Evening Wrap: ASX 200 snags another record on stronger utilities, energy and financials, lithium and iron ore struggle again
Wed 18 Sep 24, 5:35pm (AEST)
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Technical Analysis
/ChartWatch ASX Scans: AI-Media Technologies, AMA Group, MFF Capital, Nanosonics, APA Group, Cochlear, Arcadium Lithium
Technical Analysis
ChartWatch ASX Scans: AI-Media Technologies, AMA Group, MFF Capital, Nanosonics, APA Group, Cochlear, Arcadium Lithium
Thu 05 Sep 24, 9:00am (AEST)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scans: AI-Media Technologies (AIM), AMA Group (AMA), Accent Group (AX1), Bega Cheese (BGA), Botanix Pharmaceuticals (BOT), Global Data Centre Group (GDC), Lendlease (LLC), MFF Capital Investments (MFF), Nanosonics (NAN)
- Interesting downtrends in today's Scans: APA (APA), BHP (BHP), Bannerman Energy (BMN), Beach Energy (BPT), Cochlear (COH), Deterra Royalties (DRR), Endeavour (EDV), Karoon Energy (KAR), Lifestyle Communities (LIC), Arcadium Lithium (LTM), Paladin (PDN)
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.
Uptrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
Australian Clinical Labs | ACL | $3.32 | +36.1% | +12.2% |
AI-Media Technologies | AIM | $0.585 | +42.7% | +129.4% |
AMA Group | AMA | $0.062 | +37.8% | -45.7% |
Bega Cheese | BGA | $5.12 | +21.9% | +70.7% |
Accent Group | AX1 | $2.35 | +12.4% | +14.6% |
Global Data Centre Group | GDC | $3.51 | +7.0% | +104.1% |
Capitol Health | CAJ | $0.320 | +8.5% | +42.2% |
Nuix | NXL | $4.89 | +61.9% | +213.5% |
Insurance Australia Group | IAG | $7.77 | +11.8% | +33.3% |
Ricegrowers | SGLLV | $8.65 | -1.1% | +30.1% |
Lendlease Group | LLC | $6.76 | +12.5% | -13.0% |
MFF Capital Investments | MFF | $3.94 | +4.8% | +30.5% |
Botanix Pharmaceuticals | BOT | $0.420 | +23.5% | +127.0% |
Nanosonics | NAN | $3.44 | +15.8% | -17.1% |
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: Interesting uptrends in today's Scans: AI-Media Technologies (AIM), AMA Group (AMA), Accent Group (AX1), Bega Cheese (BGA), Botanix Pharmaceuticals (BOT), Global Data Centre (GDC), Lendlease (LLC), MFF Capital (MFF), Nanosonics (NAN).
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
Ampol | ALD | $28.95 | -10.1% | -15.1% |
Amotiv | AOV | $10.01 | -1.5% | -16.9% |
APA Group | APA | $7.27 | -6.6% | -17.0% |
Bapcor | BAP | $4.75 | -0.8% | -28.0% |
Bellevue Gold | BGL | $1.145 | -8.0% | -32.2% |
BHP Group | BHP | $38.64 | -6.4% | -13.6% |
Brickworks | BKW | $26.23 | -4.7% | -5.3% |
Bannerman Energy | BMN | $1.990 | -19.8% | +2.3% |
Beach Energy | BPT | $1.160 | -17.4% | -26.8% |
Chalice Mining | CHN | $0.990 | -1.0% | -73.7% |
Collins Foods | CKF | $7.62 | -11.3% | -23.3% |
Cromwell Property Group | CMW | $0.395 | -4.8% | -16.0% |
Centuria Office Reit | COF | $1.175 | -3.3% | -7.8% |
Cochlear | COH | $294.51 | -10.3% | +9.7% |
Core Lithium | CXO | $0.088 | -2.2% | -78.0% |
Dicker Data | DDR | $9.00 | -6.2% | -9.8% |
De Grey Mining | DEG | $1.100 | -4.3% | -21.1% |
Domain Australia | DHG | $2.73 | -7.8% | -28.0% |
Domino's Pizza Enterprises | DMP | $30.05 | +1.2% | -44.9% |
Deterra Royalties | DRR | $3.40 | -10.3% | -24.8% |
Data#3 | DTL | $7.78 | -4.9% | +5.9% |
Develop Global | DVP | $1.970 | +0.8% | -29.9% |
Deep Yellow | DYL | $0.980 | 0% | +11.4% |
Endeavour Group | EDV | $4.96 | -6.4% | -9.3% |
EVT | EVT | $10.26 | -4.7% | -15.2% |
Fletcher Building | FBU | $2.50 | -10.1% | -44.6% |
Fleetpartners Group | FPR | $3.00 | -7.1% | +1.7% |
Grange Resources | GRR | $0.255 | -15.0% | -44.6% |
IGO | IGO | $5.07 | +1.8% | -63.0% |
Iluka Resources | ILU | $5.75 | +6.1% | -31.8% |
Inghams Group | ING | $3.03 | -15.6% | -13.2% |
Karoon Energy | KAR | $1.595 | -8.1% | -32.9% |
Kelsian Group | KLS | $3.81 | -24.0% | -40.0% |
Lifestyle Communities | LIC | $7.35 | -15.6% | -57.4% |
Arcadium Lithium | LTM | $3.57 | -11.0% | 0% |
Liontown Resources | LTR | $0.610 | -31.1% | -77.7% |
Macquarie Technology Group | MAQ | $76.41 | -12.3% | +14.4% |
Meteoric Resources | MEI | $0.091 | -2.2% | -54.5% |
Mineral Resources | MIN | $34.21 | -32.9% | -52.6% |
Monash IVF Group | MVF | $1.170 | -14.6% | -7.1% |
Nine Entertainment | NEC | $1.285 | -4.5% | -38.2% |
Nufarm | NUF | $3.74 | -15.2% | -28.4% |
Novonix | NVX | $0.560 | -10.4% | -43.1% |
Paladin Energy | PDN | $8.65 | -13.5% | +2.4% |
Pilbara Minerals | PLS | $2.58 | -7.9% | -45.1% |
Patriot Battery Metals | PMT | $0.385 | -12.5% | -70.4% |
Platinum Asset Management | PTM | $0.965 | -3.0% | -32.0% |
Power | PWH | $9.04 | -17.9% | -15.4% |
Red 5 | RED | $0.290 | -15.9% | +20.8% |
Ramsay Health Care | RHC | $39.61 | -9.4% | -22.7% |
Skycity Entertainment Group | SKC | $1.315 | -7.1% | -39.4% |
Silex Systems | SLX | $3.60 | -14.7% | +9.8% |
Stanmore Resources | SMR | $2.73 | -19.0% | -5.7% |
Spark New Zealand | SPK | $3.27 | -17.2% | -29.5% |
Syrah Resources | SYR | $0.205 | -14.6% | -62.7% |
Tabcorp | TAH | $0.395 | -33.1% | -64.3% |
Viva Energy Group | VEA | $2.87 | -7.1% | -9.2% |
Whitehaven Coal | WHC | $6.14 | -17.1% | -3.0% |
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: APA Group (ASX: APA), BHP Group (ASX: BHP), Bannerman Energy (ASX: BMN), Beach Energy (ASX: BPT), Cochlear (ASX: COH), Deterra Royalties (ASX: DRR), Endeavour Group (ASX: EDV), Fletcher Building (ASX: FBU), Grange Resources (ASX: GRR), Inghams Group (ASX: ING), Karoon Energy (ASX: KAR), Lifestyle Communities (ASX: LIC), Arcadium Lithium (ASX: LTM), Mineral Resources (ASX: MIN), Nine Entertainment (ASX: NEC), Nufarm (ASX: NUF), Paladin Energy (ASX: PDN), Pilbara Minerals (ASX: PLS), Patriot Battery Metals (ASX: PMT), Spark New Zealand (ASX: SPK).
Charts of each below:
ChartWatch ASX Scans Criteria
Criteria for Uptrends List
Short term uptrend (ST trend ribbon is light green)
Long term uptrend or long term trend is transitioning from down to up (LT trend ribbon is dark green, or LT trend ribbon is amber and contracting)
Demand-side price action (rising peaks and rising troughs is preferred, but based upon weight of evidence of other criteria rising peaks only or rising troughs only may be permitted)
Predominance of demand-side candles (i.e., white bodies and or downward pointing shadows)
The last candle in particular is a strong demand-side candle
Criteria for Downtrends List
Short term downtrend (ST trend ribbon is light pink)
Long term downtrend or long term trend is transitioning from up to down (LT trend ribbon is dark pink, or LT trend ribbon is amber and contracting)
Supply-side price action (falling peaks and falling troughs is preferred, but based upon weight of evidence of other criteria falling peaks only or falling troughs only may be permitted)
Predominance of supply-side candles (i.e., black bodies and or upward pointing shadows)
The last candle in particular is a strong supply-side candle
Important considerations when using the ChartWatch ASX Scan Lists:
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.
Carl has over 30-years investing experience, helping investors navigate several bull and bear markets over this time. He is a well respected markets commentator who specialises in how the global macro impacts Australian and US equities. Carl has a passion for technical analysis and has taught his unique brand of price-action trend following to thousands of Aussie investors.
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