NewsEvening Wrap: ASX 200 logs ninth consecutive win to close out solid week of gains, as gold and iron ore stocks rally
Fri 16 May 25, 5:33pm (AEST)
Technical Analysis
ChartWatch ASX Scans: BOE, CHC, CSL, QAN WES, TNE, TPW, WES
Thu 08 May 25, 9:15am (AEST)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scans: Ausgold (AUC), Boss Energy (BOE), Catapult Group (CAT), Charter Hall (CHC), Dateline Resources (DTR), Kingsgate Consolidated (KCN), Monadelphous (MND), Qantas Airways (QAN), Technology One (TNE), Wesfarmers (WES).
- Interesting downtrends in today's Scans: CSL (CSL), Imugene (IMU), Propel Funeral Partners (PFP), The Star Entertainment Group (SGR).
It's funny how the fundamentals and technicals come together sometimes. I've read a few broker research notes recently that have expressed a growing preference towards ASX listed real estate stocks, as the perception grows the RBA will be forced to cut rates aggressively to ward off a recession (Citi is now tipping 100 basis points by the end of this year!).
Whilst the recession angle won't be good for any sector of the local market, it is generally true that valuations in the Real Estate Trusts Sector (XPJ) tend to improve in a lower interest rate environment. But that's all economic theory and rules of valuation thumb – which mean nothing to me.
All I care about is trends, price action, and candles. And to these ends, I'm noticing a rapidly increasing number of real estate stocks appearing in the Uptrends Scan List. Today, I note in alphabetical order only: CHC, CQR, GPT, MGR, PPC, SCG, and SGP.
The other "worth a mention" must be Boss Energy (BOE). It has been on a stonking run lately, first earning a Feature Chart appearance on the 1-May candle, and another in today's Features based on yesterday's candle. Uranium prices are on the mend, and BOE certainly appears to be a high beta play.
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 % |
Aussie Broadband | ABB | $4.25 | +9.0% | +14.7% |
Aristocrat Leisure | ALL | $68.28 | +4.8% | +71.0% |
ALS | ALQ | $17.36 | +11.9% | +32.6% |
AMA Group | AMA | $0.078 | +14.7% | +36.3% |
ASX | ASX | $71.89 | +12.6% | +12.9% |
Ausgold | AUC | $0.610 | +15.1% | +117.9% |
Bega Cheese | BGA | $5.93 | +12.3% | +32.7% |
Boss Energy | BOE | $3.98 | +77.7% | -25.0% |
Catapult Group International | CAT | $4.13 | +24.4% | +177.2% |
Charter Hall Group | CHC | $18.20 | +10.3% | +54.9% |
Coles Group | COL | $22.04 | +8.6% | +36.7% |
Charter Hall Retail Reit | CQR | $3.85 | +6.9% | +16.0% |
Dalrymple Bay Infrastructure/Notes | DBI | $4.14 | +7.5% | +48.4% |
Downer EDI | DOW | $5.99 | +9.1% | +29.4% |
Dateline Resources | DTR | $0.043 | +616.7% | +258.3% |
Emerald Resources | EMR | $4.55 | +18.2% | +39.6% |
Energy One | EOL | $12.85 | +16.8% | +222.1% |
Fletcher Building | FBU | $3.05 | +2.7% | -6.9% |
Global X Physical Gold ETF | GOLD | $48.08 | +4.4% | +48.7% |
GPT Group | GPT | $4.80 | +7.9% | +15.1% |
Gentrack Group | GTK | $11.28 | +12.0% | +50.0% |
Harvey Norman | HVN | $5.32 | +8.6% | +20.1% |
Inghams Group | ING | $3.71 | +17.8% | -1.9% |
Kingsgate Consolidated | KCN | $1.975 | +34.8% | +27.4% |
Mirvac Group | MGR | $2.33 | +9.4% | +13.1% |
Monadelphous Group | MND | $16.40 | +6.0% | +24.5% |
Netwealth Group | NWL | $28.69 | +19.6% | +45.1% |
Omni Bridgeway | OBL | $1.640 | +10.4% | +51.9% |
OOH!Media | OML | $1.670 | +12.5% | -0.6% |
Pantoro | PNR | $3.32 | +30.2% | +132.5% |
Peet | PPC | $1.695 | +16.9% | +41.3% |
Perenti | PRN | $1.395 | +6.5% | +49.2% |
Qantas Airways | QAN | $9.54 | +11.2% | +63.9% |
Qube | QUB | $4.17 | +6.9% | +18.8% |
Resmed Inc | RMD | $37.67 | +8.3% | +14.5% |
Resolute Mining | RSG | $0.580 | +31.8% | +33.3% |
Scentre Group | SCG | $3.69 | +8.2% | +17.1% |
Sims | SGM | $15.07 | +4.4% | +28.4% |
Stockland | SGP | $5.66 | +13.0% | +28.3% |
Service Stream | SSM | $1.895 | +8.3% | +49.8% |
Suncorp Group | SUN | $20.74 | +7.5% | +29.5% |
The Lottery Corporation | TLC | $5.29 | +9.8% | +8.5% |
Technology One | TNE | $31.55 | +12.8% | +95.7% |
TPG Telecom | TPG | $5.20 | +10.2% | +16.9% |
Temple & Webster Group | TPW | $18.60 | +15.6% | +59.0% |
Ventia Services Group | VNT | $4.49 | +8.7% | +22.7% |
Wesfarmers | WES | $79.99 | +8.3% | +17.1% |
WIA Gold | WIA | $0.225 | +36.4% | +125.0% |
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: ASX (ASX: ASX), Ausgold (ASX: AUC), Boss Energy (ASX: BOE), Catapult Group International (ASX: CAT), Charter Hall Group (ASX: CHC), Downer EDI (ASX: DOW), Dateline Resources (ASX: DTR), GPT Group (ASX: GPT), Inghams Group (ASX: ING), Kingsgate Consolidated (ASX: KCN), Monadelphous Group (ASX: MND), Qantas Airways (ASX: QAN), Qube (ASX: QUB), Stockland (ASX: SGP), Suncorp (ASX: SUN), Technology One (ASX: TNE), Temple & Webster Group (ASX: TPW), Wesfarmers (ASX: WES).
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
CSL | CSL | $242.98 | -5.7% | -11.9% |
Imugene | IMU | $0.022 | -21.4% | -73.2% |
Propel Funeral Partners | PFP | $5.08 | -3.6% | -5.6% |
The Star Entertainment Group | SGR | $0.105 | -32.3% | -80.9% |
Today's Downtrends Scan List
Charts of each below:
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.
Carl has over 30-year's 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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