Technical Analysis

ChartWatch ASX Scans: Car Group, Droneshield, Technology One, Brainchip, Champion Iron, Deterra Royalties, IGO

Thu 06 Jun 24, 9:00am (AEST)
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Key Points

  • Interesting uptrends in today's Scan Lists include: Car Group (CAR), Droneshield (DRO), Fisher & Paykel Healthcare (FPH), Graincorp (GNC), HMC Capital (HMC), Hub24 (HUB), Technology One (TNE), and Unibail-Rodamco-Westfield (URW)
  • Interesting downtrends in today's Scan Lists include: Brainchip (BRN), Champion Iron (CIA), Deterra Royalties (DRR), Develop Global (DVP), IGO (IGO), James Hardie (JHX), Novonix (NVX), Siteminder (SDR), Weebit Nano (WBT), and Woodside Energy (WDS)

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 %

Aurora Labs

A3D

$0.070

+70.7%

+233.3%

Australian Unity Office Fund

AOF

1.380

1.1%

7.1%

ARB Corporation

ARB

38.600

-0.2%

35.4%

Bcal Diagnostics

BDX

$0.140

+53.8%

+133.3%

Bega Cheese

BGA

4.480

0.7%

24.4%

Car Group

CAR

35.710

2.5%

50.6%

Cochlear

COH

327.950

0.0%

33.9%

Cleanaway Waste Management

CWY

2.850

4.4%

6.7%

Droneshield

DRO

1.350

51.7%

400.0%

Environmental Group (The)

EGL

$0.310

+14.8%

+55.0%

Elsight

ELS

$0.495

+35.6%

+65.0%

EQT Holdings

EQT

$33.08

+8.8%

+25.6%

Frontier Energy

FHE

$0.470

+34.3%

+8.0%

Fisher & Paykel Healthcare

FPH

28.810

10.0%

29.7%

Graincorp

GNC

9.230

17.4%

22.6%

HMC Capital

HMC

7.470

15.6%

74.1%

Hotel Property Investments

HPI

3.370

0.3%

-3.2%

Hub24

HUB

44.490

7.4%

79.3%

JB HI-FI

JBH

59.120

-3.1%

39.5%

Macquarie Technology Group

MAQ

89.000

2.0%

49.6%

MFF Capital Investments

MFF

3.640

3.4%

32.4%

Magellan Global Fund

MGF

2.170

2.4%

34.4%

Metro Mining

MMI

0.048

17.1%

152.6%

Vaneck Australian Banks ETF

MVB

$34.55

+3.0%

+24.0%

Mystate

MYS

3.720

3.9%

12.0%

National Australia Bank

NAB

34.800

1.9%

34.9%

Navigator Global Investments

NGI

2.110

18.5%

100.8%

Oneview Healthcare

ONE

$0.355

+29.1%

+75.3%

Pro Medicus

PME

122.920

8.7%

97.8%

Prophecy International

PRO

$0.910

+1.1%

+87.6%

Resolute Mining

RSG

0.535

23.0%

4.9%

Step One Clothing

STP

$1.455

-3.0%

+369.4%

Sovereign Metals

SVM

$0.650

+28.7%

+60.5%

Telix Pharmaceuticals

TLX

17.890

19.5%

65.3%

Technology One

TNE

18.030

11.3%

9.4%

Unibail-Rodamco-Westfield

URW

6.650

1.7%

90.5%

Vanguard FTSE Europe Shares ETF

VEQ

$74.63

+3.2%

+13.1%

Viva Leisure

VVA

$1.560

+10.6%

+24.8%

Webjet

WEB

8.830

5.9%

20.6%

WAM Global

WGB

2.280

4.1%

20.0%

Xref

XF1

$0.190

+46.2%

-5.0%

Today's Uptrends Scan List

Interesting charts from today's Uptrends List πŸ”ŽπŸ“ˆ

The stocks that I feel are showing the strongest excess demand from today's Uptrends List are: Car Group (ASX: CAR), Droneshield (ASX: DRO), EQT Holdings (ASX: EQT), Fisher & Paykel Healthcare Corporation (ASX: FPH), Graincorp (ASX: GNC), HMC Capital (ASX: HMC), Hotel Property Investments (ASX: HPI), Hub24 (ASX: HUB), Mystate (ASX: MYS), Navigator Global Investments (ASX: NGI), Technology One (ASX: TNE), Unibail-Rodamco-Westfield (ASX: URW).

Charts of each below:

Car Group (ASX-CAR) chart 5 June 2024Droneshield (ASX-DRO) chart 5 June 2024EQT Holdings (ASX-EQT) chart 5 June 2024Fisher & Paykel Healthcare Corporation (ASX-FPH) chart 5 June 2024Graincorp (ASX-GNC) chart 5 June 2024HMC Capital (ASX-HMC) chart 5 June 2024Hotel Property Investments (ASX-HPI) chart 5 June 2024Hub24 (ASX-HUB) chart 5 June 2024Mystate (ASX-MYS) chart 5 June 2024Navigator Global Investments (ASX-NGI) chart 5 June 2024Technology One (ASX-TNE) chart 5 June 2024Unibail-Rodamco-Westfield (ASX-URW) chart 5 June 2024

Downtrends Scan List

Company

Code

Last Price

1mo %

1yr %

Australian Finance Group

AFG

$0.000

+1.1%

+7.1%

Brainchip Holdings

BRN

$0.000

-0.2%

+35.4%

Bluescope Steel

BSL

$0.000

+0.7%

+24.4%

Champion Iron

CIA

$0.000

+2.5%

+50.6%

De Grey Mining

DEG

$0.000

+0.0%

+33.9%

Deterra Royalties

DRR

$0.000

+4.4%

+6.7%

Develop Global

DVP

$0.000

+51.7%

+400.0%

Grange Resources

GRR

$0.000

+10.0%

+29.7%

IDP Education

IEL

$0.000

+17.4%

+22.6%

IGO

IGO

$0.000

+15.6%

+74.1%

James Hardie Industries

JHX

$0.000

+0.3%

-3.2%

Lendlease Group

LLC

$0.000

+7.4%

+79.3%

Arcadium Lithium

LTM

$0.000

-3.1%

+39.5%

Liontown Resources

LTR

$0.000

+2.0%

+49.6%

Monadelphous Group

MND

$0.000

+3.4%

+32.4%

Monash IVF Group

MVF

$0.000

+2.4%

+34.4%

Nine Entertainment Co.

NEC

$0.000

+17.1%

+152.6%

Novonix

NVX

$0.000

+3.9%

+12.0%

Ridley Corporation

RIC

$0.000

+1.9%

+34.9%

Siteminder

SDR

$0.000

+18.5%

+100.8%

Strike Energy

STX

$0.000

+8.7%

+97.8%

Tabcorp Holdings

TAH

$0.000

+23.0%

+4.9%

Temple & Webster Group

TPW

$0.000

+19.5%

+65.3%

Weebit Nano

WBT

$0.000

+11.3%

+9.4%

Woodside Energy Group

WDS

$0.000

+1.7%

+90.5%

Today's Downtrends Scan List

Interesting charts from today's Downtrends List πŸ”ŽπŸ“‰

The stocks that I feel are showing the strongest excess supply from today's Downtrends List are: Brainchip Holdings (ASX: BRN), Champion Iron (ASX: CIA), Deterra Royalties (ASX: DRR), Develop Global (ASX: DVP), IGO (ASX: IGO), James Hardie Industries (ASX: JHX), Nine Entertainment Co. Holdings (ASX: NEC), Novonix (ASX: NVX), Siteminder (ASX: SDR), Weebit Nano (ASX: WBT), Woodside Energy Group (ASX: WDS).

Charts of each below:

Brainchip Holdings (ASX-BRN) chart 5 June 2024Champion Iron (ASX-CIA) chart 5 June 2024Deterra Royalties (ASX-DRR) chart 5 June 2024Develop Global (ASX-DVP) chart 5 June 2024IGO (ASX-IGO) chart 5 June 2024James Hardie Industries (ASX-JHX) chart 5 June 2024Nine Entertainment Co. Holdings (ASX-NEC) chart 5 June 2024Novonix (ASX-NVX) chart 5 June 2024Siteminder (ASX-SDR) chart 5 June 2024Weebit Nano (ASX-WBT) chart 5 June 2024Woodside Energy Group (ASX-WDS) chart 5 June 2024

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.

 

Written By

Carl Capolingua

Content Editor

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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