Could the US-Iran escalation sink the ASX 200? History says no
Mon 23 Jun 25, 4:19pm (AEST)
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/ChartWatch ASX Scans: Commonwealth Bank, Lovisa, Qantas, Newmont, Lifestyle Communities, Meteoric Resources, Vulcan Steel
Technical Analysis
ChartWatch ASX Scans: Commonwealth Bank, Lovisa, Qantas, Newmont, Lifestyle Communities, Meteoric Resources, Vulcan Steel
Thu 01 Aug 24, 9:00am (AEST)
Source: Shutterstock
Stocks in article
Key Points
- Interesting downtrends in today's Scans: Lifestyle Communities (LIC), Meteoric Resources (MEI), Vulcan Steel (VSL)
- Interesting uptrends in today's Scans: Commonwealth Bank (CBA), Credit Corp (CCP), Codan (CDA), Coles (COL), Data#3 (DTL), Hub24 (HUB), Harvey Norman (HVN), JB HI-FI (JBH), Lovisa (LOV), Macquarie (MQG), Newmont Corporation (NEM), Technology One (TNE)
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 % |
|---|---|---|---|---|
Adairs | ADH | $2.19 | +15.3% | +30.0% |
Aristocrat Leisure | ALL | $54.22 | +9.3% | +38.6% |
ALS | ALQ | $15.44 | +9.9% | +33.3% |
Amcor | AMC | $16.19 | +11.9% | +6.1% |
AMP | AMP | $1.185 | +9.2% | +6.3% |
Austin Engineering | ANG | $0.660 | +12.8% | +144.4% |
ARB Corporation | ARB | $42.09 | +11.2% | +34.7% |
Argo Investments | ARG | $8.99 | +4.4% | +1.7% |
Austal | ASB | $2.62 | +4.4% | +18.0% |
Abacus Storage King | ASK | $1.275 | +12.8% | 0% |
BetaShares S&P/ASX Australian Technology ETF | ATEC | $24.67 | +3.5% | +23.4% |
AUB Group | AUB | $32.28 | +3.1% | +11.8% |
Black Cat Syndicate | BC8 | $0.365 | +17.7% | -12.0% |
Bendigo and Adelaide Bank | BEN | $12.49 | +10.4% | +33.9% |
Bisalloy Steel Group | BIS | $4.89 | +15.9% | +154.5% |
Brickworks | BKW | $28.82 | +9.5% | +10.8% |
Bank of Queensland | BOQ | $6.31 | +6.4% | +4.6% |
Botanix Pharmaceuticals | BOT | $0.380 | +16.9% | +181.5% |
Breville Group | BRG | $29.32 | +9.0% | +29.0% |
Brambles | BXB | $15.56 | +9.9% | +11.2% |
Commonwealth Bank of Australia | CBA | $137.49 | +9.4% | +30.3% |
Credit Corp Group | CCP | $17.42 | +19.6% | -24.8% |
Codan | CDA | $13.12 | +10.0% | +73.8% |
Capricorn Metals | CMM | $5.38 | +12.3% | +21.4% |
Cooper Energy | COE | $0.230 | +2.2% | +58.6% |
Coles Group | COL | $18.10 | +6.9% | -1.4% |
BetaShares Australian Investment Grade Corporate Bond ETF | CRED | $23.07 | +2.9% | +5.0% |
Coronado Global Resources | CRN | $1.440 | +7.5% | -13.5% |
Clarity Pharmaceuticals | CU6 | $6.37 | +26.6% | +630.3% |
Dalrymple Bay Infrastructure/Notes | DBI | $3.04 | 0% | +9.7% |
Downer EDI | DOW | $4.99 | +7.1% | +14.5% |
Dusk Group | DSK | $0.915 | +51.2% | -27.4% |
Data#3 | DTL | $8.82 | +6.8% | +17.9% |
DUG Technology | DUG | $2.78 | +6.5% | +73.8% |
Duratec | DUR | $1.295 | +6.1% | +9.7% |
Endeavour Group | EDV | $5.49 | +13.2% | -10.0% |
Emeco | EHL | $0.845 | +15.0% | +18.2% |
Elders | ELD | $9.52 | +16.2% | +32.6% |
EQT | EQT | $35.50 | +10.9% | +35.6% |
Flight Centre Travel Group | FLT | $22.21 | +11.1% | -4.3% |
Fisher & Paykel Healthcare Corporation | FPH | $29.50 | +8.3% | +30.9% |
Vaneck Gold Miners ETF | GDX | $57.26 | +12.8% | +25.3% |
Graincorp | GNC | $9.03 | +2.8% | +15.5% |
Genusplus Group | GNP | $2.28 | +13.4% | +98.3% |
Global X Physical Gold Global X Physical Gold | GOLD | $34.37 | +6.2% | +26.7% |
GPT Group | GPT | $4.63 | +16.3% | +6.9% |
GWA Group | GWA | $2.65 | +11.3% | +34.9% |
Hearts and Minds Investments | HM1 | $2.73 | +4.6% | +14.2% |
Hub24 | HUB | $49.56 | +7.1% | +78.9% |
Harvey Norman | HVN | $4.79 | +14.6% | +27.1% |
BetaShares Australian Dividend Harvester Fund ETF | HVST | $13.42 | +4.8% | +6.0% |
Insurance Australia Group | IAG | $7.40 | +3.8% | +24.2% |
Insignia Financial | IFL | $2.77 | +23.7% | -7.0% |
BetaShares India Quality ETF | IIND | $12.62 | +4.9% | +22.8% |
iShares MSCI Japan ETF | IJP | $108.67 | +5.2% | +13.9% |
Intelligent Monitoring Group | IMB | $0.645 | +44.9% | +269.5% |
Iress | IRE | $10.63 | +36.3% | +3.3% |
JB HI-FI | JBH | $69.65 | +13.7% | +52.7% |
Kelly Partners Group | KPG | $8.48 | +7.8% | +78.5% |
Kina Securities | KSL | $1.030 | +10.8% | +28.0% |
Light & Wonder | LNW | $164.86 | +7.3% | +58.0% |
Lovisa | LOV | $34.94 | +13.7% | +66.3% |
Magellan Financial Group | MFG | $10.22 | +20.2% | +15.2% |
Medibank Private | MPL | $3.98 | +8.4% | +12.7% |
Macquarie Group | MQG | $209.80 | +3.2% | +18.7% |
Vaneck Australian Banks ETF | MVB | $37.15 | +6.4% | +24.8% |
Myer | MYR | $0.830 | +4.4% | +27.7% |
Mystate | MYS | $3.96 | +6.2% | +11.2% |
National Australia Bank | NAB | $38.58 | +8.1% | +35.9% |
Nick Scali | NCK | $15.69 | +18.1% | +51.0% |
Newmont Corporation | NEM | $73.65 | +18.2% | 0% |
Netwealth Group | NWL | $23.70 | +9.2% | +57.5% |
News Corporation | NWS | $44.37 | +4.4% | +51.2% |
Nuix | NXL | $3.45 | +12.7% | +128.5% |
Ora Banda Mining | OBM | $0.440 | +31.3% | +266.7% |
OFX Group | OFX | $2.31 | +5.5% | +9.5% |
Paragon Care | PGC | $0.450 | +1.1% | +87.5% |
Platinum Capital | PMC | $1.475 | +4.6% | +12.6% |
Pro Medicus | PME | $143.76 | +5.6% | +107.5% |
Premier Investments | PMV | $33.14 | +10.6% | +49.4% |
Pinnacle Investment Management Group | PNI | $16.40 | +16.9% | +56.3% |
Polynovo | PNV | $2.68 | +13.6% | +69.6% |
Qantas Airways | QAN | $6.46 | +9.5% | -1.8% |
QBE Insurance Group | QBE | $18.08 | +6.4% | +14.0% |
Qube | QUB | $3.82 | +4.7% | +29.9% |
REA Group | REA | $204.62 | +6.2% | +30.8% |
Reece | REH | $27.64 | +13.4% | +41.3% |
Resolute Mining | RSG | $0.650 | +18.2% | +71.1% |
Reliance Worldwide Corporation | RWC | $5.15 | +17.3% | +24.1% |
Scentre Group | SCG | $3.47 | +10.9% | +23.5% |
Steadfast Group | SDF | $6.49 | +5.2% | +10.4% |
The Star Entertainment Group | SGR | $0.580 | +22.1% | -40.0% |
Spartan Resources | SPR | $1.275 | +38.6% | +457.9% |
SRG Global | SRG | $0.940 | +16.0% | +26.2% |
Service Stream | SSM | $1.400 | +10.7% | +56.4% |
Super Retail Group | SUL | $15.97 | +17.9% | +32.6% |
Suncorp Group | SUN | $17.81 | +4.3% | +24.7% |
Seven Group | SVW | $39.18 | +7.7% | +50.7% |
Telstra Group | TLS | $3.94 | +9.1% | -7.9% |
Technology One | TNE | $20.58 | +12.4% | +29.4% |
Ventia Services Group | VNT | $4.39 | +12.3% | +51.4% |
Vulcan Energy Resources | VUL | $4.57 | +17.8% | +4.1% |
Westpac Banking Corporation | WBC | $29.80 | +9.9% | +34.5% |
Wesfarmers | WES | $73.65 | +14.3% | +48.5% |
Zip Co. | ZIP | $1.910 | +33.1% | +319.8% |
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: ALS (ASX: ALQ), Amcor (ASX: AMC), ARB Corporation (ASX: ARB), Bendigo and Adelaide Bank (ASX: BEN), Commonwealth Bank of Australia (ASX: CBA), Credit Corp Group (ASX: CCP), Codan (ASX: CDA), Coles Group (ASX: COL), Data#3 (ASX: DTL), Endeavour Group (ASX: EDV), EQT (ASX: EQT), Graincorp (ASX: GNC), Genusplus Group (ASX: GNP), Hub24 (ASX: HUB), Harvey Norman (ASX: HVN), Insurance Australia Group (ASX: IAG), Ingenia Communities Group (ASX: INA), JB HI-FI (ASX: JBH), Lovisa (ASX: LOV), Macquarie Group (ASX: MQG), Vaneck Australian Banks ETF (ASX: MVB), National Australia Bank (ASX: NAB), Nick Scali (ASX: NCK), Newmont Corporation (ASX: NEM), Netwealth Group (ASX: NWL), News Corporation (ASX: NWS), Pro Medicus (ASX: PME), Qantas Airways (ASX: QAN), Reliance Worldwide Corporation (ASX: RWC), Scentre Group (ASX: SCG), Steadfast Group (ASX: SDF), Service Stream (ASX: SSM), Super Retail Group (ASX: SUL), Suncorp Group (ASX: SUN), Technology One (ASX: TNE), Ventia Services Group (ASX: VNT), Westpac Banking Corporation (ASX: WBC), Wesfarmers (ASX: WES), Zip Co. (ASX: ZIP).
Charts of each below:
***NOTE: 39 Feature Charts today!***
Really, there could have been even more, but I tried to be as ruthless as possible in promoting candidates. There's too many to upload them all (I'd be here until it's time to start tomorrow's list!), but I encourage you to view each of them, as there are some incredible showings of total demand-side control.
I won't try to pick a smaller selection for display, as it would be like choosing my favourite child! So, I asked ChatGPT to randomly pick 20 for you to view below...Enjoy!
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Lifestyle Communities | LIC | $9.00 | -27.7% | -47.4% |
Meteoric Resources | MEI | $0.100 | -35.5% | -57.4% |
Tabcorp | TAH | $0.645 | -8.5% | -39.2% |
Terracom | TER | $0.195 | -15.2% | -53.6% |
Talga Group | TLG | $0.430 | -27.7% | -67.9% |
Vulcan Steel | VSL | $6.25 | -3.5% | -19.7% |
Weebit Nano | WBT | $2.35 | -3.7% | -62.0% |
Today's Downtrends Scan List
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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