Technical Analysis

ChartWatch ASX Scans: National Australia Bank, QBE, Race Oncology, Boss Energy, Brainchip, Core Lithium

Fri 07 Jun 24, 9:00am (AEST)
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Key Points

  • Interesting uptrends in today's Scan Lists include: Metro Mining (MMI), Mystate (MYS), National Australia Bank (NAB), QBE Insurance (QBE), Race Oncology (RAC), Global X Semiconductor ETF (SEMI), and Vanguard FTSE Europe ETF (VEQ).
  • Interesting downtrends in today's Scan Lists include: Boss Energy (BOE), Brainchip Holdings (BRN), Core Lithium (CXO), Iluka Resources (ILU), James Hardie Industries (JHX), and Kogan.Com (KGN).

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 %

Bendigo and Adelaide Bank

BEN

$11.24

+13.3%

+30.4%

Bisalloy Steel Group

BIS

$3.99

+10.2%

+122.1%

BetaShares Global Healthcare ETF

DRUG

$8.74

+2.7%

+12.3%

Dimerix

DXB

$0.540

+61.2%

+671.4%

Emerald Resources

EMR

$3.78

+8.3%

+89.0%

Graincorp

GNC

$9.30

+19.8%

+24.2%

Helia Group

HLI

$4.21

+11.1%

+36.4%

Imdex

IMD

$2.34

+23.5%

+22.8%

Kina Securities

KSL

$0.985

+3.7%

+33.1%

L1 Long Short Fund

LSF

$3.22

+6.3%

+15.4%

Munro Climate Change Leaders ETF

MCCL

$15.08

+5.8%

+57.6%

Metro Mining

MMI

$0.049

+16.7%

+172.2%

Mystate

MYS

$3.78

+6.5%

+13.9%

National Australia Bank

NAB

$35.00

+3.1%

+34.4%

Perenti

PRN

$1.030

+9.0%

-12.0%

Perseus Mining

PRU

$2.44

+4.7%

+31.9%

QBE Insurance Group

QBE

$18.41

+5.3%

+24.0%

Race Oncology

RAC

$1.750

+38.9%

+19.0%

Regal Partners

RPL

$3.55

+22.4%

+31.0%

Rpmglobal Holdings

RUL

$2.72

+4.6%

+81.3%

Global X Semiconductor ETF

SEMI

$18.07

+11.1%

+58.8%

Silver Lake Resources

SLR

$1.560

+5.4%

+47.9%

Step One Clothing

STP

$1.480

-0.7%

+377.4%

Vanguard FTSE Europe Shares ETF

VEQ

$75.13

+3.1%

+13.4%

VGI Partners Global Investments

VG1

$1.930

+7.8%

+19.5%

Wisetech Global

WTC

$100.22

+3.3%

+31.8%

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: Bendigo and Adelaide Bank (ASX: BEN), Dimerix (ASX: DXB), Graincorp (ASX: GNC), Kina Securities (ASX: KSL), L1 Long Short Fund (ASX: LSF), Metro Mining (ASX: MMI), Mystate (ASX: MYS), National Australia Bank (ASX: NAB), QBE Insurance Group (ASX: QBE), Race Oncology (ASX: RAC), Regal Partners (ASX: RPL), Global X Semiconductor ETF (ASX: SEMI), Vanguard FTSE Europe Shares ETF (ASX: VEQ).

Charts of each below:

Bendigo and Adelaide Bank (ASX-BEN) chart 6 June 2024Dimerix (ASX-DXB) chart 6 June 2024Global X Semiconductor ETF (ASX-SEMI) chart 6 June 2024Graincorp (ASX-GNC) chart 6 June 2024Kina Securities (ASX-KSL) chart 6 June 2024L1 Long Short Fund (ASX-LSF) chart 6 June 2024Metro Mining (ASX-MMI) chart 6 June 2024Mystate (ASX-MYS) chart 6 June 2024National Australia Bank (ASX-NAB) chart 6 June 2024QBE Insurance Group (ASX-QBE) chart 6 June 2024Race Oncology (ASX-RAC) chart 6 June 2024Regal Partners (ASX-RPL) chart 6 June 2024Vanguard FTSE Europe Shares ETF (ASX-VEQ) chart 6 June 2024

Downtrends Scan List

Company

Code

Last Price

1mo %

1yr %

Australian Finance Group

AFG

$1.405

-6.6%

-19.0%

Ampol

ALD

$34.54

-3.5%

+10.5%

Boss Energy

BOE

$4.33

-22.0%

+42.4%

Brainchip Holdings

BRN

$0.220

-22.8%

-52.2%

Calix

CXL

$1.250

-4.9%

-70.2%

Core Lithium

CXO

$0.105

-25.0%

-90.3%

Ebos Group

EBO

$31.20

-3.9%

-18.9%

Fortescue

FMG

$24.06

-9.7%

+17.9%

Iluka Resources

ILU

$7.12

-11.9%

-38.8%

Imugene

IMU

$0.059

-21.3%

-41.0%

James Hardie Industries

JHX

$46.24

-16.7%

+19.1%

Kogan.Com

KGN

$4.28

-10.5%

-6.3%

Lendlease Group

LLC

$5.88

-7.5%

-23.8%

Mirvac Group

MGR

$1.995

-5.0%

-15.1%

Mayne Pharma Group

MYX

$4.77

-33.2%

+25.9%

Platinum Asset Management

PTM

$0.995

-2.9%

-42.5%

Sayona Mining

SYA

$0.040

+8.1%

-77.8%

Syrah Resources

SYR

$0.450

-3.2%

-45.4%

Tabcorp Holdings

TAH

$0.605

-14.2%

-47.6%

Talga Group

TLG

$0.590

-16.9%

-51.6%

Woodside Energy Group

WDS

$27.11

-2.8%

-22.1%

Worley

WOR

$14.47

-7.3%

-11.8%

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: Boss Energy (ASX: BOE), Brainchip Holdings (ASX: BRN), Core Lithium (ASX: CXO), Iluka Resources (ASX: ILU), James Hardie Industries (ASX: JHX), Kogan.Com (ASX: KGN), Lendlease Group (ASX: LLC), Mayne Pharma Group (ASX: MYX), Platinum Asset Management (ASX: PTM), Tabcorp Holdings (ASX: TAH), Woodside Energy Group (ASX: WDS), Worley (ASX: WOR).

Charts of each below:

Boss Energy (ASX-BOE) chart 6 June 2024Brainchip Holdings (ASX-BRN) chart 6 June 2024Core Lithium (ASX-CXO) chart 6 June 2024Iluka Resources (ASX-ILU) chart 6 June 2024James Hardie Industries (ASX-JHX) chart 6 June 2024Kogan.Com (ASX-KGN) chart 6 June 2024Lendlease Group (ASX-LLC) chart 6 June 2024Mayne Pharma Group (ASX-MYX) chart 6 June 2024Platinum Asset Management (ASX-PTM) chart 6 June 2024Tabcorp Holdings (ASX-TAH) chart 6 June 2024Woodside Energy Group (ASX-WDS) chart 6 June 2024Worley (ASX-WOR) chart 6 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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