Evening Wrap: ASX 200 closes stronger to cap winning week with a Gold, Gold, Gold performance!
Fri 13 Sep 24, 5:38pm (AEST)
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/ChartWatch ASX Scans: Bisalloy Steel, Polynovo, Spartan Resources, Service Stream, BHP, Fortescue, Paladin Energy
Technical Analysis
ChartWatch ASX Scans: Bisalloy Steel, Polynovo, Spartan Resources, Service Stream, BHP, Fortescue, Paladin Energy
Wed 24 Jul 24, 9:00am (AEST)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scans: ALS (ALQ), Ansell (ANN), Commonwealth Bank (CBA), Codan (CDA), Cochlear (COH), JBHiFi (JBH), Nick Scali (NCK), Polynovo (PNV), Spartan Resources (SPR), Super Retail (SUL), Titomic (TTT), Vysarn (VYS), Wesfarmers (WES)
- Interesting downtrends in today's Scans: BHP Group (BHP), Boss Energy (BOE), Champion Iron (CIA), Calix (CXL), Develop Global (DVP), Deep Yellow (DYL), Fortescue (FMG), IGO (IGO), Iluka (ILU), Lotus Resources (LOT), Meteoric Resources (MEI), Paladin (PDN)
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 % |
|---|---|---|---|---|
Adairs | ADH | $2.02 | +9.2% | +21.3% |
Argenica Therapeutics | AGN | $0.870 | +3.0% | +148.6% |
ALS | ALQ | $14.93 | +4.1% | +30.6% |
Aurelia Metals | AMI | $0.205 | +7.9% | +120.4% |
Ansell | ANN | $27.49 | +4.4% | +18.1% |
Argo Investments | ARG | $8.89 | +3.1% | +0.2% |
Austal | ASB | $2.56 | +5.8% | -6.2% |
Bendigo and Adelaide Bank | BEN | $12.21 | +7.3% | +33.6% |
Bisalloy Steel Group | BIS | $5.10 | +32.5% | +165.4% |
Brickworks | BKW | $29.09 | +7.1% | +16.5% |
Commonwealth Bank of Australia | CBA | $133.14 | +5.0% | +26.5% |
Codan | CDA | $12.22 | +7.2% | +52.2% |
Cochlear | COH | $338.04 | +4.4% | +44.8% |
Duratec | DUR | $1.290 | +14.7% | +5.3% |
Emeco | EHL | $0.850 | +14.9% | +20.6% |
Elders | ELD | $9.49 | +14.6% | +34.4% |
Future Generation Australia | FGX | $1.250 | +6.8% | +9.6% |
Flight Centre Travel Group | FLT | $23.01 | +17.1% | +6.3% |
Fisher & Paykel Healthcare | FPH | $29.49 | +7.5% | +30.5% |
Genusplus Group | GNP | $2.17 | +17.3% | +88.7% |
GQG Partners | GQG | $2.95 | +8.5% | +81.5% |
GWA Group | GWA | $2.66 | +16.7% | +44.6% |
HMC Capital | HMC | $7.77 | +4.3% | +51.2% |
Insignia Financial | IFL | $2.67 | +21.9% | -2.9% |
Intelligent Monitoring Group | IMB | $0.615 | +43.0% | +551.8% |
JB HI-FI | JBH | $67.58 | +7.7% | +51.7% |
Lycopodium | LYL | $13.76 | +8.1% | +35.8% |
Medadvisor | MDR | $0.540 | +22.7% | +129.8% |
MFF Capital Investments | MFF | $3.87 | +6.3% | +40.2% |
Medibank Private | MPL | $3.84 | +3.8% | +11.3% |
Mesoblast | MSB | $1.305 | +31.8% | -1.0% |
Nick Scali | NCK | $14.81 | +6.5% | +50.4% |
National Storage Reit | NSR | $2.44 | +4.3% | +8.4% |
NRW | NWH | $3.31 | +5.8% | +23.5% |
News Corporation | NWS | $43.40 | +3.4% | +44.4% |
Nuix | NXL | $3.40 | +17.6% | +203.6% |
Origin Energy | ORG | $10.68 | +0.2% | +23.9% |
Paragon Care | PGC | $0.455 | +9.6% | +82.0% |
Premier Investments | PMV | $31.34 | -2.1% | +46.2% |
Pinnacle Investment Management | PNI | $16.29 | +18.0% | +59.5% |
Polynovo | PNV | $2.60 | +7.9% | +62.0% |
Qube | QUB | $3.79 | +4.4% | +32.1% |
Reece | REH | $26.81 | +3.9% | +42.5% |
Resmed Inc | RMD | $31.22 | +12.5% | -2.8% |
Regal Partners | RPL | $3.65 | +13.0% | +36.2% |
Scentre Group | SCG | $3.31 | +3.4% | +19.9% |
SG Fleet Group | SGF | $3.24 | +3.8% | +40.9% |
Supply Network | SNL | $23.09 | +2.4% | +55.7% |
Spartan Resources | SPR | $1.230 | +50.0% | +475.8% |
Service Stream | SSM | $1.345 | +8.5% | +64.0% |
Super Retail Group | SUL | $15.39 | +13.2% | +29.2% |
Southern Cross Electrical | SXE | $1.835 | +6.4% | +180.2% |
Tasmea | TEA | $1.740 | +16.0% | 0% |
Telix Pharmaceuticals | TLX | $20.31 | +11.1% | +67.0% |
Technology One | TNE | $18.97 | +3.9% | +20.4% |
Titomic | TTT | $0.200 | +156.4% | +1328.6% |
Treasury Wine Estates | TWE | $12.55 | +1.0% | +15.1% |
Vysarn | VYS | $0.370 | +32.1% | +124.2% |
Wesfarmers | WES | $72.19 | +10.6% | +47.1% |
Waratah Minerals | WTM | $0.380 | +230.4% | +171.4% |
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: ALS (ASX: ALQ), Ansell (ASX: ANN), Bisalloy Steel Group (ASX: BIS), Brickworks (ASX: BKW), Commonwealth Bank of Australia (ASX: CBA), Codan (ASX: CDA), Cochlear (ASX: COH), Emeco (ASX: EHL), Elders (ASX: ELD), Future Generation Australia (ASX: FGX), Fisher & Paykel Healthcare Corporation (ASX: FPH), GWA Group (ASX: GWA), HMC Capital (ASX: HMC), Insignia Financial (ASX: IFL), JB HI-FI (ASX: JBH), MFF Capital Investments (ASX: MFF), Nick Scali (ASX: NCK), Pinnacle Investment Management Group (ASX: PNI), Polynovo (ASX: PNV), Reece (ASX: REH), Spartan Resources (ASX: SPR), Service Stream (ASX: SSM), Super Retail Group (ASX: SUL), Southern Cross Electrical Engineering (ASX: SXE), Titomic (ASX: TTT), Vysarn (ASX: VYS), Wesfarmers (ASX: WES).
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Audinate Group | AD8 | $15.31 | -6.6% | +63.2% |
Adriatic Metals | ADT | $3.19 | -19.6% | -2.7% |
Australian Ethical Investment | AEF | $4.05 | -6.9% | +11.9% |
Aurizon | AZJ | $3.61 | -1.4% | -2.4% |
BHP Group | BHP | $41.46 | -2.3% | -7.1% |
Boss Energy | BOE | $3.67 | -7.1% | +20.3% |
Chalice Mining | CHN | $1.085 | -17.5% | -81.3% |
Champion Iron | CIA | $6.00 | -4.5% | +2.2% |
Corporate Travel Management | CTD | $13.21 | -3.4% | -33.4% |
Calix | CXL | $0.995 | -26.6% | -77.1% |
Core Lithium | CXO | $0.098 | +24.1% | -89.3% |
Develop Global | DVP | $1.880 | -14.5% | -43.9% |
Deep Yellow | DYL | $1.215 | -11.0% | +74.8% |
EVT | EVT | $10.81 | -4.6% | -9.0% |
Fortescue | FMG | $21.21 | -0.2% | -6.1% |
GDI Property Group | GDI | $0.565 | -5.8% | -14.4% |
Grange Resources | GRR | $0.340 | 0% | -43.3% |
IGO | IGO | $5.63 | -1.1% | -61.8% |
Iluka Resources | ILU | $6.19 | -2.8% | -42.7% |
IPH | IPH | $6.12 | -5.1% | -23.5% |
Karoon Energy | KAR | $1.800 | +4.3% | -15.5% |
Lotus Resources | LOT | $0.290 | -12.1% | +45.0% |
Latin Resources | LRS | $0.155 | -11.4% | -55.1% |
Arcadium Lithium | LTM | $5.12 | +4.3% | 0% |
Liontown Resources | LTR | $0.985 | +8.2% | -66.2% |
Meteoric Resources | MEI | $0.120 | -25.0% | -48.9% |
Mineral Resources | MIN | $54.42 | -0.6% | -28.2% |
Monadelphous Group | MND | $12.46 | -6.5% | -2.6% |
Nickel Industries | NIC | $0.785 | -1.9% | -3.7% |
Nufarm | NUF | $4.54 | -2.6% | -17.9% |
Novonix | NVX | $0.675 | -1.5% | -34.5% |
Paladin Energy | PDN | $12.05 | -9.0% | +60.7% |
Patriot Battery Metals | PMT | $0.495 | -10.0% | -67.9% |
Ramsay Health Care | RHC | $46.97 | -1.8% | -16.5% |
Rio Tinto | RIO | $113.81 | -4.4% | -2.3% |
Renascor Resources | RNU | $0.088 | -2.2% | -54.9% |
South32 | S32 | $2.98 | -18.1% | -21.8% |
Sims | SGM | $10.06 | +0.2% | -34.8% |
Strike Energy | STX | $0.200 | -13.0% | -54.0% |
Syrah Resources | SYR | $0.300 | -13.0% | -58.9% |
Terracom | TER | $0.200 | -4.8% | -52.4% |
Temple & Webster Group | TPW | $9.25 | -6.3% | +44.8% |
Viva Energy Group | VEA | $3.06 | -1.6% | -1.3% |
Vulcan Steel | VSL | $6.35 | -3.8% | -11.9% |
Wildcat Resources | WC8 | $0.255 | -21.5% | +88.9% |
Woodside Energy Group | WDS | $27.53 | +2.1% | -23.3% |
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: BHP Group (ASX: BHP), Boss Energy (ASX: BOE), Champion Iron (ASX: CIA), Corporate Travel Management (ASX: CTD), Calix (ASX: CXL), Develop Global (ASX: DVP), Deep Yellow (ASX: DYL), Fortescue (ASX: FMG), Grange Resources (ASX: GRR), IGO (ASX: IGO), Iluka Resources (ASX: ILU), Lotus Resources (ASX: LOT), Meteoric Resources (ASX: MEI), Monadelphous Group (ASX: MND), Nickel Industries (ASX: NIC), Paladin Energy (ASX: PDN), Patriot Battery Metals (ASX: PMT), Ramsay Health Care (ASX: RHC), Woodside Energy Group (ASX: WDS).
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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