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/ChartWatch ASX Scans: Australian Clinical Labs, Aristocrat Leisure, Westpac, Zip Co., Grange Resources, Origin Energy, Talga Group
Technical Analysis
ChartWatch ASX Scans: Australian Clinical Labs, Aristocrat Leisure, Westpac, Zip Co., Grange Resources, Origin Energy, Talga Group
Tue 17 Sep 24, 9:00am (AEDT)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scans: Australian Clinical Labs (ACL), Aristocrat Leisure (ALL), Aspen (APZ), BCI Minerals (BCI), Catalyst Metals (CYL), Qantas (QAN), Sigma Healthcare (SIG), Telstra (TLS), WAM Strategic (WAR), Westpac (WBC), Zip (ZIP)
- Interesting downtrends in today's Scans: Eagers Automotive (APE), Grange Resources (GRR), Jumbo Interactive (JIN), Karoon Energy (KAR), Megaport (MP1), MonashIVF (MVF), Origin (ORG), Perpetual (PPT), Stanmore Resources (SMR), (TLG), Weebit Nano (WBT)
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 | $3.50 | +32.6% | +18.6% |
Aristocrat Leisure | ALL | $55.93 | +2.7% | +38.1% |
Ansell | ANN | $30.59 | +12.8% | +36.5% |
Aspen Group | APZ | $2.19 | +1.9% | +20.3% |
BCI Minerals | BCI | $0.310 | +29.2% | +17.6% |
Catalyst Metals | CYL | $2.81 | +35.7% | +456.4% |
Dalrymple Bay Infrastructure/Notes | DBI | $3.24 | +2.9% | +17.8% |
Future Generation Global | FGG | $1.355 | +5.4% | +13.9% |
Graincorp | GNC | $9.09 | +1.2% | +34.8% |
Growthpoint Properties Australia | GOZ | $2.70 | +18.4% | +19.5% |
Humm Group | HUM | $0.800 | +58.4% | +79.8% |
Lendlease Group | LLC | $7.16 | +12.8% | -2.2% |
Macmahon | MAH | $0.340 | +19.3% | +106.1% |
Motorcycle | MTO | $1.730 | +37.3% | -23.5% |
Vaneck Australian Banks ETF | MVB | $39.05 | +7.3% | +34.7% |
Qantas Airways | QAN | $7.03 | +15.4% | +26.2% |
Vaneck FTSE International Property (Hedged) ETF | REIT | $17.29 | +6.6% | +14.7% |
St Barbara | SBM | $0.275 | +31.0% | +48.6% |
Sigma Healthcare | SIG | $1.420 | +14.1% | +97.6% |
SRG Global | SRG | $1.075 | +24.3% | +60.4% |
Super Retail Group | SUL | $17.62 | +11.0% | +50.3% |
Suncorp Group | SUN | $18.26 | +6.3% | +33.2% |
Southern Cross Electrical Engineering | SXE | $1.860 | +3.9% | +138.5% |
Telstra Group | TLS | $4.01 | +1.3% | +3.6% |
Technology One | TNE | $23.16 | +3.2% | +48.4% |
WAM Strategic Value | WAR | $1.185 | +7.7% | +11.8% |
Westpac Banking Corporation | WBC | $32.79 | +10.6% | +53.4% |
Xero | XRO | $144.40 | +2.7% | +20.9% |
Zip Co. | ZIP | $2.41 | +10.0% | +745.6% |
Today's Uptrends Scan List
Feature charts from today's Uptrends List 🔎📈
Australian Clinical Labs (ASX: ACL), Aristocrat Leisure (ASX: ALL), Aspen Group (ASX: APZ), BCI Minerals (ASX: BCI), Catalyst Metals (ASX: CYL), Growthpoint Properties Australia (ASX: GOZ), Motorcycle (ASX: MTO), Qantas Airways (ASX: QAN), Sigma Healthcare (ASX: SIG), Telstra Group (ASX: TLS), WAM Strategic Value (ASX: WAR), Westpac Banking Corporation (ASX: WBC), Zip Co. (ASX: ZIP).
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
The A2 Milk Company | A2M | $5.46 | -22.1% | +24.9% |
Eagers Automotive | APE | $10.11 | -4.8% | -30.5% |
Brickworks | BKW | $25.30 | -5.9% | -9.4% |
Credit Corp Group | CCP | $14.92 | -5.0% | -29.9% |
Grange Resources | GRR | $0.240 | -17.2% | -46.1% |
Imugene | IMU | $0.050 | -3.8% | -16.7% |
Jumbo Interactive | JIN | $13.33 | -13.2% | -13.0% |
Karoon Energy | KAR | $1.450 | -19.9% | -41.2% |
Kelsian Group | KLS | $3.99 | -22.8% | -35.0% |
Megaport | MP1 | $7.39 | -32.9% | -32.8% |
Monash IVF Group | MVF | $1.155 | -16.3% | -7.6% |
New Hope Corporation | NHC | $4.25 | -15.3% | -27.4% |
NIB | NHF | $5.74 | -21.6% | -25.6% |
Novonix | NVX | $0.550 | -9.8% | -26.7% |
Origin Energy | ORG | $9.55 | -1.1% | +11.2% |
Perpetual | PPT | $18.55 | -13.0% | -7.3% |
Stanmore Resources | SMR | $2.67 | -17.3% | -11.4% |
Talga Group | TLG | $0.405 | -3.6% | -70.3% |
Weebit Nano | WBT | $1.890 | -5.0% | -52.2% |
Webjet | WEB | $7.47 | -11.1% | +9.2% |
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: Eagers Automotive (ASX: APE), Grange Resources (ASX: GRR), Jumbo Interactive (ASX: JIN), Karoon Energy (ASX: KAR), Megaport (ASX: MP1), Monash IVF Group (ASX: MVF), Origin Energy (ASX: ORG), Perpetual (ASX: PPT), Stanmore Resources (ASX: SMR), Talga Group (ASX: TLG), Weebit Nano (ASX: WBT).
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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