Evening Wrap: ASX 200 edges higher as financials, property and tech stocks lead, worrying China market move drags down commodities
Mon 16 Sep 24, 5:46pm (AEST)
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/ChartWatch ASX Scans: Catalyst Metals, Frontier Energy, XRF Scientific, Xero, Calix, Lynas Rare Earths, Nufarm
Technical Analysis
ChartWatch ASX Scans: Catalyst Metals, Frontier Energy, XRF Scientific, Xero, Calix, Lynas Rare Earths, Nufarm
Thu 11 Jul 24, 9:00am (AEST)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scans: ANZ (ANZ), Catalyst Metals (CYL), Codan (CDA), Energy One (EOL), Frontier Energy (FHE), JB HI-FI (JBH), Metro Mining (MMI), Mitre Mining (MMC), Perseus (PRU), Spartan Resources (SPR), XRF Scientific (XRF), Xero (XRO)
- Interesting downtrends in today's Scans: Audinate (AD8), Bannerman Energy (BMN), Calix (CXL), Chalice Mining (CHN), Champion Iron (CIA), Iluka Resources (ILU), James Hardie (JHX), Lynas Rare Earths (LYC), Monadelphous (MND), Nufarm (NUF), 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 | $51.70 | +10.4% | +40.5% |
Aurelia Metals | AMI | $0.220 | +25.7% | +136.6% |
ANZ Group | ANZ | $29.70 | +2.7% | +27.6% |
Austal | ASB | $2.50 | +5.0% | -6.7% |
AUB Group | AUB | $31.80 | +1.0% | +9.0% |
Bendigo and Adelaide Bank | BEN | $11.65 | +3.6% | +36.7% |
Biome Australia | BIO | $0.625 | +95.3% | +711.7% |
Catapult Group International | CAT | $1.880 | +2.7% | +106.6% |
Commonwealth Bank of Australia | CBA | $128.54 | +2.9% | +30.2% |
Codan | CDA | $12.27 | +12.6% | +61.9% |
Capricorn Metals | CMM | $5.15 | +16.0% | +28.1% |
Cochlear | COH | $325.14 | -0.3% | +46.8% |
Catalyst Metals | CYL | $1.410 | +41.7% | +69.9% |
Djerriwarrh Investments | DJW | $3.09 | +4.0% | +9.6% |
Energy One | EOL | $5.19 | +19.3% | +83.2% |
EQT | EQT | $32.92 | +4.1% | +29.2% |
Firefly Metals | FFM | $0.825 | +22.2% | +96.4% |
Future Generation Australia | FGX | $1.205 | +3.9% | +10.6% |
Frontier Energy | FHE | $0.530 | +19.1% | +39.5% |
Fisher & Paykel Healthcare | FPH | $28.02 | +1.9% | +24.4% |
G8 Education | GEM | $1.270 | +7.6% | +24.5% |
Hearts and Minds Investments | HM1 | $2.62 | +2.3% | +14.9% |
Insurance Australia Group | IAG | $7.07 | +8.4% | +23.4% |
JB HI-FI | JBH | $64.39 | +7.8% | +48.7% |
Macquarie Technology Group | MAQ | $95.16 | +9.0% | +43.1% |
Magellan Financial Group | MFG | $9.51 | +12.4% | +13.4% |
Mitre Mining Corporation | MMC | $0.985 | +41.7% | +258.2% |
Metro Mining | MMI | $0.058 | +20.8% | +152.2% |
Vaneck Australian Banks ETF | MVB | $35.45 | +3.0% | +27.7% |
Netwealth Group | NWL | $21.91 | +2.6% | +64.1% |
Propel Funeral Partners | PFP | $5.90 | +6.5% | +41.5% |
Pinnacle Investment Management | PNI | $15.29 | +15.8% | +65.1% |
Perseus Mining | PRU | $2.51 | +7.7% | +54.9% |
REA Group | REA | $197.69 | +5.1% | +41.6% |
Steadfast Group | SDF | $6.44 | +17.3% | +8.2% |
Superloop | SLC | $1.575 | +12.5% | +176.3% |
Spartan Resources | SPR | $0.970 | +34.7% | +413.8% |
Service Stream | SSM | $1.280 | +9.4% | +56.1% |
Technology One | TNE | $18.51 | +2.8% | +23.1% |
Wisetech Global | WTC | $98.48 | -1.1% | +30.0% |
XRF Scientific | XRF | $1.475 | +11.7% | +27.7% |
Xero | XRO | $136.84 | +6.1% | +18.8% |
Today's Uptrends Scan List
Interesting charts from today's Uptrends List 🔎📈
The stocks that I feel are showing the strongest excess demand from today's Uptrends List are: ANZ Group (ASX: ANZ), Aristocrat Leisure (ASX: ALL), Catalyst Metals (ASX: CYL), Codan (ASX: CDA), Commonwealth Bank of Australia (ASX: CBA), Energy One (ASX: EOL), Frontier Energy (ASX: FHE), Insurance Australia Group (ASX: IAG), JB HI-FI (ASX: JBH), Macquarie Technology Group (ASX: MAQ), Metro Mining (ASX: MMI), Mitre Mining Corporation (ASX: MMC), Perseus Mining (ASX: PRU), Pinnacle Investment Management Group (ASX: PNI), Propel Funeral Partners (ASX: PFP), Spartan Resources (ASX: SPR), Steadfast Group (ASX: SDF), XRF Scientific (ASX: XRF), Xero (ASX: XRO).
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Audinate Group | AD8 | $15.33 | -7.0% | +70.0% |
Auckland International Airport | AIA | $6.91 | -0.6% | -10.1% |
Ampol | ALD | $33.12 | -1.4% | +14.3% |
Atlas Arteria | ALX | $5.11 | +1.0% | -16.9% |
Bannerman Energy | BMN | $3.05 | -25.1% | +84.3% |
Bluescope Steel | BSL | $19.93 | -2.4% | +2.2% |
Chalice Mining | CHN | $1.245 | -15.9% | -79.8% |
Champion Iron | CIA | $6.23 | -5.6% | +10.3% |
Centuria Industrial Reit | CIP | $3.04 | -2.3% | -1.3% |
Charter Hall Long Wale Reit | CLW | $3.33 | -2.6% | -16.1% |
Centuria Office Reit | COF | $1.150 | -1.7% | -17.3% |
Corporate Travel Management | CTD | $13.06 | -2.0% | -27.6% |
Cettire | CTT | $1.205 | -48.1% | -63.6% |
Calix | CXL | $1.060 | -12.8% | -76.0% |
Develop Global | DVP | $2.01 | -6.1% | -39.5% |
Dexus Industria Reit. | DXI | $2.77 | -5.8% | +2.6% |
Dexus | DXS | $6.46 | -3.7% | -17.5% |
EVT | EVT | $11.30 | -2.3% | -2.0% |
Fletcher Building | FBU | $2.67 | -6.3% | -48.2% |
Fortescue | FMG | $21.59 | -8.5% | -0.4% |
Growthpoint Properties Australia | GOZ | $2.15 | -8.5% | -21.5% |
Hansen Technologies | HSN | $4.39 | -2.7% | -12.4% |
Iluka Resources | ILU | $6.53 | -5.6% | -41.5% |
James Hardie Industries | JHX | $45.78 | -0.5% | +18.3% |
Latin Resources | LRS | $0.155 | -31.1% | -50.8% |
Lynas Rare Earths | LYC | $6.23 | -5.0% | -12.1% |
Monadelphous Group | MND | $12.63 | -3.7% | +9.5% |
Nickel Industries | NIC | $0.810 | -12.0% | -6.4% |
Nufarm | NUF | $4.47 | -4.9% | -13.2% |
OOH!Media | OML | $1.335 | -2.9% | +6.8% |
Orora | ORA | $1.910 | -7.7% | -36.9% |
Reece | REH | $24.00 | -7.9% | +36.4% |
Rio Tinto | RIO | $119.37 | -2.9% | +6.8% |
Reliance Worldwide Corporation | RWC | $4.33 | -9.8% | +11.0% |
Sims | SGM | $10.34 | -1.8% | -32.1% |
Spark New Zealand | SPK | $3.70 | -1.3% | -20.4% |
Seven Group | SVW | $35.01 | -11.6% | +48.5% |
Sayona Mining | SYA | $0.032 | -13.5% | -82.2% |
Syrah Resources | SYR | $0.310 | -27.9% | -66.4% |
Terracom | TER | $0.215 | -2.3% | -54.3% |
Talga Group | TLG | $0.555 | 0% | -60.5% |
Viva Energy Group | VEA | $3.09 | -5.8% | +5.8% |
Vulcan Steel | VSL | $6.34 | -10.6% | -25.0% |
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), Bannerman Energy (ASX: BMN), Calix (ASX: CXL), Chalice Mining (ASX: CHN), Champion Iron (ASX: CIA), Corporate Travel Management (ASX: CTD), Iluka Resources (ASX: ILU), James Hardie Industries (ASX: JHX), Lynas Rare Earths (ASX: LYC), Monadelphous Group (ASX: MND), Nufarm (ASX: NUF), Orora (ASX: ORA), Reliance Worldwide Corporation (ASX: RWC), Viva Energy Group (ASX: VEA), Vulcan Steel (ASX: VSL).
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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