Evening Wrap: ASX 200 slumps on escalating Mid-East conflict, but golden lining for war winners energy and gold stocks
Fri 04 Oct 24, 5:21pm (AEDT)
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/ChartWatch ASX Scans: Commonwealth Bank, Droneshield, Humm Group, Qantas Airways, Bellevue Gold, Megaport, Wildcat Resources
Technical Analysis
ChartWatch ASX Scans: Commonwealth Bank, Droneshield, Humm Group, Qantas Airways, Bellevue Gold, Megaport, Wildcat Resources
Tue 03 Sep 24, 9:00am (AEDT)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scans: ANZ Group (ANZ), Commonwealth Bank (CBA), Coles (COL), Droneshield (DRO), Healius (HLS), HMC Capital (HMC), Humm Group (HUM), JB HI-FI (JBH), Qantas Airways (QAN), Rimfire Pacific Mining (RIM), Supply Network (SNL)
- Interesting downtrends in today's Scans: APA Group (APA), Bellevue Gold (BGL), Boss Energy (BOE), Beach Energy (BPT), Coronado Resources (CRN), Johns Lyng (JLG), Liontown (LTR), Mineral Resources (MIN), Megaport (MP1), Neuren Pharmaceuticals (NEU
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 % |
BetaShares Australia 200 ETF | A200 | $135.84 | +2.7% | +11.4% |
Australian Finance Group | AFG | $1.600 | +6.0% | +3.2% |
Argo Global Listed Infrastructure | ALI | $2.30 | +6.0% | +5.0% |
AGL Energy | AGL | $11.67 | +10.4% | +5.4% |
AMP | AMP | $1.300 | +9.7% | +3.6% |
BetaShares Global Cash Flow Kings ETF | CFLO | $17.06 | +1.9% | 0% |
Bravura Solutions | BVS | $1.355 | +23.2% | +76.0% |
Coles Group | COL | $18.95 | +4.4% | +16.7% |
Charter Hall Long Wale Reit | CLW | $3.91 | +11.1% | +10.5% |
Droneshield | DRO | $1.465 | +28.5% | +372.6% |
Dexus Convenience Retail Reit | DXC | $2.90 | -2.7% | +14.2% |
Ansell | ANN | $30.65 | +14.1% | +31.3% |
EZZ Life Science | EZZ | $2.90 | +70.1% | +371.5% |
ANZ Group | ANZ | $30.66 | +6.8% | +22.4% |
BetaShares Global Healthcare Hedged ETF | DRUG | $9.16 | +3.9% | +14.8% |
Capitol Health | CAJ | $0.320 | +6.7% | +48.8% |
Breville Group | BRG | $33.82 | +16.6% | +38.6% |
Bank of Queensland | BOQ | $6.40 | +3.1% | +9.2% |
Commonwealth Bank of Australia | CBA | $141.77 | +7.0% | +39.2% |
Elders | ELD | $9.37 | +2.6% | +42.2% |
BetaShares Australian Sustainability Leaders ETF | FAIR | $20.69 | +4.8% | +11.8% |
Fisher & Paykel Healthcare Corporation | FPH | $33.50 | +11.9% | +62.0% |
Hearts and Minds Investments | HM1 | $2.83 | +4.8% | +17.4% |
GDI Property Group | GDI | $0.690 | +12.2% | +9.5% |
HMC Capital | HMC | $8.57 | +9.9% | +63.9% |
Healius | HLS | $1.750 | +19.5% | -28.7% |
Hotel Property Investments | HPI | $3.52 | +3.2% | +16.6% |
Judo Capital | JDO | $1.665 | +19.8% | +80.0% |
Humm Group | HUM | $0.740 | +54.2% | +66.3% |
Insurance Australia Group | IAG | $7.61 | +5.1% | +31.9% |
Killi Resources | KLI | $0.170 | +84.8% | +142.9% |
JB HI-FI | JBH | $80.98 | +20.1% | +79.0% |
Kina Securities | KSL | $1.080 | +2.9% | +36.7% |
James Hardie Industries | JHX | $55.84 | +5.4% | +22.0% |
Medibank Private | MPL | $3.99 | 0% | +12.1% |
Mayur Resources | MRL | $0.300 | +20.0% | +66.7% |
Vaneck Australian Property ETF | MVA | $23.57 | +5.0% | +12.9% |
Macquarie Group | MQG | $217.04 | +5.0% | +22.6% |
Vaneck Australian Banks ETF | MVB | $38.60 | +8.6% | +32.6% |
Nuix | NXL | $4.88 | +48.8% | +206.9% |
National Australia Bank | NAB | $38.65 | +5.9% | +34.0% |
Northern Star Resources | NST | $15.10 | +6.1% | +27.4% |
Pacific Current Group | PAC | $11.40 | +4.6% | +3.4% |
Pro Medicus | PME | $150.83 | +6.9% | +103.6% |
Qantas Airways | QAN | $6.87 | +13.0% | +13.9% |
Qube | QUB | $3.91 | +4.5% | +26.5% |
Reece | REH | $27.94 | +1.9% | +38.5% |
Rimfire Pacific Mining | RIM | $0.082 | +70.8% | +1071.4% |
Reliance Worldwide Corporation | RWC | $5.46 | +10.1% | +31.3% |
Scentre Group | SCG | $3.46 | +0.9% | +25.8% |
Supply Network | SNL | $29.98 | +19.2% | +103.1% |
Stockland | SGP | $5.06 | +11.2% | +19.6% |
Shaver Shop Group | SSG | $1.255 | +4.6% | +8.7% |
Super Retail Group | SUL | $17.99 | +14.1% | +41.0% |
Suncorp Group | SUN | $17.81 | +3.5% | +32.5% |
TPG Telecom | TPG | $4.98 | +8.3% | -9.5% |
Transurban Group | TCL | $13.60 | +5.7% | +0.7% |
Tuas | TUA | $4.41 | -2.2% | +120.5% |
Technology One | TNE | $23.02 | +10.3% | +51.6% |
Wisetech Global | WTC | $121.45 | +31.4% | +71.4% |
Westpac Banking Corporation | WBC | $31.60 | +9.0% | +46.3% |
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: Ansell (ASX: ANN), ANZ Group (ASX: ANZ), Commonwealth Bank of Australia (ASX: CBA), Coles Group (ASX: COL), Droneshield (ASX: DRO), BetaShares Australian Sustainability Leaders ETF (ASX: FAIR), Fisher & Paykel Healthcare Corporation (ASX: FPH), Healius (ASX: HLS), HMC Capital (ASX: HMC), Humm Group (ASX: HUM), JB HI-FI (ASX: JBH), Kina Securities (ASX: KSL), Vaneck Australian Property ETF (ASX: MVA), Vaneck Australian Banks ETF (ASX: MVB), National Australia Bank (ASX: NAB), Qantas Airways (ASX: QAN), Rimfire Pacific Mining (ASX: RIM), Reliance Worldwide Corporation (ASX: RWC), Supply Network (ASX: SNL), Westpac Banking Corporation (ASX: WBC).
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
APA Group | APA | $7.53 | -4.7% | -15.4% |
Bapcor | BAP | $4.89 | -2.0% | -26.0% |
Bellevue Gold | BGL | $1.150 | -17.9% | -28.3% |
Boss Energy | BOE | $2.73 | -14.2% | -19.0% |
Beach Energy | BPT | $1.220 | -17.0% | -21.8% |
Brainchip | BRN | $0.165 | -8.3% | -43.1% |
Chalice Mining | CHN | $1.035 | -6.8% | -79.5% |
Coronado Global Resources | CRN | $1.140 | -17.4% | -27.8% |
Core Lithium | CXO | $0.092 | -3.2% | -77.0% |
Dicker Data | DDR | $9.23 | -8.1% | +3.9% |
Fletcher Building | FBU | $2.69 | -5.3% | -39.6% |
Fortescue | FMG | $18.18 | -3.0% | -15.1% |
Inghams Group | ING | $3.09 | -16.0% | -11.5% |
Johns Lyng Group | JLG | $3.65 | -37.0% | -42.4% |
Arcadium Lithium | LTM | $3.89 | -13.0% | 0% |
Liontown Resources | LTR | $0.710 | -23.2% | -74.2% |
Macquarie Technology Group | MAQ | $79.30 | -14.2% | +22.9% |
Meteoric Resources | MEI | $0.099 | -10.0% | -46.5% |
Mineral Resources | MIN | $39.51 | -25.2% | -44.1% |
Megaport | MP1 | $8.27 | -24.9% | -30.0% |
Neuren Pharmaceuticals | NEU | $14.47 | -25.0% | +17.0% |
Nufarm | NUF | $3.91 | -15.4% | -24.8% |
Novonix | NVX | $0.595 | -13.1% | -42.2% |
Paladin Energy | PDN | $9.60 | -7.7% | +15.0% |
Pilbara Minerals | PLS | $2.84 | -0.7% | -38.8% |
Patriot Battery Metals | PMT | $0.440 | -12.0% | -65.6% |
Platinum Asset Management | PTM | $0.965 | -7.7% | -36.5% |
Ramsay Health Care | RHC | $40.39 | -10.9% | -22.7% |
Silex Systems | SLX | $3.86 | -12.7% | +21.8% |
Spark New Zealand | SPK | $3.33 | -17.6% | -27.8% |
Sayona Mining | SYA | $0.026 | -13.3% | -79.2% |
Syrah Resources | SYR | $0.220 | -12.0% | -58.8% |
Tabcorp | TAH | $0.415 | -33.6% | -62.3% |
Weebit Nano | WBT | $2.04 | -8.5% | -49.4% |
Wildcat Resources | WC8 | $0.265 | +8.2% | -14.5% |
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: APA Group (ASX: APA), Bellevue Gold (ASX: BGL), Boss Energy (ASX: BOE), Beach Energy (ASX: BPT), Coronado Global Resources (ASX: CRN), Johns Lyng Group (ASX: JLG), Liontown Resources (ASX: LTR), Mineral Resources (ASX: MIN), Megaport (ASX: MP1), Neuren Pharmaceuticals (ASX: NEU), Platinum Asset Management (ASX: PTM), Ramsay Health Care (ASX: RHC), Tabcorp (ASX: TAH), Weebit Nano (ASX: WBT), Wildcat Resources (ASX: WC8).
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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