Evening Wrap: ASX 200 dips but logs important weekly gain despite falling bank shares, lithium stocks pop as investors seek bargains
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Technical Analysis
/ChartWatch ASX Scans: Brazilian Rare Earths, CommBank, Pinnacle Investment, REA, Technology One, Boss Energy, Paladin, Soul-Patts
Technical Analysis
ChartWatch ASX Scans: Brazilian Rare Earths, CommBank, Pinnacle Investment, REA, Technology One, Boss Energy, Paladin, Soul-Patts
Tue 05 Nov 24, 9:00am (AEDT)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scans: Aristocrat Leisure (ALL), Brazilian Rare Earths (BRE), Car Group (CAR), Commonwealth Bank CBA), Pinnacle Investment Management (PNI), REA (REA), Sigma Healthcare (SIG), Technology One (TNE), Yandal Resources (YRL).
- Interesting downtrends in today's Scans: Boss Energy (BOE), Flight Centre (FLT), Johns Lyng (JLG), Mineral Resources (MIN), Nick Scali (NCK), Nine Entertainment (NEC), Paladin Energy (PDN), Star Entertainment (SGR), Soul-Patts (SOL), Viva Energy (VEA).
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 % |
Aristocrat Leisure | ALL | $62.33 | +9.5% | +59.7% |
BetaShares S&P/ASX Australian Technology ETF | ATEC | $27.59 | +2.5% | +52.7% |
Brazilian Rare Earths | BRE | $2.99 | +18.2% | 0% |
Car Group | CAR | $38.35 | +3.3% | +37.4% |
Commonwealth Bank of Australia | CBA | $144.35 | +8.7% | +49.0% |
Pinnacle Investment Management Group | PNI | $20.24 | +12.4% | +157.2% |
Redox | RDX | $3.76 | +10.3% | +62.1% |
REA Group | REA | $233.05 | +9.3% | +60.6% |
Sigma Healthcare | SIG | $2.02 | -1.0% | +217.5% |
Telix Pharmaceuticals | TLX | $22.20 | +8.4% | +151.1% |
Technology One | TNE | $24.91 | +2.7% | +70.4% |
Westpac Banking Corporation | WBC | $32.40 | +7.5% | +57.1% |
Xero | XRO | $150.28 | +3.4% | +40.4% |
Yandal Resources | YRL | $0.380 | +363.4% | +617.0% |
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: Aristocrat Leisure (ASX: ALL), Brazilian Rare Earths (ASX: BRE), Car Group (ASX: CAR), Commonwealth Bank of Australia (ASX: CBA), Pinnacle Investment Management Group (ASX: PNI), REA Group (ASX: REA), Sigma Healthcare (ASX: SIG), Technology One (ASX: TNE), Yandal Resources (ASX: YRL).
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
Ampol | ALD | $28.02 | -10.5% | -13.1% |
Arafura Rare Earths | ARU | $0.145 | -19.4% | -21.6% |
Boss Energy | BOE | $3.18 | -5.4% | -26.4% |
Centuria Industrial Reit | CIP | $3.05 | -5.3% | +6.3% |
Charter Hall Social Infrastructure Reit | CQE | $2.59 | -10.1% | +6.6% |
Charter Hall Retail Reit | CQR | $3.37 | -5.9% | +8.7% |
Corporate Travel Management | CTD | $11.71 | -6.7% | -29.1% |
Cettire | CTT | $1.390 | -22.3% | -45.1% |
Clinuvel Pharmaceuticals | CUV | $13.61 | -3.4% | -7.5% |
Dexus Industria Reit. | DXI | $2.64 | -4.0% | +8.6% |
Flight Centre Travel Group | FLT | $15.53 | -26.9% | -15.9% |
Johns Lyng Group | JLG | $3.70 | +3.4% | -39.8% |
Lifestyle Communities | LIC | $8.45 | -5.1% | -45.2% |
Lotus Resources | LOT | $0.245 | -5.8% | +16.7% |
Mineral Resources | MIN | $36.70 | -28.0% | -37.5% |
Metcash | MTS | $3.06 | -13.3% | -16.6% |
Nick Scali | NCK | $14.00 | -11.7% | +29.9% |
Nine Entertainment | NEC | $1.135 | -8.1% | -39.0% |
Novonix | NVX | $0.675 | -10.6% | 0% |
Paladin Energy | PDN | $9.83 | -15.7% | +4.0% |
Polynovo | PNV | $2.01 | -17.3% | +67.5% |
Ramsay Health Care | RHC | $39.49 | -6.9% | -19.5% |
Steadfast Group | SDF | $5.41 | -3.6% | +0.2% |
The Star Entertainment Group | SGR | $0.210 | -20.8% | -65.3% |
Washington H Soul Pattinson & Company | SOL | $32.81 | -7.0% | -2.2% |
Viva Energy Group | VEA | $2.62 | -13.2% | -8.1% |
Woolworths Group | WOW | $29.89 | -9.4% | -13.7% |
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: Boss Energy (ASX: BOE), Flight Centre Travel Group (ASX: FLT), Johns Lyng Group (ASX: JLG), Mineral Resources (ASX: MIN), Nick Scali (ASX: NCK), Nine Entertainment (ASX: NEC), Paladin Energy (ASX: PDN), The Star Entertainment Group (ASX: SGR), Washington H Soul Pattinson & Company (ASX: SOL), Viva Energy Group (ASX: VEA).
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-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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