ChartWatch ASX Scans: Big Bank Brilliance as ANZ, NAB and WBC power gains, but Real Estate CHC, SCG and SGP also surging
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: Charter Hall (CHC), EZZ Life Science (EZZ), IVE Group (IGL), JB HI-FI (JBH), National Australia Bank (NAB), Nick Scali (NCK), Resmed Inc (RMD), Scentre Group (SCG), Westpac Banking Corp. (WBC), Wesfarmers (WES).
- Interesting downtrends in today's Scans: Appen (APX), Avita Medical (AVH), Boss Energy (BOE), Brightstar Resources (BTR), GQG Partners (GQG), Nuix (NXL), Redox (RDX), Viva Energy Group (VEA), Vulcan Energy (VUL), Worley (WOR).
It's always interesting to see the correlation between the performance of the benchmark ASX 200 and the relative numbers appearing in the corresponding session's Uptrends and Downtrends Scan Lists here in ChartWatch.
For the last couple of weeks as the ASX 200 has grown from strength to strength, the Uptrends Scan List has swelled and the Downtrends Scan List has dwindled. Off the top of my head, I think the former peaked at 102 and the latter at as few as 8 as per the 18-Aug update. Quite an imbalance!
You will find that if the ASX 200 is to falter, such an imbalance would dissipate quite quickly as the ranks of the Uptrends Scan List shrinks and the Downtrends Scan List expands. Don't get me wrong, I'm not sounding any alarm bell here (at least not yet!), I am just stating a fact.
And this is the sheer beauty and brilliance of a good trend following model – it reflects underlying market conditions and has a natural dampening effect against a potential major market downturn.
You will generally find that by the time such a downturn is in full swing, your portfolio has already adjusted to the new trend through a process of natural attrition of longs (and lack of new long setups appearing) and a growth in short exposure (due to an increasing plethora of short-side setups appearing).
So where are we at today? 🤔 Here's the stats:
Uptrends Scan List: 56
Downtrends Scan List: 27
Still a healthy imbalance favouring long setups – but a substantial paring back from 102-8! Remember, just facts for now, not a warning, but I think I might start keeping a running daily tally of how the 2 scan lists pad out. 🧐
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 % |
|---|---|---|---|---|
Australian Finance Group | AFG | $2.39 | +12.2% | +53.2% |
ALS | ALQ | $18.90 | +5.6% | +23.8% |
Atlas Arteria | ALX | $5.38 | +5.1% | +4.3% |
APA Group | APA | $8.76 | +5.7% | +10.9% |
Eagers Automotive | APE | $21.97 | +17.7% | +106.9% |
Activeport Group | ATV | $0.025 | +113.5% | -63.4% |
Bank of Queensland | BOQ | $7.90 | +4.9% | +25.6% |
Cobram Estate Olives | CBO | $2.86 | +17.2% | +78.8% |
Vaneck FTSE China A50 ETF | CETF | $61.18 | +3.5% | +24.9% |
Charter Hall Group | CHC | $22.82 | +15.8% | +82.1% |
Centuria Industrial Reit | CIP | $3.39 | +8.0% | +8.0% |
Charter Hall Long Wale Reit | CLW | $4.57 | +11.7% | +22.8% |
Vaneck China New Economy ETF | CNEW | $8.14 | +9.7% | +49.9% |
Centuria Capital Group | CNI | $2.40 | +33.0% | +52.4% |
Coles Group | COL | $21.34 | +4.5% | +16.0% |
Charter Hall Retail Reit | CQR | $4.24 | +9.8% | +18.1% |
Cedar Woods Properties | CWP | $7.51 | -0.5% | +51.7% |
Elanor Commercial Property Fund | ECF | $0.705 | +9.3% | +7.1% |
Evolution Mining | EVN | $7.98 | +3.9% | +94.6% |
EZZ Life Science | EZZ | $2.63 | +25.8% | +24.1% |
Insurance Australia Group | IAG | $9.10 | +10.3% | +22.8% |
IVE Group | IGL | $3.08 | +1.7% | +41.9% |
Ingenia Communities | INA | $5.89 | +12.0% | +15.3% |
JB HI-FI | JBH | $120.00 | +14.9% | +58.0% |
Lycopodium | LYL | $12.59 | +8.6% | -11.0% |
Vaneck Australian Property ETF | MVA | $26.77 | +6.7% | +17.9% |
Vaneck Australian Banks ETF | MVB | $42.90 | +7.0% | +17.8% |
Mystate | MYS | $4.56 | +7.0% | +15.7% |
National Australia Bank | NAB | $42.03 | +12.9% | +15.2% |
Nick Scali | NCK | $22.92 | +20.6% | +53.3% |
Nine Entertainment | NEC | $1.755 | +2.3% | +25.8% |
Origin Energy | ORG | $12.92 | +7.0% | +33.7% |
Premier Investments | PMV | $22.41 | +12.7% | -11.7% |
Platinum Asset Management | PTM | $0.785 | +24.6% | -1.3% |
Peter Warren Automotive | PWR | $1.860 | +26.5% | +4.5% |
BetaShares Financials ETF | QFN | $18.26 | +6.2% | +21.3% |
Russell High Dividend ETF | RDV | $35.33 | +5.3% | +13.1% |
Region Group | RGN | $2.42 | +6.6% | +8.0% |
Resmed Inc | RMD | $44.63 | +11.1% | +30.8% |
Scentre Group | SCG | $3.96 | +6.2% | +17.2% |
Stockland | SGP | $6.12 | +11.3% | +31.9% |
SPDR S&P/ASX 200 Property ETF | SLF | $14.81 | +6.3% | +13.0% |
SRG Global | SRG | $1.850 | +10.1% | +113.9% |
Service Stream | SSM | $2.18 | +12.1% | +61.5% |
Torque Metals. | TOR | $0.300 | +50.0% | +185.7% |
Tyro Payments | TYR | $1.140 | +18.1% | +26.0% |
Universal Store | UNI | $8.96 | +11.3% | +46.9% |
Vanguard Australian Property ETF | VAP | $106.60 | +6.5% | +11.7% |
Vicinity Centres | VCX | $2.61 | +4.8% | +20.8% |
Vanguard Australian High Yield ETF | VHY | $78.52 | +4.7% | +8.3% |
Vaneck MSCI International Value ETF | VLUE | $30.55 | +6.8% | +21.4% |
Westpac Banking Corporation | WBC | $38.23 | +17.1% | +28.9% |
Wesfarmers | WES | $92.47 | +11.3% | +23.9% |
WIA Gold | WIA | $0.325 | +14.0% | +273.6% |
Woolworths Group | WOW | $32.74 | +5.2% | -4.8% |
XRF Scientific | XRF | $2.19 | +7.4% | +56.4% |
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: Australian Finance Group (ASX: AFG), Activeport Group (ASX: ATV), Cobram Estate Olives (ASX: CBO), Vaneck FTSE China A50 ETF (ASX: CETF), Charter Hall Group (ASX: CHC), Charter Hall Long Wale Reit (ASX: CLW), Vaneck China New Economy ETF (ASX: CNEW), Centuria Capital Group (ASX: CNI), Charter Hall Retail Reit (ASX: CQR), EZZ Life Science (ASX: EZZ), IVE Group (ASX: IGL), Ingenia Communities Group (ASX: INA), JB HI-FI (ASX: JBH), Lycopodium (ASX: LYL), National Australia Bank (ASX: NAB), Nick Scali (ASX: NCK), Platinum Asset Management (ASX: PTM), BetaShares Australian Financials Sector ETF (ASX: QFN), Resmed Inc (ASX: RMD), Scentre Group (ASX: SCG), SRG Global (ASX: SRG), Service Stream (ASX: SSM), Vanguard Australian Property Securities Index ETF (ASX: VAP), Vaneck MSCI International Value ETF (ASX: VLUE), Westpac Banking Corporation (ASX: WBC), Wesfarmers (ASX: WES).
10 Randomly chosen Feature Uptrend Charts:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Australian Clinical Labs | ACL | $2.74 | -2.8% | +3.8% |
AGL Energy | AGL | $8.66 | -12.4% | -26.4% |
Appen | APX | $0.850 | -25.8% | -6.1% |
Avita Medical | AVH | $1.490 | -11.3% | -46.8% |
Boss Energy | BOE | $1.595 | -59.0% | -47.9% |
Brazilian Rare Earths | BRE | $2.00 | -20.9% | -10.3% |
Brainchip | BRN | $0.190 | -11.6% | 0% |
Brightstar Resources | BTR | $0.370 | -24.5% | -1.3% |
Cuscal Group | CCL | $2.91 | -6.1% | 0% |
Champion Iron | CIA | $4.26 | -16.0% | -26.2% |
Cettire | CTT | $0.290 | -12.1% | -78.0% |
Fleetpartners Group | FPR | $2.65 | -14.8% | -18.2% |
G8 Education | GEM | $0.920 | 0% | -33.1% |
GQG Partners | GQG | $1.745 | -21.4% | -37.0% |
Gentrack Group | GTK | $9.15 | -11.2% | -0.9% |
Immutep | IMM | $0.245 | -3.9% | -31.0% |
Lotus Resources | LOT | $0.150 | -21.1% | -37.5% |
Myer | MYR | $0.630 | +0.8% | -20.6% |
Nufarm | NUF | $2.51 | -1.2% | -37.6% |
Nuix | NXL | $2.22 | -7.5% | -36.4% |
Redox | RDX | $2.10 | -7.1% | -35.2% |
South32 | S32 | $2.87 | -5.9% | -3.7% |
Silex Systems | SLX | $3.52 | -19.8% | -16.2% |
Telix Pharmaceuticals | TLX | $16.92 | -32.6% | -11.8% |
Viva Energy Group | VEA | $2.01 | -11.1% | -36.4% |
Vulcan Energy Resources | VUL | $3.55 | -12.3% | -9.2% |
Worley | WOR | $12.76 | -2.0% | -12.5% |
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: Appen (ASX: APX), Avita Medical (ASX: AVH), Boss Energy (ASX: BOE), Brightstar Resources (ASX: BTR), GQG Partners (ASX: GQG), Nuix (ASX: NXL), Redox (ASX: RDX), Silex Systems (ASX: SLX), Telix Pharmaceuticals (ASX: TLX), Viva Energy Group (ASX: VEA), Vulcan Energy Resources (ASX: VUL), Worley (ASX: WOR).
10 Randomly chosen Feature Downtrend Charts:
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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's 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 – so always do your own research!!!
