Evening Wrap: ASX 200 slumps on escalating Mid-East conflict, but golden lining for war winners energy and gold stocks
Fri 04 Oct 24, 5:21pm (AEDT)
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Technical Analysis
/ChartWatch ASX Scans: ANZ, Nuix, Resmed, Stealth Group, Westpac, BHP, IGO, Paladin Energy, Pilbara Minerals, Tabcorp
Technical Analysis
ChartWatch ASX Scans: ANZ, Nuix, Resmed, Stealth Group, Westpac, BHP, IGO, Paladin Energy, Pilbara Minerals, Tabcorp
Mon 09 Sep 24, 9:00am (AEDT)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scans: AI-Media Technologies (AIM), AMA (AMA), ANZ (ANZ), Bank of Queensland (BOQ), Brambles (BXB), Clarity Pharmaceuticals (CU6), Guzman y Gomez (GYG), Hub24 (HUB), Humm (HUM), JB HI-FI (JBH), Macquarie (MQG)
- Interesting downtrends in today's Scans: BHP (BHP), Bannerman (BMN), Boss Energy (BOE), Chalice Mining (CHN), Champion Iron (CIA), Develop Global (DVP), Deep Yellow (DYL), IGO (IGO), Karoon Energy (KAR), Liontown Resources (LTR), Whitehaven Coal (WHC)
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 % |
Apiam Animal Health | AHX | $0.480 | +24.7% | +20.0% |
AI-Media Technologies | AIM | $0.600 | +51.9% | +106.9% |
Aristocrat Leisure | ALL | $54.89 | +6.0% | +31.2% |
AMA Group | AMA | $0.063 | +40.0% | -40.8% |
ANZ Group | ANZ | $31.79 | +15.0% | +26.2% |
Black Cat Syndicate | BC8 | $0.375 | +29.3% | +66.7% |
Biome Australia | BIO | $0.770 | +69.2% | +541.7% |
Bank of Queensland | BOQ | $6.43 | +5.9% | +12.2% |
Breville Group | BRG | $33.89 | +23.1% | +41.0% |
Brambles | BXB | $18.63 | +26.4% | +22.8% |
Commonwealth Bank of Australia | CBA | $143.47 | +11.1% | +40.4% |
Charter Hall Group | CHC | $15.60 | +31.1% | +47.6% |
Charter Hall Long Wale Reit | CLW | $3.92 | +12.3% | +10.7% |
Coles Group | COL | $18.68 | +2.6% | +17.2% |
Charter Hall Social Infrastructure Reit | CQE | $2.75 | +9.1% | -2.1% |
Clarity Pharmaceuticals | CU6 | $7.23 | +26.0% | +565.4% |
Cedar Woods Properties | CWP | $5.61 | +14.7% | +7.3% |
Fisher & Paykel Healthcare Corporation | FPH | $34.68 | +15.1% | +67.0% |
iShares Physical Gold ETF | GLDN | $29.87 | +2.4% | 0% |
Guzman y Gomez | GYG | $38.50 | +33.6% | 0% |
Hub24 | HUB | $55.46 | +16.3% | +67.9% |
Humm Group | HUM | $0.745 | +56.8% | +71.3% |
Insurance Australia Group | IAG | $7.77 | +11.2% | +34.9% |
Infratil | IFT | $11.08 | +14.0% | +19.4% |
JB HI-FI | JBH | $82.00 | +24.8% | +80.8% |
Lendlease Group | LLC | $6.91 | +15.4% | -12.8% |
Macquarie Group | MQG | $225.17 | +12.7% | +27.3% |
Motorcycle | MTO | $1.655 | +46.5% | -25.3% |
Vaneck Australian Property ETF | MVA | $23.88 | +9.9% | +15.0% |
Vaneck Australian Banks ETF | MVB | $39.00 | +13.3% | +34.3% |
Myer | MYR | $0.870 | +11.5% | +24.3% |
National Australia Bank | NAB | $39.05 | +10.6% | +34.6% |
Nanosonics | NAN | $3.56 | +18.7% | -16.8% |
Nuix | NXL | $4.90 | +59.1% | +204.3% |
Pro Medicus | PME | $155.16 | +24.6% | +112.1% |
Resmed Inc | RMD | $36.57 | +12.5% | +49.1% |
Ramelius Resources | RMS | $2.19 | +20.3% | +66.5% |
Scentre Group | SCG | $3.50 | +5.7% | +27.7% |
Stealth Group | SGI | $0.370 | +85.0% | +196.0% |
Santana Minerals | SMI | $1.920 | +58.0% | +236.8% |
Summit Minerals | SUM | $0.255 | +50.0% | +59.4% |
Suncorp Group | SUN | $17.99 | +10.7% | +31.8% |
Turaco Gold | TCG | $0.265 | +15.2% | +390.7% |
Unibail-Rodamco-Westfield | URW | $6.18 | +12.8% | +52.2% |
Vysarn | VYS | $0.460 | +12.2% | +124.4% |
Westpac Banking Corporation | WBC | $32.10 | +15.3% | +49.9% |
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: AI-Media Technologies (ASX: AIM), AMA Group (ASX: AMA), ANZ Group (ASX: ANZ), Bank of Queensland (ASX: BOQ), Brambles (ASX: BXB), Clarity Pharmaceuticals (ASX: CU6), Fisher & Paykel Healthcare Corporation (ASX: FPH), Guzman y Gomez (ASX: GYG), Hub24 (ASX: HUB), Humm Group (ASX: HUM), JB HI-FI (ASX: JBH), Macquarie Group (ASX: MQG), Vaneck Australian Banks ETF (ASX: MVB), National Australia Bank (ASX: NAB), Nuix (ASX: NXL), Pro Medicus (ASX: PME), Resmed Inc (ASX: RMD), Stealth Group (ASX: SGI), Santana Minerals (ASX: SMI), Westpac Banking Corporation (ASX: WBC).
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
Australian Agricultural Company | AAI | $44.25 | 0% | 0% |
Adriatic Metals | ADT | $2.79 | +7.7% | -26.6% |
Australian Ethical Investment | AEF | $3.86 | +1.6% | -15.7% |
Ampol | ALD | $28.48 | -11.2% | -16.2% |
APA Group | APA | $7.23 | -7.7% | -17.8% |
Bellevue Gold | BGL | $1.135 | -8.8% | -31.2% |
BHP Group | BHP | $38.45 | -4.4% | -16.6% |
Bannerman Energy | BMN | $1.945 | -18.6% | -5.6% |
Boss Energy | BOE | $2.45 | -14.6% | -37.5% |
Beach Energy | BPT | $1.105 | -20.5% | -30.9% |
Brainchip | BRN | $0.155 | -8.8% | -50.0% |
Chalice Mining | CHN | $0.945 | -4.5% | -71.5% |
Champion Iron | CIA | $5.47 | -5.2% | -12.2% |
Coronado Global Resources | CRN | $0.885 | -31.4% | -46.4% |
Core Lithium | CXO | $0.083 | -10.8% | -79.3% |
Dicker Data | DDR | $8.90 | -5.9% | -10.9% |
De Grey Mining | DEG | $1.070 | -2.3% | -24.1% |
Data#3 | DTL | $7.65 | -5.8% | +4.8% |
Develop Global | DVP | $1.965 | +0.3% | -28.3% |
Deep Yellow | DYL | $0.940 | +0.5% | +2.7% |
Insignia Financial | IFL | $2.26 | -11.4% | -13.4% |
IGO | IGO | $5.08 | -0.2% | -64.8% |
Iluka Resources | ILU | $5.64 | +2.0% | -33.3% |
Karoon Energy | KAR | $1.470 | -15.3% | -42.7% |
Arcadium Lithium | LTM | $3.44 | -17.5% | 0% |
Liontown Resources | LTR | $0.595 | -30.0% | -78.3% |
Macquarie Technology Group | MAQ | $76.51 | -12.6% | +13.1% |
Mineral Resources | MIN | $30.65 | -39.8% | -58.3% |
McMillan Shakespeare | MMS | $16.07 | -6.0% | -11.4% |
Megaport | MP1 | $7.65 | -23.0% | -35.7% |
Neuren Pharmaceuticals | NEU | $13.56 | -20.7% | +6.9% |
New Hope Corporation | NHC | $4.15 | -13.7% | -28.9% |
Nickel Industries | NIC | $0.755 | 0% | -7.9% |
Nufarm | NUF | $3.74 | -13.8% | -29.6% |
Novonix | NVX | $0.545 | -10.7% | -39.8% |
Nexgen Energy | NXG | $7.96 | -4.1% | -18.8% |
Paladin Energy | PDN | $8.33 | -15.9% | -10.9% |
Pilbara Minerals | PLS | $2.41 | -19.1% | -48.7% |
Platinum Asset Management | PTM | $0.935 | -6.5% | -33.9% |
Siteminder | SDR | $4.86 | -4.5% | +1.0% |
Skycity Entertainment Group | SKC | $1.305 | -6.5% | -30.2% |
Spark New Zealand | SPK | $3.26 | -17.7% | -29.0% |
Santos | STO | $6.92 | -9.4% | -12.2% |
Sayona Mining | SYA | $0.023 | -17.9% | -80.0% |
Tabcorp | TAH | $0.385 | -30.0% | -65.0% |
Talga Group | TLG | $0.405 | -1.2% | -71.6% |
Treasury Wine Estates | TWE | $11.15 | -5.2% | -3.5% |
Vulcan Energy Resources | VUL | $3.70 | -1.1% | +8.5% |
Weebit Nano | WBT | $1.930 | -4.0% | -54.3% |
Wildcat Resources | WC8 | $0.200 | -16.7% | -45.2% |
Woodside Energy Group | WDS | $24.02 | -3.7% | -36.8% |
Whitehaven Coal | WHC | $5.77 | -23.0% | -9.0% |
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: Ampol (ASX: ALD), APA Group (ASX: APA), BHP Group (ASX: BHP), Bannerman Energy (ASX: BMN), Boss Energy (ASX: BOE), Chalice Mining (ASX: CHN), Champion Iron (ASX: CIA), Coronado Global Resources (ASX: CRN), Dicker Data (ASX: DDR), Develop Global (ASX: DVP), Deep Yellow (ASX: DYL), IGO (ASX: IGO), Karoon Energy (ASX: KAR), Arcadium Lithium (ASX: LTM), Liontown Resources (ASX: LTR), Macquarie Technology Group (ASX: MAQ), Mineral Resources (ASX: MIN), New Hope Corporation (ASX: NHC), Nickel Industries (ASX: NIC), Nexgen Energy (ASX: NXG), Paladin Energy (ASX: PDN), Pilbara Minerals (ASX: PLS), Tabcorp (ASX: TAH), Vulcan Energy Resources (ASX: VUL), Weebit Nano (ASX: WBT), Wildcat Resources (ASX: WC8), Woodside Energy Group (ASX: WDS), Whitehaven Coal (ASX: WHC).
Charts of each below:
There are too many Feature Downtrends to show all of their charts, and I can't split them in terms of quality, so I asked ChatGPT to randomly pick 12 for display 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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