ChartWatch ASX Scans: Big blue-chips are back! CBA, WES, WBC, PME, HUB, TNE and SOL all flash major uptrend signals
Your daily dose of the most interesting uptrends and downtrends on the ASX with technical analysis from an expert.
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KEY POINTS
- Interesting uptrends in today's Scans: Commonwealth Bank (CBA), Computershare (CPU), Hub24 (HUB), Megaport (MP1), Nick Scali (NCK), Pro Medicus (PME), Washington H Soul Pattinson (SOL), Suncorp (SUN), Technology One (TNE), Wesfarmers (WES), Zeotech (ZEO).
- Interesting downtrends in today's Scans: Appen (APX), Coronado Global Resources (CRN), Cettire (CTT), Domino's Pizza (DMP), Galan Lithium (GLN), Lifestyle Communities (LIC), Liontown Resources (LTR), The Star Entertainment Group (SGR).
In the last few updates, we've been lamenting the lack of a "normal" number of constituents in both the Uptrends and Downtrends Scan Lists.
This is because "normal" to me means at least a dozen or so stocks in each list. Now, if the broader ASX is skewed bullish, naturally, we'd expect to see a greater number of uptrends vs a greater number of downtrends when it is skewed bearish.
My point is, in my experience, trend traders with a sound methodology should always be able to find a suitable mix of long and short trades to choose from. This is because in even in the best bull / bear markets there are always stocks struggling / thriving. It's our job to find them!
In today's edition, I note in particular the reappearance of a broad range of blue-chip stocks. The market recovery is therefore in full swing, and you can expect to see below the likes of big banks BOQ, CBA, and WBC, plus retailer WES, and a range of technology super stars like HUB, TNE, XRO, and PME in the Uptrends Scan List.
On the other hand, CRN continues its record breaking run of Feature Downtrends appearances, and it is joined by other all-too-regular Downtrends Scan List fraternity members DMP, LIC, and SGR.
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 % |
|---|---|---|---|---|
Aristocrat Leisure | ALL | $66.84 | +2.2% | +66.3% |
ALS | ALQ | $17.19 | +9.4% | +31.5% |
Austal | ASB | $5.31 | +29.8% | +135.0% |
ASX | ASX | $70.73 | +6.3% | +12.3% |
Bega Cheese | BGA | $5.65 | +3.3% | +37.5% |
Bank of Queensland | BOQ | $7.46 | +10.5% | +22.7% |
Bluescope Steel | BSL | $23.87 | +5.6% | +5.5% |
Commonwealth Bank of Australia | CBA | $166.60 | +11.0% | +47.4% |
Challenger Gold | CEL | $0.083 | +40.7% | -2.4% |
COG Financial Services | COG | $1.420 | +31.5% | +17.4% |
Computershare | CPU | $40.72 | +2.5% | +50.8% |
Duxton Water | D2O | $1.545 | +4.4% | +4.7% |
Dalrymple Bay Infrastructure/Notes | DBI | $4.11 | +9.6% | +49.5% |
Duratec | DUR | $1.715 | +2.4% | +71.5% |
Dexus | DXS | $7.52 | +4.0% | +6.8% |
Fineos Corporation | FCL | $2.19 | +5.3% | +17.4% |
Hub24 | HUB | $72.35 | +3.4% | +83.4% |
IVE Group | IGL | $2.64 | +7.3% | +26.9% |
Mirvac Group | MGR | $2.28 | +6.5% | +11.2% |
Monadelphous Group | MND | $16.14 | +4.1% | +20.2% |
Megaport | MP1 | $11.42 | +12.0% | -20.1% |
Medibank Private | MPL | $4.65 | +5.2% | +30.6% |
Nick Scali | NCK | $17.80 | +10.4% | +12.3% |
OOH!Media | OML | $1.535 | +4.8% | -6.7% |
Pro Medicus | PME | $229.41 | +9.2% | +109.7% |
Qantas Airways | QAN | $8.85 | -6.4% | +52.1% |
REA Group | REA | $248.23 | +8.2% | +41.1% |
Superloop | SLC | $2.50 | +14.7% | +88.0% |
Washington H Soul Pattinson & Company | SOL | $37.21 | +7.9% | +14.7% |
Suncorp Group | SUN | $20.26 | +5.2% | +27.5% |
Solvar | SVR | $1.615 | +13.7% | +65.6% |
Southern Cross Electrical Engineering | SXE | $1.870 | +21.0% | +57.8% |
Technology One | TNE | $30.06 | +4.3% | +91.7% |
Vicinity Centres | VCX | $2.36 | +6.8% | +25.2% |
Westpac Banking Corporation | WBC | $32.84 | +3.8% | +28.5% |
Wesfarmers | WES | $78.32 | +8.6% | +20.8% |
Xero | XRO | $164.19 | +3.2% | +36.5% |
Zeotech | ZEO | $0.097 | +94.0% | +340.9% |
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: ALS (ASX: ALQ), Austal (ASX: ASB), Bank of Queensland (ASX: BOQ), Commonwealth Bank of Australia (ASX: CBA), Computershare (ASX: CPU), Hub24 (ASX: HUB), IVE Group (ASX: IGL), Monadelphous Group (ASX: MND), Megaport (ASX: MP1), Nick Scali (ASX: NCK), Pro Medicus (ASX: PME), Washington H Soul Pattinson & Company (ASX: SOL), Suncorp Group (ASX: SUN), Technology One (ASX: TNE), Wesfarmers (ASX: WES), Xero (ASX: XRO), Zeotech (ASX: ZEO).
Charts of each below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Auckland International Airport | AIA | $6.92 | -5.5% | -2.7% |
Appen | APX | $0.800 | -26.6% | +15.1% |
Beach Energy | BPT | $1.175 | -20.9% | -26.1% |
Coronado Global Resources | CRN | $0.195 | -44.3% | -83.4% |
Cettire | CTT | $0.450 | -49.4% | -84.4% |
Domino's Pizza Enterprises | DMP | $25.23 | -6.8% | -33.8% |
Fletcher Building | FBU | $2.82 | -5.4% | -17.8% |
Galan Lithium | GLN | $0.100 | -9.1% | -73.7% |
Lifestyle Communities | LIC | $7.16 | -13.1% | -38.4% |
Liontown Resources | LTR | $0.525 | -20.5% | -53.1% |
Paradigm Biopharmaceuticals. | PAR | $0.285 | -20.8% | 0% |
The Star Entertainment Group | SGR | $0.105 | -12.5% | -81.4% |
Spark New Zealand | SPK | $1.925 | +2.7% | -54.7% |
Sovereign Metals | SVM | $0.650 | -21.2% | +25.0% |
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: Auckland International Airport (ASX: AIA), Appen (ASX: APX), Coronado Global Resources (ASX: CRN), Cettire (ASX: CTT), Domino's Pizza Enterprises (ASX: DMP), Galan Lithium (ASX: GLN), Lifestyle Communities (ASX: LIC), Liontown Resources (ASX: LTR), The Star Entertainment Group (ASX: SGR).
Charts of each below:
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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.
