ChartWatch ASX Scans: BHP, RIO, FMG slides continue as charts approach make or break technical levels
Your daily dose of the most interesting uptrends and downtrends on the ASX with technical analysis from an expert.
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Mentioned
KEY POINTS
- Interesting uptrends in today's Scans: Global X Uranium ETF (ATOM) Amplia Therapeutics (ATX) Bannerman Energy (BMN) Commonwealth Bank (CBA) Chalice Mining (CHN) Elsight (ELS) EZZ Life Science (EZZ) Vaneck Australian Banks ETF (MVB) Westpac Bank (WBC).
- Interesting downtrends in today's Scans: Accent Group (AX1) BHP Group (BHP) Botanix Pharmaceuticals (BOT) Collins Foods (CKF) CSL (CSL) Corporate Travel (CTD) Flight Centre (FLT) Fortescue (FMG) Healius (HLS) Monash IVF (MVF) Rio Tinto (RIO) South32 (S32).
A disturbing number of short trade opportunities today, as evidenced by the swollen Downtrends Scan List (a whopping 44). As for Feature Charts (i.e., highest conviction), it was 24 Downtrends to 10 Uptrends. It's not the kind of statistic we'd typically associate with the ASX 200 trading within 1.5% from an all time high!
But, despite being somewhat skewed in terms of uptrends-downtrends, there's also a great deal of yin and yang about today's lists ☯️. As terrible as the charts appear for big miners like BHP Group (BHP), Rio Tinto (RIO), Fortescue (FMG), and South 32 (S32) – the charts of major blue-chip counterparts like Commonwealth Bank (CBA), Westpac Banking Corp (WBC), and Brambles (BXB) look just as good.
As much as those miners are on the verge of breaking to new 12-month lows on their respective charts, the other three are breaking to new all time highs. Haves and have-nots. It's just how the Aussie market works ⚖️.
So, one option could see you following the trends and capitalising on this fact, i.e., long the uptrends and short the downtrends – and another could see you doing as you've always been told, and holding a "balanced portfolio" with a mix of banks and resources, which in effect, is going nowhere. Food for thought 🤔!
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.
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 quickly and easily 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 % |
|---|---|---|---|---|
Life360 | 360 | $32.51 | +4.8% | +110.6% |
Adriatic Metals | ADT | $5.44 | +49.5% | +37.4% |
Australian Finance Group | AFG | $2.23 | +5.2% | +56.5% |
APA Group | APA | $8.54 | +4.4% | +2.5% |
Global X Uranium ETF | ATOM | $20.45 | +34.5% | +31.5% |
Amplia Therapeutics | ATX | $0.235 | +351.9% | +242.5% |
Bannerman Energy | BMN | $3.57 | +40.0% | -9.6% |
Bubs Australia | BUB | $0.160 | +23.1% | +18.5% |
Brambles | BXB | $23.70 | +7.6% | +64.8% |
Commonwealth Bank of Australia | CBA | $182.85 | +6.0% | +45.7% |
Charter Hall Group | CHC | $19.46 | +8.2% | +59.9% |
Chalice Mining | CHN | $1.625 | +49.8% | +28.0% |
Cochlear | COH | $288.43 | +5.2% | -11.9% |
EDU | EDU | $0.335 | +91.4% | +86.1% |
Elsight | ELS | $1.350 | +145.5% | +233.3% |
EZZ Life Science | EZZ | $2.31 | +32.8% | +94.1% |
GPT Group | GPT | $5.05 | +7.0% | +26.3% |
Metcash | MTS | $3.69 | +10.1% | -0.8% |
Vaneck Australian Banks ETF | MVB | $41.11 | +4.3% | +19.1% |
SPDR S&P/ASX 200 Financials EX A-Reit Fund ETF | OZF | $30.72 | +4.6% | +23.4% |
Shape Australia Corporation | SHA | $3.75 | +17.2% | +68.2% |
SRG Global | SRG | $1.585 | +7.8% | +85.4% |
Southern Cross Gold | SX2 | $8.00 | +41.1% | 0% |
Tabcorp | TAH | $0.745 | +6.4% | +12.9% |
Westpac Banking Corp | WBC | $33.59 | +6.6% | +24.5% |
Wagners | WGN | $2.04 | -4.7% | +142.9% |
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: Global X Uranium ETF (ASX: ATOM) Amplia Therapeutics (ASX: ATX) Bannerman Energy (ASX: BMN) Brambles (ASX: BXB) Commonwealth Bank of Australia (ASX: CBA) Chalice Mining (ASX: CHN) Elsight (ASX: ELS) EZZ Life Science (ASX: EZZ) Vaneck Australian Banks ETF (ASX: MVB) Westpac Banking Corporation (ASX: WBC).
10 Randomly chosen Feature Uptrend Charts below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Australian Clinical Labs | ACL | $2.69 | -12.9% | +6.3% |
Amotiv | AOV | $7.50 | -5.7% | -29.4% |
ARB Corporation | ARB | $29.95 | -4.0% | -21.8% |
Accent Group | AX1 | $1.290 | -33.2% | -33.2% |
BHP Group | BHP | $36.13 | -6.4% | -15.1% |
Botanix Pharmaceuticals | BOT | $0.285 | -25.0% | 0% |
Brainchip | BRN | $0.205 | -8.9% | -2.4% |
Collins Foods | CKF | $7.16 | -14.5% | -21.3% |
Coronado Resources | CRN | $0.140 | -6.7% | -87.7% |
CSL | CSL | $238.71 | -2.2% | -17.3% |
Corporate Travel Management | CTD | $13.01 | -0.8% | -1.7% |
Dicker Data | DDR | $7.85 | -8.7% | -20.1% |
Endeavour Group | EDV | $4.02 | -1.0% | -21.2% |
Flight Centre Travel | FLT | $12.26 | -9.2% | -37.3% |
Fortescue | FMG | $14.77 | -8.5% | -35.7% |
Healius | HLS | $0.750 | -29.2% | -29.6% |
Ioneer | INR | $0.096 | -28.9% | -40.0% |
IPH | IPH | $4.51 | -8.9% | -28.1% |
Jumbo Interactive | JIN | $9.59 | -3.3% | -43.1% |
Light & Wonder | LNW | $129.08 | -0.3% | -8.1% |
Mesoblast | MSB | $1.670 | -4.0% | +53.2% |
Monash IVF | MVF | $0.600 | -19.5% | -55.2% |
Myer | MYR | $0.615 | -19.1% | +3.5% |
Neuren Pharmaceuticals | NEU | $12.44 | -3.0% | -35.6% |
NIB | NHF | $6.43 | -6.3% | -14.3% |
Novonix | NVX | $0.395 | -21.8% | -37.8% |
Nuix | NXL | $2.23 | -7.5% | -26.4% |
Propel Funeral Partners | PFP | $4.39 | -9.3% | -23.9% |
Pilbara Minerals | PLS | $1.295 | -6.2% | -58.8% |
Platinum Asset Management | PTM | $0.485 | -14.9% | -39.6% |
Redox | RDX | $2.06 | -30.4% | -33.5% |
Rio Tinto | RIO | $103.55 | -13.1% | -12.4% |
Reliance Worldwide | RWC | $4.16 | -9.0% | -11.9% |
South32 | S32 | $2.90 | -5.2% | -19.9% |
Select Harvests | SHV | $4.26 | -9.9% | +25.0% |
Smartgroup Corporation | SIQ | $7.26 | -5.7% | -10.3% |
Skycity Entertainment | SKC | $0.835 | -11.6% | -37.5% |
Stanmore Resources | SMR | $1.880 | -3.1% | -43.9% |
Strike Energy | STX | $0.155 | -8.8% | -24.4% |
Vulcan Steel | VSL | $5.73 | -15.5% | -18.0% |
Vulcan Energy Resources | VUL | $3.50 | -19.2% | -27.7% |
Weebit Nano | WBT | $1.560 | -8.5% | -30.7% |
WEB Travel | WEB | $4.52 | -1.3% | -40.8% |
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: Australian Clinical Labs (ASX: ACL) Amotiv (ASX: AOV) ARB Corporation (ASX: ARB) Accent Group (ASX: AX1) BHP Group (ASX: BHP) Botanix Pharmaceuticals (ASX: BOT) Collins Foods (ASX: CKF) CSL (ASX: CSL) Corporate Travel Management (ASX: CTD) Flight Centre Travel Group (ASX: FLT) Fortescue (ASX: FMG) Healius (ASX: HLS) Mesoblast (ASX: MSB) Monash IVF Group (ASX: MVF) Myer (ASX: MYR) Neuren Pharmaceuticals (ASX: NEU) Propel Funeral Partners (ASX: PFP) Platinum Asset Management (ASX: PTM) Rio Tinto (ASX: RIO) Reliance Worldwide Corporation (ASX: RWC) South32 (ASX: S32) Select Harvests (ASX: SHV) Skycity Entertainment Group (ASX: SKC) Weebit Nano (ASX: WBT).
10 Randomly chosen Feature Downtrend Charts below:
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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.
