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/ChartWatch ASX Scans: Black Cat Syndicate, Droneshield, L1 Long Short Fund, Medadvisor, Rex Minerals, Collins Foods
Technical Analysis
ChartWatch ASX Scans: Black Cat Syndicate, Droneshield, L1 Long Short Fund, Medadvisor, Rex Minerals, Collins Foods
Thu 30 May 24, 9:07am (AEST)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scan Lists include: Interesting uptrends in today's Scan Lists include: Black Cat Syndicate (BC8), Droneshield (DRO), L1 Long Short Fund (LSF), Medadvisor (MDR), and Rex Minerals (RXM)
- Interesting downtrends in today's Scan Lists include: Audinate Group (AD8), ASX (ASX), Bank of Queensland (BOQ), Bluescope Steel (BSL), Brambles (BXB), Collins Foods (CKF), Coles Group (COL), Washington H Soul Pattinson (SOL), and Syrah Resources (SYR)
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.
Seven of nine down days on the Aussie market, culminating in yesterday's sharp sell off has taken its toll on the Uptrends Scan List. Such is the nature of trend-based analysis.
It makes just as much sense that the Downtrends List is swelling. Those who have access to short selling have probably enjoyed some nice wins over the past couple of weeks, and this highlights the need to be able to play both sides of the market.
Uptrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Black Cat Syndicate | BC8 | $0.365 | +32.7% | -3.9% |
Droneshield | DRO | $1.085 | +31.5% | +280.7% |
L1 Long Short Fund | LSF | $3.15 | +5.4% | +8.6% |
Munro Climate Change Leaders Fund ETF | MCCL | $15.18 | +10.2% | +62.5% |
Medadvisor | MDR | $0.450 | +50.0% | +104.5% |
Metals X | MLX | $0.485 | +6.6% | +79.6% |
BetaShares Crude Oil Index ETF Hedged | OOO | $6.01 | -2.0% | +20.2% |
Regal Asian Investments | RG8 | $2.13 | +7.3% | +7.0% |
Rex Minerals | RXM | $0.260 | +18.2% | +16.5% |
VGI Partners Global Investments | VG1 | $1.920 | +6.7% | +21.9% |
Today's Uptrends Scan List
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Aussie Broadband | ABB | $3.39 | -8.6% | +14.1% |
Audinate Group | AD8 | $15.00 | -20.0% | +71.6% |
Ampol | ALD | $35.11 | -4.6% | +13.0% |
Atlas Arteria | ALX | $5.26 | +1.3% | -16.9% |
Eagers Automotive | APE | $10.11 | -20.0% | -18.7% |
ASX | ASX | $62.29 | -2.1% | -8.0% |
Aurizon Holdings | AZJ | $3.63 | -5.2% | +3.4% |
Bapcor | BAP | $4.21 | -25.5% | -31.4% |
Brickworks | BKW | $25.93 | -3.3% | +1.3% |
Bank of Queensland | BOQ | $5.74 | -6.7% | +1.2% |
Brainchip Holdings | BRN | $0.250 | -13.8% | -41.9% |
Bluescope Steel | BSL | $20.91 | -8.7% | +9.8% |
Brambles | BXB | $13.92 | -4.8% | -0.8% |
Centuria Industrial Reit | CIP | $3.14 | -1.6% | +0.6% |
Collins Foods | CKF | $9.05 | -9.9% | +5.2% |
Coles Group | COL | $16.07 | -0.9% | -11.3% |
Charter Hall Social Infrastructure Reit | CQE | $2.44 | -4.7% | -15.6% |
Charter Hall Retail Reit | CQR | $3.29 | -1.5% | -11.6% |
Corporate Travel Management | CTD | $13.32 | -13.3% | -36.1% |
Cettire | CTT | $2.29 | -23.4% | +21.8% |
Deterra Royalties | DRR | $4.66 | -5.9% | +5.2% |
Dexus | DXS | $6.77 | -4.9% | -15.6% |
Endeavour Group | EDV | $4.87 | -9.1% | -22.2% |
Flight Centre Travel Group | FLT | $18.98 | -10.5% | -8.9% |
Grange Resources | GRR | $0.400 | -4.8% | -25.2% |
GWA Group | GWA | $2.28 | -11.3% | +27.0% |
Insignia Financial | IFL | $2.22 | -9.8% | -24.0% |
Iluka Resources | ILU | $7.24 | -5.7% | -35.4% |
Imugene | IMU | $0.068 | -21.8% | -40.9% |
Kelsian Group | KLS | $5.04 | -9.4% | -24.2% |
Mirvac Group | MGR | $1.950 | -5.3% | -15.2% |
McMillan Shakespeare | MMS | $16.20 | -12.5% | +7.0% |
Mayne Pharma Group | MYX | $4.98 | -28.6% | +38.3% |
Nine Entertainment Co. Holdings | NEC | $1.430 | -6.2% | -25.9% |
Novonix | NVX | $0.720 | -16.8% | -22.2% |
OOH!Media | OML | $1.425 | -14.9% | +14.9% |
Orora | ORA | $2.08 | -5.0% | -32.7% |
Platinum Asset Management | PTM | $1.025 | -4.2% | -38.8% |
Region Group | RGN | $2.12 | -3.6% | -14.5% |
Steadfast Group | SDF | $5.46 | -3.7% | -8.2% |
Sims | SGM | $10.68 | -11.4% | -25.2% |
Smartgroup Corporation | SIQ | $7.93 | -17.3% | +9.9% |
Stanmore Resources | SMR | $3.16 | -5.4% | +23.3% |
Washington H Soul Pattinson & Company | SOL | $31.55 | -3.4% | -4.5% |
Spark New Zealand | SPK | $3.74 | -13.6% | -23.5% |
Block Inc. | SQ2 | $98.87 | -14.0% | +9.4% |
Strike Energy | STX | $0.210 | -4.5% | -54.3% |
Super Retail Group | SUL | $12.88 | -12.2% | +11.2% |
Syrah Resources | SYR | $0.455 | -13.3% | -48.5% |
Telstra Group | TLS | $3.44 | -6.3% | -21.1% |
Treasury Wine Estates | TWE | $11.10 | -8.2% | -13.4% |
Weebit Nano | WBT | $2.30 | -27.0% | -57.0% |
Woodside Energy Group | WDS | $27.47 | -2.7% | -21.2% |
Today's Downtrends Scan List
Interesting charts from today's Downtrends List 🔎📉
The stocks that I feel are showing the strongest excess supply from today's Downtrends List are: Audinate Group (ASX: AD8), Eagers Automotive (ASX: APE), ASX (ASX: ASX), Bank of Queensland (ASX: BOQ), Bluescope Steel (ASX: BSL), Brambles (ASX: BXB), Collins Foods (ASX: CKF), Coles Group (ASX: COL), Corporate Travel Management (ASX: CTD), Deterra Royalties (ASX: DRR), Dexus (ASX: DXS), Endeavour Group (ASX: EDV), Flight Centre Travel Group (ASX: FLT), Kelsian Group (ASX: KLS), McMillan Shakespeare (ASX: MMS), Smartgroup Corporation (ASX: SIQ), Washington H Soul Pattinson & Company (ASX: SOL), Syrah Resources (ASX: SYR), Telstra Group (ASX: TLS), Treasury Wine Estates (ASX: TWE).
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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