ChartWatch ASX Scans: BHP, FMG, PLS and NHC threaten deeper losses, strength remains in CBA, AZY, and RRL
Your daily dose of the most interesting uptrends and downtrends on the ASX with technical analysis from an expert.
Source: Shutterstock
KEY POINTS
- Interesting uptrends in today's Scans: Alkane Resources (ALK), Antipa Minerals (AZY), Commonwealth Bank of Australia (CBA), Global X Physical Silver ETF (ETPMAG) & Physical Gold ETF (GOLD), Regis Resources (RRL), Strickland Metals (STK).
- Interesting downtrends in today's Scans: AMP (AMP), Appen (APX), BHP Group (BHP), Champion Iron (CIA), Cochlear (COH), CSL (CSL), Domino's Pizza (DMP),Fortescue (FMG), Goodman Group (GMG), Paladin Energy (PDN), Pilbara Minerals (PLS), Zip Co. (ZIP).
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.
Feature uptrends: 10
Feature downtrends: 58
That can't be good ⚠️🤔!!!
As a trend follower, I can see in the results of my scans long before I will see in the newspaper headlines that something is wrong with the Australian Market. If you've been following along here for some time, you will know that there have been consistently more downtrends appearing in the table below than uptrends for several months now.
Some may choose to use my downtrends lists as candidates for short selling. Those who did so since the start of the year, quite possibly enjoyed some fantastic price declines across the ASX – many in popular "blue-chip" stocks like Cochlear (COH), CSL (CSL), Domino's Pizza Enterprises and Goodman Group (GMG), and previous market darlings like Audinate Group (AD8), Paladin Energy (PDN), Pilbara Minerals (PLS), and Zip Co. (ZIP).
I don't know where the market is going next, I don't prognosticate – I follow – but I am confident the trends I identify here are the best examples of demand-side and supply-side control.
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 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 % |
|---|---|---|---|---|
Aura Energy | AEE | $0.160 | +23.1% | -5.9% |
Air New Zealand | AIZ | $0.575 | +3.6% | +3.6% |
Alkane Resources | ALK | $0.700 | +13.8% | +20.7% |
Aurelia Metals | AMI | $0.260 | +30.0% | +73.3% |
Aspen Group | APZ | $2.79 | +3.3% | +61.7% |
Antipa Minerals | AZY | $0.480 | +31.5% | +300.0% |
BetaShares Australian Strong Bear ETF | BBOZ | $29.32 | +8.6% | +3.6% |
BetaShares Australian Equities Bear ETF | BEAR | $8.18 | +4.1% | +3.6% |
Commonwealth Bank of Australia | CBA | $150.93 | -3.7% | +25.8% |
COG Financial Services | COG | $1.125 | +11.9% | -21.3% |
Charter Hall Retail Reit | CQR | $3.58 | +6.9% | -2.7% |
Catalyst Metals | CYL | $5.78 | +43.1% | +775.8% |
Global X Physical Silver ETF | ETPMAG | $50.58 | +8.9% | +45.6% |
Global X Physical Precious Metal Basket | ETPMPM | $289.87 | +7.2% | +39.4% |
Global X Physical Gold ETF | GOLD | $45.55 | +7.8% | +48.1% |
Magnetic Resources | MAU | $1.505 | +20.4% | +46.1% |
Meeka Metals | MEK | $0.155 | +24.0% | +307.9% |
Medallion Metals | MM8 | $0.255 | +59.4% | +355.4% |
Omni Bridgeway | OBL | $1.420 | +6.8% | +9.2% |
Regis Resources | RRL | $3.92 | +22.5% | +104.2% |
Shape Australia Corporation | SHA | $3.25 | +11.3% | +72.4% |
Select Harvests | SHV | $4.97 | +9.0% | +20.5% |
Strickland Metals | STK | $0.110 | +52.8% | +25.0% |
Solvar | SVR | $1.440 | +2.1% | +35.8% |
Southern Cross Electrical Engineering | SXE | $1.660 | -7.8% | +64.4% |
Unico Silver | USL | $0.270 | +54.3% | +125.0% |
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: Alkane Resources (ASX: ALK), Aspen Group (ASX: APZ), Antipa Minerals (ASX: AZY), BetaShares Australian Strong Bear ETF (ASX: BBOZ), Commonwealth Bank of Australia (ASX: CBA), Global X Physical Silver ETF (ASX: ETPMAG), Global X Physical Precious Metal Basket (ASX: ETPMPM), Global X Physical Gold ETF (ASX: GOLD), Regis Resources (ASX: RRL), Strickland Metals (ASX: STK),
Charts of each below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
29METALS | 29M | $0.160 | -3.0% | -66.7% |
Life360 | 360 | $19.81 | -15.0% | +51.3% |
4DMEDICAL | 4DX | $0.270 | -29.9% | -56.1% |
Alcoa Corporation | AAI | $48.17 | -9.2% | 0% |
Abacus Group | ABG | $1.090 | -6.0% | -11.0% |
Audinate Group | AD8 | $6.21 | -26.6% | -71.0% |
Adairs | ADH | $2.11 | -8.7% | -18.8% |
Ampol | ALD | $23.42 | -11.7% | -40.7% |
AMP | AMP | $1.235 | -8.9% | +6.9% |
Amotiv | AOV | $8.89 | -10.7% | -24.9% |
Appen | APX | $1.025 | -21.5% | +70.8% |
ARB Corporation | ARB | $32.05 | -16.8% | -22.3% |
Arena Reit. | ARF | $3.45 | -6.0% | -12.0% |
Avita Medical | AVH | $2.72 | -4.6% | -44.7% |
Bapcor | BAP | $4.52 | -12.2% | -27.4% |
BHP Group | BHP | $38.20 | -2.2% | -12.5% |
Brainchip | BRN | $0.205 | -2.4% | -37.9% |
Credit Corp Group | CCP | $13.81 | -9.0% | -22.7% |
Chalice Mining | CHN | $1.145 | -15.2% | +6.5% |
Champion Iron | CIA | $4.86 | -10.5% | -33.2% |
Charter Hall Long Wale Reit | CLW | $3.69 | -4.2% | -1.3% |
Cochlear | COH | $262.30 | +1.3% | -22.1% |
Capstone Copper Corp. | CSC | $8.51 | -10.8% | 0% |
CSL | CSL | $249.28 | -4.3% | -12.9% |
Corporate Travel Management | CTD | $13.91 | -13.0% | -17.7% |
Cettire | CTT | $0.840 | -20.8% | -79.8% |
Clarity Pharmaceuticals | CU6 | $2.11 | -40.7% | -25.7% |
Clinuvel Pharmaceuticals | CUV | $11.46 | -0.3% | -19.2% |
Core Lithium | CXO | $0.076 | -12.6% | -49.3% |
Domino's Pizza Enterprises | DMP | $25.57 | -9.7% | -39.9% |
Dexus Industria Reit. | DXI | $2.58 | -5.1% | -15.4% |
Endeavour Group | EDV | $3.84 | -7.9% | -29.0% |
Elders | ELD | $6.71 | -5.1% | -26.7% |
Flight Centre Travel Group | FLT | $13.83 | -14.5% | -35.5% |
Fortescue | FMG | $15.37 | -6.9% | -39.0% |
Goodman Group | GMG | $28.43 | -9.2% | -13.7% |
Graincorp | GNC | $6.81 | -1.9% | -14.4% |
Growthpoint Properties Australia | GOZ | $2.26 | -5.4% | -8.1% |
Helloworld Travel | HLO | $1.525 | -9.2% | -47.8% |
HMC Capital | HMC | $6.23 | -31.8% | -13.5% |
IGO | IGO | $3.96 | -0.5% | -42.6% |
Iluka Resources | ILU | $3.88 | -6.5% | -45.0% |
Imugene | IMU | $0.032 | -13.5% | -69.5% |
Ioneer | INR | $0.145 | 0% | -9.4% |
Incitec Pivot | IPL | $2.55 | -7.3% | -10.2% |
Johns Lyng Group | JLG | $2.14 | -16.1% | -65.7% |
Kelsian Group | KLS | $2.68 | -13.5% | -53.4% |
Lifestyle Communities | LIC | $7.78 | -2.8% | -49.1% |
Lendlease Group | LLC | $5.90 | -4.4% | -7.8% |
Lovisa | LOV | $24.00 | -17.5% | -26.0% |
Liontown Resources | LTR | $0.625 | -2.3% | -45.2% |
Metals Acquisition | MAC | $15.82 | -5.3% | -21.3% |
Macquarie Technology Group | MAQ | $62.86 | -8.9% | -21.1% |
Meteoric Resources | MEI | $0.064 | -1.5% | -72.8% |
Magellan Financial Group | MFG | $7.66 | -5.1% | -23.1% |
Mineral Resources | MIN | $23.97 | +5.5% | -64.9% |
Macquarie Group | MQG | $196.64 | -13.2% | -0.6% |
Myer | MYR | $0.650 | -13.9% | -17.1% |
New Hope Corporation | NHC | $3.71 | -7.7% | -16.8% |
Nickel Industries | NIC | $0.595 | -17.4% | -23.7% |
Novonix | NVX | $0.450 | +7.1% | -49.4% |
NRW | NWH | $2.75 | -16.3% | -8.9% |
Netwealth Group | NWL | $25.54 | -15.0% | +20.7% |
Nexgen Energy | NXG | $7.20 | -16.5% | -38.0% |
Nuix | NXL | $3.07 | -16.6% | +41.5% |
Nextdc | NXT | $11.31 | -15.2% | -36.3% |
OFX Group | OFX | $1.125 | -6.3% | -32.2% |
Paradigm Biopharmaceuticals. | PAR | $0.330 | -32.7% | -7.0% |
Paladin Energy | PDN | $5.11 | -25.7% | -63.5% |
Pilbara Minerals | PLS | $1.685 | -11.3% | -55.1% |
Patriot Battery Metals | PMT | $0.275 | +3.8% | -69.9% |
Premier Investments | PMV | $19.93 | -12.2% | -15.4% |
Pinnacle Investment Management Group | PNI | $17.56 | -23.0% | +47.7% |
Polynovo | PNV | $1.145 | -19.9% | -46.5% |
Perpetual | PPT | $19.36 | -2.3% | -21.8% |
Platinum Asset Management | PTM | $0.555 | -3.5% | -29.5% |
Redox | RDX | $2.83 | -11.0% | -6.0% |
REA Group | REA | $219.55 | -7.8% | +18.1% |
Region Group | RGN | $2.07 | +1.0% | -11.9% |
Reliance Worldwide Corporation | RWC | $4.47 | -9.0% | -21.4% |
South32 | S32 | $3.22 | -8.5% | +9.9% |
Seek | SEK | $21.40 | -10.8% | -14.0% |
Silex Systems | SLX | $3.61 | -12.2% | -25.3% |
Stanmore Resources | SMR | $2.12 | -7.8% | -32.7% |
Syrah Resources | SYR | $0.240 | +11.6% | -51.0% |
Tabcorp | TAH | $0.590 | -16.9% | -22.9% |
Treasury Wine Estates | TWE | $9.75 | -10.8% | -20.2% |
Viva Energy Group | VEA | $1.705 | -1.2% | -53.8% |
Weebit Nano | WBT | $1.915 | -9.2% | -42.7% |
Wildcat Resources | WC8 | $0.170 | -10.5% | -75.7% |
Woodside Energy Group | WDS | $23.12 | -6.7% | -23.7% |
WEB Travel Group | WEB | $4.56 | -8.4% | -40.7% |
Whitehaven Coal | WHC | $5.47 | -2.8% | -18.8% |
Block | XYZ | $86.47 | -16.1% | -32.9% |
Yancoal Australia | YAL | $5.06 | -16.8% | -3.3% |
Zip Co. | ZIP | $1.610 | -34.6% | +8.8% |
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: 29METALS (ASX: 29M), 4DMEDICAL (ASX: 4DX), Audinate Group (ASX: AD8), Adairs (ASX: ADH), Ampol (ASX: ALD), AMP (ASX: AMP), Appen (ASX: APX), Arena Reit. (ASX: ARF), BHP Group (ASX: BHP), Credit Corp Group (ASX: CCP), Champion Iron (ASX: CIA), Cochlear (ASX: COH), CSL (ASX: CSL), Corporate Travel Management (ASX: CTD), Cettire (ASX: CTT), Clarity Pharmaceuticals (ASX: CU6), Domino's Pizza Enterprises (ASX: DMP), Dexus Industria Reit. (ASX: DXI), Endeavour Group (ASX: EDV), Elders (ASX: ELD), Fortescue (ASX: FMG), Goodman Group (ASX: GMG), Helloworld Travel (ASX: HLO), HMC Capital (ASX: HMC), IGO (ASX: IGO), Iluka Resources (ASX: ILU), Incitec Pivot (ASX: IPL), Johns Lyng Group (ASX: JLG), Lendlease Group (ASX: LLC), Lovisa (ASX: LOV), Liontown Resources (ASX: LTR), Macquarie Technology Group (ASX: MAQ), Magellan Financial Group (ASX: MFG), Macquarie Group (ASX: MQG), New Hope Corporation (ASX: NHC), Nickel Industries (ASX: NIC), Novonix (ASX: NVX), NRW (ASX: NWH), Netwealth Group (ASX: NWL), Nexgen Energy (ASX: NXG), Nuix (ASX: NXL), Nextdc (ASX: NXT), Paladin Energy (ASX: PDN), Pilbara Minerals (ASX: PLS), Premier Investments (ASX: PMV), Polynovo (ASX: PNV), REA Group (ASX: REA), South32 (ASX: S32), Seek (ASX: SEK), Stanmore Resources (ASX: SMR), Syrah Resources (ASX: SYR), Treasury Wine Estates (ASX: TWE), Viva Energy Group (ASX: VEA), Weebit Nano (ASX: WBT), Block (ASX: XYZ), Yancoal Australia (ASX: YAL), Zip Co. (ASX: ZIP).
Charts of each below:
(Clearly too many to print them all here...so got AI to pick 10 tickers from the list at random)
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ChartWatch Primer
For a detailed explanation of Carl's technical analysis methodology, be sure to check out this ChartWatch Primer.
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.
