Technical Analysis

ChartWatch ASX Scans: ANZ, Calix, Commbank, Develop Global, Mitre Mining, Metro Mining, NextDC

Wed 10 Jul 24, 9:00am (AEST)
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Key Points

  • Interesting uptrends in today's Scans: ANZ (ANZ), Black Cat Syndicate (BC8), Bisalloy Steel (BIS), CommBank (CBA), Droneshield (DRO), Emeco (EHL), EZZ Life Science (EZZ), Mitre Mining (MMC), Metro Mining (MMI), Nextdc (NXT), Westpac (WBC), and Zip Co (ZIP)
  • Interesting downtrends in today's Scans: Audinate (AD8), Aurizon (AZJ), Corporate Travel (CTD), Calix (CXL), Develop Global (DVP), Healthco Health & Wellness (HCW), James Hardie (JHX), Patriot Battery Metals (PMT), Vulcan Steel (VSL), and Worley (WOR)

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 %

Aristocrat Leisure

ALL

$51.52

+9.2%

+36.0%

Aurelia Metals

AMI

$0.210

+16.7%

+118.8%

Austin Engineering

ANG

$0.610

+15.1%

+110.3%

ANZ Group

ANZ

$29.29

+0.4%

+24.5%

BetaShares Asia Technology Tigers ETF

ASIA

$9.34

+5.1%

+28.7%

Black Cat Syndicate

BC8

$0.365

+17.7%

-5.2%

Bendigo and Adelaide Bank

BEN

$11.62

+2.9%

+34.3%

Bisalloy Steel

BIS

$4.60

+14.1%

+156.7%

Botanix Pharmaceuticals

BOT

$0.340

+21.4%

+223.8%

Commonwealth Bank of Australia

CBA

$128.69

+2.5%

+28.1%

Codan

CDA

$12.17

+10.7%

+59.9%

Droneshield

DRO

$2.15

+66.0%

+711.3%

Empire Energy

EEG

$0.265

+26.2%

+65.6%

Emeco

EHL

$0.790

+8.2%

+13.7%

Emerald Resources

EMR

$3.86

+1.0%

+73.1%

Electro Optic Systems

EOS

$1.660

+33.9%

+112.8%

EQT

EQT

$32.66

+0.4%

+28.2%

EZZ Life Science

EZZ

$1.920

+75.3%

+228.2%

FBR

FBR

$0.047

+88.0%

+80.8%

Frontier Energy

FHE

$0.520

+14.3%

+30.0%

Genusplus

GNP

$2.10

+12.3%

+105.9%

Horizon Oil

HZN

$0.200

+14.3%

+42.9%

Light & Wonder

LNW

$157.00

+5.2%

+51.1%

Loftus Peak Global Disruption ETF

LPGD

$4.82

+6.9%

+47.0%

Lycopodium

LYL

$13.41

+10.8%

+33.7%

Mitre Mining Corporation

MMC

$0.900

+21.6%

+246.2%

Metro Mining

MMI

$0.058

+18.4%

+152.2%

Vaneck Australian Banks ETF

MVB

$35.37

+1.6%

+25.7%

Mystate

MYS

$3.81

+1.6%

+16.9%

Nuix

NXL

$3.56

+26.7%

+318.8%

Nextdc

NXT

$18.44

+3.6%

+48.7%

Origin Energy

ORG

$10.83

+4.6%

+28.5%

Pinnacle Investment Management

PNI

$15.01

+12.8%

+53.9%

Pantoro

PNR

$0.098

+5.4%

+36.1%

Praemium

PPS

$0.520

+13.0%

-16.1%

Qube

QUB

$3.70

+0.3%

+30.3%

Rincon Resources

RCR

$0.145

+90.8%

+98.6%

REA Group

REA

$196.86

+4.5%

+36.8%

Retail Food Group

RFG

$0.080

+23.1%

+35.6%

Steadfast Group

SDF

$6.29

+13.3%

+5.2%

Global X Semiconductor ETF

SEMI

$18.73

+4.6%

+61.7%

Superloop

SLC

$1.575

+13.7%

+173.9%

Stanmore Resources

SMR

$3.95

+11.0%

+62.1%

Southern Cross Electrical Engineering

SXE

$1.760

+8.6%

+166.7%

Tuas

TUA

$4.70

+17.5%

+147.4%

VGI Partners Global Investments

VG1

$1.960

+2.6%

+19.9%

Ventia Services Group

VNT

$4.14

+12.2%

+38.0%

Westpac Banking Corporation

WBC

$27.68

+2.6%

+31.6%

Zip Co.

ZIP

$1.820

+52.3%

+333.3%

Today's Uptrends Scan List

Interesting charts from today's Uptrends List πŸ”ŽπŸ“ˆ

The stocks that I feel are showing the strongest excess demand from today's Uptrends List are: ANZ (ASX: ANZ), Black Cat Syndicate (ASX: BC8), Bendigo and Adelaide Bank (ASX: BEN), Bisalloy Steel (ASX: BIS), Commonwealth Bank of Australia (ASX: CBA), Codan (ASX: CDA), Droneshield (ASX: DRO), Emeco (ASX: EHL), EZZ Life Science (ASX: EZZ), Genusplus (ASX: GNP), Lycopodium (ASX: LYL), Mitre Mining Corporation (ASX: MMC), Metro Mining (ASX: MMI), Nextdc (ASX: NXT), Pinnacle Investment Management (ASX: PNI), Ventia Services (ASX: VNT), Westpac Banking Corporation (ASX: WBC), Zip Co. (ASX: ZIP).

Charts of each below:

ANZ Group (ASX-ANZ) chart 9 July 2024Black Cat Syndicate (ASX-BC8) chart 9 July 2024Bendigo and Adelaide Bank (ASX-BEN) chart 9 July 2024Bisalloy Steel Group (ASX-BIS) chart 9 July 2024Commonwealth Bank of Australia (ASX-CBA) chart 9 July 2024Droneshield (ASX-DRO) chart 9 July 2024Emeco (ASX-EHL) chart 9 July 2024EZZ Life Science (ASX-EZZ) chart 9 July 2024Genusplus Group (ASX-GNP) chart 9 July 2024Lycopodium (ASX-LYL) chart 9 July 2024Mitre Mining Corporation (ASX-MMC) chart 9 July 2024Metro Mining (ASX-MMI) chart 9 July 2024Nextdc (ASX-NXT) chart 9 July 2024Pinnacle Investment Management Group (ASX-PNI) chart 9 July 2024Ventia Services Group (ASX-VNT) chart 9 July 2024Westpac Banking Corporation (ASX-WBC) chart 9 July 2024Zip Co. (ASX-ZIP) chart 9 July 2024

Downtrends Scan List

Company

Code

Last Price

1mo %

1yr %

Aussie Broadband

ABB

$3.46

-1.4%

+15.7%

Australian Clinical Labs

ACL

$2.40

+3.9%

-29.4%

Audinate Group

AD8

$15.70

-2.3%

+74.4%

Australian Ethical Investment

AEF

$4.00

-8.7%

+25.0%

Amotiv

AOV

$10.10

-3.7%

+13.0%

APA Group

APA

$7.81

-9.0%

-20.6%

Eagers Automotive

APE

$10.11

-0.3%

-29.8%

Aurizon

AZJ

$3.58

-5.0%

-8.2%

Bannerman Energy

BMN

$3.10

-25.3%

+81.3%

Beach Energy

BPT

$1.500

-5.4%

+8.3%

Brainchip

BRN

$0.200

-11.1%

-42.9%

BWP Trust

BWP

$3.45

-7.3%

-5.0%

Credit Corp Group

CCP

$14.11

-3.2%

-28.1%

Champion Iron

CIA

$6.44

-2.3%

+11.2%

Centuria Industrial Reit

CIP

$3.04

-5.3%

-3.5%

Charter Hall Long Wale Reit

CLW

$3.34

-5.7%

-17.3%

Cromwell Property Group

CMW

$0.395

-7.1%

-28.8%

Charter Hall Social Infrastructure Reit

CQE

$2.36

-6.0%

-19.2%

Corporate Travel Management

CTD

$13.26

-1.0%

-27.7%

Cettire

CTT

$1.240

-47.5%

-65.0%

Clinuvel Pharmaceuticals

CUV

$14.58

-2.8%

-18.6%

Calix

CXL

$1.145

-7.7%

-74.2%

Core Lithium

CXO

$0.093

-11.4%

-90.4%

Domain Australia

DHG

$2.93

-1.7%

-19.9%

Deterra Royalties

DRR

$4.06

-11.4%

-11.2%

Develop Global

DVP

$2.05

-7.7%

-39.3%

Dexus

DXS

$6.45

-7.3%

-19.2%

Fortescue

FMG

$21.86

-10.3%

+0.5%

GDI Property Group

GDI

$0.560

-11.8%

-15.8%

Growthpoint Properties Australia

GOZ

$2.17

-10.0%

-22.2%

Healthco Healthcare and Wellness Reit

HCW

$1.065

-7.4%

-21.4%

Helia Group

HLI

$3.74

-10.7%

+15.3%

Iluka Resources

ILU

$6.68

-7.1%

-41.7%

Ioneer

INR

$0.140

-20.0%

-58.2%

James Hardie Industries

JHX

$46.71

+0.6%

+16.8%

Kogan.Com

KGN

$4.15

-5.7%

-18.9%

Lifestyle Communities

LIC

$12.23

-1.7%

-26.9%

Arcadium Lithium

LTM

$4.98

-22.6%

0%

Meteoric Resources

MEI

$0.130

-29.7%

-44.7%

Mineral Resources

MIN

$56.32

-17.9%

-19.5%

McMillan Shakespeare

MMS

$17.11

-0.4%

-3.7%

Monash IVF Group

MVF

$1.265

-5.2%

+12.9%

Mayne Pharma Group

MYX

$4.26

-9.7%

-6.2%

Nick Scali

NCK

$13.18

-6.5%

+41.4%

Nine Entertainment

NEC

$1.345

-3.9%

-32.2%

NIB

NHF

$6.88

-9.2%

-20.6%

Nufarm

NUF

$4.55

-6.4%

-11.8%

OOH!Media

OML

$1.335

-5.0%

+5.5%

Patriot Battery Metals

PMT

$0.500

-34.6%

-72.0%

Region Group

RGN

$2.13

-3.2%

-6.2%

Rio Tinto

RIO

$120.60

-3.8%

+7.1%

Reliance Worldwide Corporation

RWC

$4.40

-10.2%

+11.4%

Seek

SEK

$19.84

-14.4%

-12.3%

Smartgroup Corporation

SIQ

$8.24

-2.6%

+8.7%

Spark New Zealand

SPK

$3.68

-2.6%

-21.2%

Sayona Mining

SYA

$0.032

-17.9%

-82.2%

Transurban Group

TCL

$12.43

-2.9%

-12.0%

The Lottery Corporation

TLC

$4.88

-5.6%

-6.0%

Talga Group

TLG

$0.565

-2.6%

-61.4%

Temple & Webster Group

TPW

$8.95

-7.8%

+54.8%

Vulcan Steel

VSL

$6.37

-10.4%

-24.6%

Wildcat Resources

WC8

$0.280

-22.2%

+133.3%

Worley

WOR

$14.43

-0.4%

-9.7%

Waypoint Reit

WPR

$2.25

-7.0%

-12.5%

Today's Downtrends Scan List

Interesting charts from today's Downtrends List πŸ”ŽπŸ“‰

The stocks that I feel are showing the strongest excess supply from today's Downtrends List are: Audinate (ASX: AD8), APA (ASX: APA), Eagers Automotive (ASX: APE), Aurizon (ASX: AZJ), Corporate Travel Management (ASX: CTD), Calix (ASX: CXL), Develop Global (ASX: DVP), Healthco Healthcare and Wellness Reit (ASX: HCW), James Hardie Industries (ASX: JHX), Patriot Battery Metals (ASX: PMT), Seek (ASX: SEK), Vulcan Steel (ASX: VSL), Worley (ASX: WOR).

Charts of each below:

Audinate Group (ASX-AD8) chart 9 July 2024APA Group (ASX-APA) chart 9 July 2024Eagers Automotive (ASX-APE) chart 9 July 2024Aurizon (ASX-AZJ) chart 9 July 2024Corporate Travel Management (ASX-CTD) chart 9 July 2024Calix (ASX-CXL) chart 9 July 2024Develop Global (ASX-DVP) chart 9 July 2024Healthco Healthcare and Wellness Reit (ASX-HCW) chart 9 July 2024James Hardie Industries (ASX-JHX) chart 9 July 2024Patriot Battery Metals (ASX-PMT) chart 9 July 2024Seek (ASX-SEK) chart 9 July 2024Vulcan Steel (ASX-VSL) chart 9 July 2024Worley (ASX-WOR) chart 9 July 2024

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.

 

Written By

Carl Capolingua

Content Editor

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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