ChartWatch ASX Scans: CBA leads banks back from oblivion, plus big blue chip shipping list: WES, TLS, COL, WOW
Your daily dose of the most interesting uptrends and downtrends on the ASX with technical analysis from an expert.
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Mentioned
KEY POINTS
- Interesting uptrends in today's Scans: Aussie Broadband (ABB), Commonwealth Bank of Australia (CBA), Coles Group (COL), St Barbara (SBM), Transurban (TCL), Telstra (TLS), Telix Pharmaceuticals (TLX), TPG Telecom (TPG), Wesfarmers (WES), Woolworths (WOW).
- Interesting downtrends in today's Scans: Coronado Global Resources (CRN), Skycity Entertainment Group (SKC).
The best week since December 2023 and the best in over 10 years apart from that one for the ASX 200, means we kick off this week's trading with a deluge of strong Uptrend Scan List constituents.
Importantly, the list is also broadening in terms of the sectors these great new uptrends are coming from, as well as in company size – i.e., small, to medium, to big.
Commonwealth Bank of Australia (CBA) adds to its record breaking run of Feature Uptrends with its 51st entry since ChartWatch Scans began at the end of May last year. So, this means CBA's has made this list of absolute premium uptrends on average once a week for as long as ChartWatch Scans has been around.
There's only one stock that has made ChartWatch Scans more times: Coronado Global Resources (CRN). Unfortunately for CRN shareholders, however, it's earned the dubious honour of Feature Downtrend 54 times as of today's appearance.
But such is the consistency of trend following. Follow the trend until it bends. Trend following cares nothing about the fact that for the last 12 months CBA was nearly-unanimously rated as a SELL or sell-equivalent by the major brokers, or that CRN was for the most part rated a BUY or buy-equivalent.
Trend following empowers its users to make their own minds up, based upon the purest form of analysis: Demand versus supply.
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 % |
|---|---|---|---|---|
The A2 Milk Company | A2M | $8.47 | +6.8% | +38.9% |
Aussie Broadband | ABB | $4.19 | +5.0% | +13.7% |
Australian Finance Group | AFG | $1.865 | +16.9% | +24.3% |
Aristocrat Leisure | ALL | $67.66 | +5.5% | +69.5% |
ALS | ALQ | $17.28 | +12.1% | +31.8% |
Eagers Automotive | APE | $19.10 | +27.4% | +51.1% |
BetaShares Australian Quality ETF | AQLT | $31.12 | +5.3% | +12.6% |
BetaShares Global Defence ETF | ARMR | $21.40 | +8.9% | 0% |
Abacus Storage King | ASK | $1.510 | +28.5% | +33.6% |
Bega Cheese | BGA | $5.93 | +11.9% | +43.2% |
Bank of Queensland | BOQ | $7.49 | +11.1% | +21.8% |
Bluescope Steel | BSL | $23.90 | +12.3% | +4.4% |
Commonwealth Bank of Australia | CBA | $169.66 | +12.4% | +48.1% |
Charter Hall Group | CHC | $17.57 | +8.6% | +46.5% |
Coles Group | COL | $21.93 | +12.3% | +35.2% |
Cedar Woods Properties | CWP | $6.24 | +20.2% | +31.4% |
Droneshield | DRO | $1.320 | +45.9% | +66.0% |
Dateline Resources | DTR | $0.027 | +440.0% | +125.0% |
Echoiq | EIQ | $0.360 | +30.9% | +260.0% |
Global X Euro Stoxx 50 ETF | ESTX | $102.12 | +1.6% | +10.8% |
Evolution Mining | EVN | $7.95 | +11.8% | +95.8% |
EVT | EVT | $14.67 | +10.2% | +21.9% |
Fineos Corporation | FCL | $2.40 | +20.3% | +33.3% |
Genusplus Group | GNP | $2.96 | +4.6% | +56.6% |
Helia Group | HLI | $5.03 | +26.1% | +38.8% |
Hub24 | HUB | $75.88 | +11.2% | +88.0% |
Harvey Norman | HVN | $5.30 | +6.0% | +15.5% |
Intelligent Monitoring Group | IMB | $0.595 | +21.4% | +75.0% |
Imdex | IMD | $3.00 | +1.4% | +42.9% |
Imricor Medical Systems | IMR | $1.765 | +27.9% | +242.7% |
Ingenia Communities Group | INA | $5.71 | +5.4% | +22.5% |
Inghams Group | ING | $3.50 | +11.8% | -4.9% |
Koonenberry Gold | KNB | $0.076 | +85.4% | +205.5% |
Vaneck Australian Banks ETF | MVB | $38.93 | +6.1% | +20.3% |
Omni Bridgeway | OBL | $1.550 | +9.2% | +25.0% |
Objective Corporation | OCL | $16.42 | +8.8% | +31.8% |
Pro Medicus | PME | $238.53 | +19.4% | +114.1% |
Resmed Inc | RMD | $37.26 | +6.6% | +13.4% |
Regis Resources | RRL | $4.46 | +13.8% | +100.9% |
St Barbara | SBM | $0.310 | +24.0% | +12.7% |
Stockland | SGP | $5.55 | +13.3% | +24.7% |
Sigma Healthcare | SIG | $3.10 | +7.6% | +138.5% |
Superloop | SLC | $2.59 | +22.7% | +93.3% |
Washington H Soul Pattinson & Company | SOL | $37.32 | +7.6% | +14.2% |
Service Stream | SSM | $1.865 | +6.9% | +46.3% |
Solvar | SVR | $1.735 | +20.5% | +79.8% |
Transurban Group | TCL | $14.38 | +7.4% | +14.7% |
Telstra Group | TLS | $4.58 | +8.8% | +24.8% |
Telix Pharmaceuticals | TLX | $29.32 | +10.6% | +89.0% |
Technology One | TNE | $31.25 | +12.2% | +92.3% |
TPG Telecom | TPG | $5.13 | +6.9% | +13.7% |
Wesfarmers | WES | $79.56 | +10.5% | +19.1% |
Woolworths Group | WOW | $32.68 | +10.6% | +3.6% |
Waypoint Reit | WPR | $2.62 | +10.5% | +11.5% |
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: Aussie Broadband (ASX: ABB), Eagers Automotive (ASX: APE), Abacus Storage King (ASX: ASK), Bank of Queensland (ASX: BOQ), Commonwealth Bank of Australia (ASX: CBA), Coles Group (ASX: COL), Cedar Woods Properties (ASX: CWP), Fineos Corporation (ASX: FCL), Intelligent Monitoring Group (ASX: IMB), Vaneck Australian Banks ETF (ASX: MVB), Omni Bridgeway (ASX: OBL), St Barbara (ASX: SBM), Superloop (ASX: SLC), Solvar (ASX: SVR), Transurban Group (ASX: TCL), Telstra Group (ASX: TLS), Telix Pharmaceuticals (ASX: TLX), TPG Telecom (ASX: TPG), Wesfarmers (ASX: WES), Woolworths Group (ASX: WOW).
Charts of each below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Amcor | AMC | $14.23 | -7.2% | +3.0% |
Coronado Global Resources | CRN | $0.175 | -47.0% | -85.9% |
Guzman y Gomez | GYG | $31.65 | -1.8% | 0% |
Skycity Entertainment Group | SKC | $1.040 | -9.2% | -35.2% |
WA1 Resources | WA1 | $11.59 | -11.1% | -34.7% |
WEB Travel Group | WEB | $4.16 | -8.8% | -41.9% |
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: Coronado Global Resources (ASX: CRN), Skycity Entertainment Group (ASX: SKC).
Charts of each below:
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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.
