Technical Analysis

ChartWatch ASX Scans: Commonwealth Bank, Fisher & Paykel Healthcare, Graincorp, James Hardie, Karoon Energy, and Tyro Payments

Wed 05 Jun 24, 9:00am (AEST)
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Key Points

  • Interesting uptrends in today's Scan Lists include: Commonwealth Bank (CBA), Vaneck Video Gaming and Esports ETF (ESPO), Fisher & Paykel Healthcare (FPH), Graincorp (GNC), L1 Long Short Fund (LSF), Regal Partners (RPL), and Summit Minerals (SUM)
  • Interesting downtrends in today's Scan Lists include: James Hardie (JHX), Karoon Energy (KAR), Kogan (KGN), McMillan Shakespeare (MMS), Perpetual (PPT), Siteminder (SDR), Tyro Payments (TYR), Weebit Nano (WBT), Wildcat Resources (WC8), and Worley (WOR)

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 %

Commonwealth Bank of Australia.

CBA

$122.46

+5.0%

+26.5%

Droneshield

DRO

$1.280

+46.3%

+374.1%

Vaneck Video Gaming and Esports ETF

ESPO

$12.68

+6.6%

+24.6%

Fisher & Paykel Healthcare Corporation

FPH

$27.92

+7.0%

+24.9%

Graincorp

GNC

$8.87

+9.4%

+18.6%

L1 Long Short Fund

LSF

$3.20

+7.0%

+14.7%

Munro Global Growth Fund ETF

MAET

$6.18

+4.6%

+33.2%

Macmahon Holdings

MAH

$0.290

+18.4%

+132.0%

Macquarie Technology Group

MAQ

$87.44

+2.3%

+43.8%

Metro Mining

MMI

$0.049

+19.5%

+145.0%

Paragon Care

PGC

$0.390

+23.8%

+56.0%

Platinum Capital

PMC

$1.430

+3.6%

+12.2%

Regal Partners

RPL

$3.38

+19.4%

+21.1%

Step One Clothing

STP

$1.480

+6.9%

+377.4%

Summit Minerals

SUM

$0.255

+75.9%

+104.0%

Sovereign Metals

SVM

$0.660

+29.4%

+59.0%

VGI Partners Global Investments

VG1

$1.920

+7.9%

+19.3%

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: Commonwealth Bank of Australia. (ASX: CBA), Vaneck Video Gaming and Esports ETF (ASX: ESPO), Fisher & Paykel Healthcare Corporation (ASX: FPH), Graincorp (ASX: GNC), L1 Long Short Fund (ASX: LSF), Regal Partners (ASX: RPL), Summit Minerals (ASX: SUM).

Charts of each below:

Commonwealth Bank of Australia. (ASX-CBA) chart 4 June 2024Fisher & Paykel Healthcare Corporation (ASX-FPH) chart 4 June 2024Graincorp (ASX-GNC) chart 4 June 2024L1 Long Short Fund (ASX-LSF) chart 4 June 2024Regal Partners (ASX-RPL) chart 4 June 2024Summit Minerals (ASX-SUM) chart 4 June 2024Vaneck Video Gaming and Esports ETF (ASX-ESPO) chart 4 June 2024

Downtrends Scan List

Company

Code

Last Price

1mo %

1yr %

Abacus Group

ABG

$1.120

-3.4%

-8.0%

Adairs

ADH

$1.675

-20.2%

-11.1%

Ampol

ALD

$34.51

-3.0%

+9.7%

AMP

AMP

$1.070

-2.3%

-4.0%

Eagers Automotive

APE

$10.07

-17.6%

-18.5%

ASX

ASX

$62.89

-2.2%

-7.4%

Brickworks

BKW

$26.07

-3.4%

+2.2%

Brainchip Holdings

BRN

$0.245

-9.3%

-44.9%

Brambles

BXB

$14.20

-1.3%

+3.4%

Credit Corp Group

CCP

$13.85

-11.1%

-18.3%

Champion Iron

CIA

$6.75

-3.4%

+18.8%

Centuria Industrial Reit

CIP

$3.15

-2.2%

-0.6%

Collins Foods

CKF

$9.14

-0.8%

+9.3%

Charter Hall Long Wale Reit

CLW

$3.47

+1.5%

-19.5%

Centuria Office Reit

COF

$1.190

+2.1%

-16.2%

Charter Hall Social Infrastructure Reit

CQE

$2.42

-3.6%

-17.7%

Charter Hall Retail Reit

CQR

$3.29

-1.2%

-12.0%

Corporate Travel Management

CTD

$13.13

-12.4%

-36.6%

Clinuvel Pharmaceuticals

CUV

$14.60

-2.7%

-19.5%

Dicker Data

DDR

$9.13

-12.8%

+8.7%

Domain Holdings Australia

DHG

$2.88

-7.4%

-17.9%

Dexus

DXS

$6.78

-3.7%

-16.2%

GPT Group

GPT

$4.22

+1.4%

+1.2%

GWA Group

GWA

$2.26

-11.4%

+27.7%

IDP Education

IEL

$15.69

-2.6%

-23.3%

Imugene

IMU

$0.060

-22.1%

-42.9%

James Hardie Industries

JHX

$46.32

-15.0%

+22.1%

Karoon Energy

KAR

$1.715

-9.7%

-13.0%

Kogan.Com

KGN

$4.29

-8.9%

-0.9%

McMillan Shakespeare

MMS

$16.10

-13.0%

+3.7%

Mayne Pharma Group

MYX

$4.90

-32.6%

+30.0%

Nine Entertainment Co. Holdings

NEC

$1.420

-2.7%

-25.5%

Novonix

NVX

$0.710

-13.4%

-23.7%

OOH!Media

OML

$1.390

-16.3%

+13.0%

Pilbara Minerals

PLS

$3.75

-10.5%

-13.6%

Perpetual

PPT

$21.59

-9.1%

-11.8%

Platinum Asset Management

PTM

$1.010

-3.8%

-41.3%

Ridley Corporation

RIC

$2.08

-5.0%

+8.3%

Siteminder

SDR

$4.82

-13.9%

+55.5%

Smartgroup Corporation

SIQ

$7.98

-10.0%

+9.4%

Tyro Payments

TYR

$0.775

-15.8%

-30.8%

Weebit Nano

WBT

$2.24

-24.6%

-66.8%

Wildcat Resources

WC8

$0.405

-17.3%

+447.3%

Woodside Energy Group

WDS

$27.43

+0.4%

-19.7%

Worley

WOR

$14.57

-4.8%

-10.6%

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: Eagers Automotive (ASX: APE), Credit Corp Group (ASX: CCP), James Hardie Industries (ASX: JHX), Karoon Energy (ASX: KAR), Kogan.Com (ASX: KGN), McMillan Shakespeare (ASX: MMS), Mayne Pharma Group (ASX: MYX), Perpetual (ASX: PPT), Siteminder (ASX: SDR), Smartgroup Corporation (ASX: SIQ), Tyro Payments (ASX: TYR), Weebit Nano (ASX: WBT), Wildcat Resources (ASX: WC8), Worley (ASX: WOR).

Charts of each below:

Eagers Automotive (ASX-APE) chart 4 June 2024Credit Corp Group (ASX-CCP) chart 4 June 2024James Hardie Industries (ASX-JHX) chart 4 June 2024Karoon Energy (ASX-KAR) chart 4 June 2024Kogan.Com (ASX-KGN) chart 4 June 2024McMillan Shakespeare (ASX-MMS) chart 4 June 2024Mayne Pharma Group (ASX-MYX) chart 4 June 2024Perpetual (ASX-PPT) chart 4 June 2024Siteminder (ASX-SDR) chart 4 June 2024Smartgroup Corporation (ASX-SIQ) chart 4 June 2024Tyro Payments (ASX-TYR) chart 4 June 2024Weebit Nano (ASX-WBT) chart 4 June 2024Wildcat Resources (ASX-WC8) chart 4 June 2024Worley (ASX-WOR) chart 4 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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