP), Guzman y Gomez (GYG), HMC Capital (HMC), IDP Education (IEL), Macquarie Technology (MAQ), Mesoblast (MSB), Nufarm (NUF).
In case you missed yesterday's update, ChartWatch ASX Scans turned 1 on Friday so we're going to make this week Birthday Week for Australia's best daily and free technical analysis scan list! 💪
Happy birthday ChartWatch ASX Scans! 🎂🥳
Each trading day for just over a year now, I have scanned over 2,000 ASX stocks daily to bring you the best uptrends and downtrends across the entire Aussie share market. I shortlist these, and again, to create the Uptrends and Downtrends Scan Lists – and then one more time to select the Feature Uptrends and Feature Downtrends – i.e., my highest conviction trends.
Yesterday, I recapped the Top 5 most Featured Uptrends since ChartWatch ASX Scans began, so today I'll recap the most Featured Uptrends. I couldn't stop at 5, there were just too many great 💥 implosions 💥 that ChartWatch absolutely nailed this last year. These are the best of them (i.e., if you were short!):
Stock Name | Times Featured | Date 1st Feature | 1st Feature Price | Last Price | Last Chg% | MFE Price | MFE Chg % |
|---|---|---|---|---|---|---|---|
Coronado Global Resources (CRN) | 62 | 27/05/2024 | 1.115 | 0.115 | -89.7% | 0.11 | -90.1% |
Ramsay Health Care (RHC) | 44 | 21/06/2024 | 48.53 | 36.2 | -25.4% | 31.66 | -34.8% |
IGO (IGO) | 43 | 5/06/2024 | 6.82 | 4.26 | -37.5% | 3.09 | -54.7% |
Domino's Pizza (DMP) | 41 | 28/05/2024 | 36.52 | 23.75 | -35.0% | 23.62 | -35.3% |
Cettire (CTT) | 40 | 19/06/2024 | 2.22 | 0.43 | -80.6% | 0.42 | -81.1% |
Mineral Resources (MIN) | 38 | 18/07/2024 | 55.84 | 24.08 | -56.9% | 14.05 | -74.8% |
Iluka Resources (ILU) | 38 | 6/06/2024 | 7.12 | 3.9 | -45.2% | 3.14 | -55.9% |
Liontown Resources (LTR) | 38 | 3/07/2024 | 0.91 | 0.63 | -30.8% | 0.42 | -53.8% |
IDP Education (IEL) | 35 | 20/06/2024 | 14.81 | 8.15 | -45.0% | 8.01 | -45.9% |
Pilbara Minerals (PLS) | 35 | 24/06/2024 | 3.11 | 1.385 | -55.5% | 1.225 | -60.6% |
Audinate Group (AD8) | 35 | 27/05/2024 | 15.98 | 7.59 | -52.5% | 5.3 | -66.8% |
Woodside Energy Group (WDS) | 33 | 5/06/2024 | 27.14 | 21.31 | -21.5% | 18.61 | -31.4% |
That's quite a Top 12! On average, these 12 stocks are currently down 48.0% based upon their respective last prices, but were down 57.1% based on their respective maximum favourable excursions ("MFE"). Remember, down 100% is the maximum upside for a short trade.
This list demonstrates the power of trend following over fundamental analysis and taking advice from value investors who may have claimed these stocks were "too cheap". Nothing speaks louder than price, and one must be very brave to ignore its message.
Welcome to my ChartWatch Daily ASX Scans series. Here I present scan lists based on my trend following technical analysis methodology. My goal is to alert you to the best uptrends and downtrends on the ASX.
Feel free to get your favourite AI to convert the tables below into lists you can upload to your favourite trading platform like TradingView. Then you'll be able to skip from chart to chart and quickly and easily see the best uptrends and downtrends on the ASX.
Some investors prefer to buy those stocks in strong uptrends, and avoid, sell, or short sell those stocks in strong downtrends – but how you use the lists is really up to you!
Note, many stocks in both lists have appeared there many times before. As long as they keep meeting my criteria – they'll keep appearing. But note, there won't be any notifications when they don't, so you'll have to do your own research on when a particular trend changes!
Uptrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Life360 | 360 | $32.13 | +56.8% | +94.1% |
Astral Resources | AAR | $0.175 | +6.1% | +124.4% |
Aml3d | AL3 | $0.170 | +21.4% | +157.6% |
AMA Group | AMA | $0.089 | +34.8% | +121.2% |
Aspen Group | APZ | $3.45 | +13.5% | +106.0% |
Autosports Group | ASG | $2.21 | +20.8% | -3.1% |
Global X Uranium ETF | ATOM | $17.69 | +35.2% | +2.9% |
BetaShares Strong Australian Dollar Fund ETF | AUDS | $5.86 | +6.4% | -9.6% |
Aurum Resources | AUE | $0.490 | +28.9% | +58.1% |
Bluebet | BBT | $0.390 | +32.2% | +62.5% |
Brambles | BXB | $22.15 | +6.1% | +55.4% |
Commonwealth Bank of Australia | CBA | $173.88 | +5.6% | +43.1% |
COG Financial Services | COG | $1.500 | +7.1% | +31.0% |
Digitalx | DCC | $0.075 | +44.2% | +49.7% |
Elanor Commercial Property Fund | ECF | $0.645 | +18.3% | -9.4% |
EDU | EDU | $0.200 | +42.9% | +33.3% |
Elsight | ELS | $0.650 | +46.1% | +78.1% |
iShares MSCI Emerging Markets EX China ETF | EMXC | $27.81 | +8.4% | 0% |
Energy One | EOL | $14.35 | +20.7% | +234.6% |
Evolution Mining | EVN | $9.07 | +13.5% | +127.9% |
Fineos Corporation | FCL | $2.59 | +30.2% | +59.4% |
Fleetwood | FWD | $2.85 | +5.9% | +105.8% |
Goodman Group | GMG | $32.84 | +14.3% | -2.7% |
Lynas Rare Earths | LYC | $8.15 | -1.7% | +15.3% |
Medallion Metals | MM8 | $0.275 | +17.0% | +409.3% |
Megaport | MP1 | $12.91 | +23.2% | -13.9% |
Northern Star Resources | NST | $20.95 | +0.5% | +42.6% |
OOH!Media | OML | $1.680 | +14.3% | +9.4% |
Orica | ORI | $18.64 | +16.9% | -0.8% |
Pro Medicus | PME | $274.60 | +30.3% | +139.2% |
Resolute Mining | RSG | $0.635 | +35.1% | +25.7% |
Shape Australia Corporation | SHA | $3.30 | +10.0% | +55.7% |
Sigma Healthcare | SIG | $3.15 | +4.7% | +153.0% |
Strickland Metals | STK | $0.120 | +26.3% | +23.7% |
Tabcorp | TAH | $0.705 | +28.2% | +10.2% |
Tyro Payments | TYR | $0.890 | +21.9% | +6.0% |
Unibail-Rodamco-Westfield | URW | $6.93 | +7.1% | +8.3% |
West African Resources | WAF | $2.68 | +10.7% | +75.7% |
WIA Gold | WIA | $0.230 | +15.0% | +91.7% |
Global X Copper Miners ETF | WIRE | $12.97 | +6.6% | -16.4% |
Today's Uptrends Scan List
Feature Charts from today's Uptrends List 🔎📈
The stocks that I feel are showing the strongest excess demand from today's Uptrends List are: Life360 (ASX: 360), AMA Group (ASX: AMA), Aspen Group (ASX: APZ), Autosports Group (ASX: ASG), Global X Uranium ETF (ASX: ATOM), Bluebet (ASX: BBT), Brambles (ASX: BXB), COG Financial Services (ASX: COG), EDU (ASX: EDU), Elsight (ASX: ELS), Energy One (ASX: EOL), Evolution Mining (ASX: EVN), Fineos Corporation (ASX: FCL), Northern Star Resources (ASX: NST), WIA Gold (ASX: WIA).
Charts of each below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
ANZ Group | ANZ | $28.66 | -0.6% | +0.1% |
Amotiv | AOV | $7.78 | +1.6% | -27.4% |
ARB Corporation | ARB | $30.20 | -1.1% | -18.4% |
Avita Medical | AVH | $1.960 | -35.1% | -21.6% |
Credit Corp Group | CCP | $13.15 | +5.7% | -6.7% |
Champion Iron | CIA | $4.36 | +0.5% | -43.2% |
Cettire | CTT | $0.430 | -9.5% | -82.1% |
Clinuvel Pharmaceuticals | CUV | $10.43 | -5.3% | -30.6% |
Domino's Pizza Enterprises | DMP | $23.75 | -6.8% | -35.3% |
Elders | ELD | $6.16 | +0.5% | -26.1% |
Guzman y Gomez | GYG | $30.45 | -7.4% | 0% |
Helloworld Travel | HLO | $1.480 | +1.4% | -35.7% |
Healius | HLS | $0.955 | -6.1% | +3.2% |
HMC Capital | HMC | $5.06 | +8.4% | -28.0% |
IDP Education | IEL | $8.15 | 0% | -53.1% |
Insignia Financial | IFL | $3.30 | -11.1% | +47.3% |
Immutep | IMM | $0.280 | +12.0% | -39.9% |
IPD Group | IPG | $3.43 | -14.0% | -20.0% |
Lindsay Australia | LAU | $0.665 | -5.7% | -28.9% |
Larvotto Resources | LRV | $0.615 | -29.3% | +527.6% |
Macquarie Technology Group | MAQ | $58.82 | +0.4% | -31.0% |
Mesoblast | MSB | $1.615 | -9.8% | +50.2% |
Nufarm | NUF | $2.50 | -35.6% | -50.9% |
OFX Group | OFX | $0.720 | -33.9% | -64.0% |
Propel Funeral Partners | PFP | $4.56 | -13.6% | -17.2% |
Skycity Entertainment Group | SKC | $0.885 | -16.5% | -47.3% |
Treasury Wine Estates | TWE | $8.25 | -6.4% | -28.7% |
Vulcan Energy Resources | VUL | $4.09 | -12.4% | -15.1% |
Wildcat Resources | WC8 | $0.155 | -20.5% | -68.7% |
Today's Downtrends Scan List
Feature Charts from today's Downtrends List 🔎📉
The stocks that I feel are showing the strongest excess supply from today's Downtrends List are: Avita Medical (ASX: AVH), Credit Corp Group (ASX: CCP), Cettire (ASX: CTT), Domino's Pizza Enterprises (ASX: DMP), Guzman y Gomez (ASX: GYG), HMC Capital (ASX: HMC), IDP Education (ASX: IEL), Insignia Financial (ASX: IFL), IPD Group (ASX: IPG), Larvotto Resources (ASX: LRV), Macquarie Technology Group (ASX: MAQ), Mesoblast (ASX: MSB), Nufarm (ASX: NUF), OFX Group (ASX: OFX), Propel Funeral Partners (ASX: PFP), Skycity Entertainment Group (ASX: SKC).
Charts of each below:
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Important considerations when using the ChartWatch Daily ASX Scans:
1. The future is unknown. Anything can happen to change the trends in the lists above. A stock in a perfect uptrend or downtrend may not remain that way by the close of trading today. 2. These lists are not exhaustive, they are curated by Carl. You will find that certain stocks might not appear in a particular list on consecutive days but might reappear when Carl feels it deserves to return to the list. 3. This is not a recommendation service, merely an aid to help you better understand the workings of Carl’s technical analysis model in a practical way. Carl will not alert you to stocks that have dropped off a list because their trend has changed – it is up to you to apply the criteria to determine why a particular stock might not still be included. 4. This is general, educational information only – always do your own research.
