Why Lynas, Iluka Resources and rare earth stocks are soaring on Friday
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/ChartWatch ASX Scans: Commonwealth Bank, Pro Medicus, BetaShares India ETF, Deterra Royalties, Ebos, IGO
Technical Analysis
ChartWatch ASX Scans: Commonwealth Bank, Pro Medicus, BetaShares India ETF, Deterra Royalties, Ebos, IGO
Wed 12 Jun 24, 10:36am (AEST)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scan Lists include: Commonwealth Bank (CBA), BetaShares Global Healthcare ETF (DRUG), BetaShares India ETF (IIND), Medadvisor (MDR), Nextdc (NXT), Pro Medicus (PME), and BetaShares S&P 500 Yield Maximiser ETF (UMAX)
- Interesting downtrends in today's Scan Lists include: Atlas Arteria (ALX), Bluescope (BSL), Deterra Royalties (DRR), Ebos (EBO), IGO (IGO), James Hardie Industries (JHX), Kelsian Group (KLS), Lendlease Group (LLC), and Woodside Energy Group (WDS)
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 % |
|---|---|---|---|---|
Catapult Group International | CAT | $1.830 | +22.0% | +92.6% |
Commonwealth Bank of Australia | CBA | $124.93 | +6.3% | +30.6% |
Coles Group | COL | $16.91 | +4.1% | -4.4% |
CSL | CSL | $286.30 | +2.6% | -7.3% |
BetaShares Global Healthcare Hedged ETF | DRUG | $8.85 | +3.3% | +14.0% |
Forrestania Resources | FRS | $0.054 | +157.1% | -28.9% |
GQG Partners Inc. | GQG | $2.65 | +8.6% | +84.7% |
BetaShares India Quality ETF. ETF | IIND | $12.29 | +5.5% | +17.5% |
Loftus Peak Global Disruption Fund ETF | LPGD | $4.59 | +5.0% | +44.3% |
L1 Long Short Fund | LSF | $3.19 | +5.6% | +12.7% |
Medadvisor | MDR | $0.450 | +36.4% | +104.5% |
Metro Mining | MMI | $0.048 | +17.1% | +140.0% |
Nextdc | NXT | $17.92 | +2.3% | +44.3% |
Pharmaust | PAA | $0.240 | +41.2% | +189.2% |
Pro Medicus | PME | $128.06 | +11.2% | +101.7% |
Race Oncology | RAC | $1.900 | +34.8% | +33.8% |
Regal Partners | RPL | $3.66 | +28.4% | +30.7% |
BetaShares S&P 500 Yield Maximiser Fund ETF | UMAX | $23.60 | +1.6% | +11.4% |
Vanguard US Total Market Shares Index ETF | VTS | $399.49 | +2.3% | +25.2% |
Wisetech Global | WTC | $99.60 | +3.0% | +30.2% |
Today's Uptrends Scan List
Interesting charts from today's Uptrends List 🔎📈
The stocks that I feel are showing the strongest excess demand from today's Uptrends List are: Commonwealth Bank of Australia (ASX: CBA), BetaShares Global Healthcare Hedged ETF (ASX: DRUG), BetaShares India Quality ETF (ASX: IIND), Medadvisor (ASX: MDR), Nextdc (ASX: NXT), Pro Medicus (ASX: PME), Regal Partners (ASX: RPL), BetaShares S&P 500 Yield Maximiser Fund ETF (ASX: UMAX).
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Auckland International Airport | AIA | $6.95 | -1.6% | -10.9% |
Ampol | ALD | $33.59 | -7.1% | +10.9% |
Atlas Arteria | ALX | $5.06 | -8.7% | -19.2% |
Boss Energy | BOE | $4.26 | -26.3% | +37.9% |
Bluescope Steel | BSL | $20.42 | -7.5% | +2.6% |
Centuria Industrial Reit | CIP | $3.11 | -3.4% | -1.0% |
Charter Hall Long Wale Reit | CLW | $3.42 | -2.8% | -20.3% |
Centuria Office Reit | COF | $1.170 | -1.3% | -18.2% |
Charter Hall Social Infrastructure Reit | CQE | $2.43 | -4.0% | -18.5% |
Charter Hall Retail Reit | CQR | $3.25 | -2.7% | -13.1% |
De Grey Mining | DEG | $1.060 | -13.8% | -23.4% |
Deterra Royalties | DRR | $4.48 | -9.1% | +0.9% |
Dexus | DXS | $6.71 | -5.9% | -19.5% |
Ebos Group | EBO | $30.58 | -3.0% | -20.7% |
EVT | EVT | $11.57 | -2.5% | -4.5% |
Fortescue | FMG | $23.60 | -10.0% | +17.1% |
Grange Resources | GRR | $0.345 | -16.9% | -34.3% |
Healthco Healthcare and Wellness Reit | HCW | $1.125 | -5.1% | -20.2% |
Homeco Daily Needs Reit | HDN | $1.195 | -4.8% | -0.8% |
Insignia Financial | IFL | $2.19 | -8.0% | -22.9% |
IGO | IGO | $6.54 | -17.4% | -53.9% |
Iluka Resources | ILU | $6.92 | -9.9% | -40.1% |
James Hardie Industries | JHX | $46.00 | -17.3% | +18.9% |
Karoon Energy | KAR | $1.690 | -14.2% | -15.5% |
Kelsian Group | KLS | $5.06 | -10.1% | -27.4% |
Lifestyle Communities | LIC | $12.25 | -9.9% | -16.4% |
Lendlease Group | LLC | $5.56 | -11.5% | -24.9% |
Liontown Resources | LTR | $1.085 | -22.5% | -60.3% |
MA Financial Group | MAF | $4.54 | -1.5% | -9.9% |
Mirvac Group | MGR | $1.890 | -9.6% | -18.9% |
Nine Entertainment Co. Holdings | NEC | $1.380 | -8.9% | -29.4% |
Novonix | NVX | $0.665 | -19.9% | -31.4% |
Orora | ORA | $2.07 | -7.2% | -33.3% |
Pilbara Minerals | PLS | $3.51 | -15.2% | -24.4% |
Perpetual | PPT | $21.77 | -1.7% | -12.0% |
Ridley Corporation | RIC | $2.05 | -5.5% | +9.9% |
Regis Resources | RRL | $1.765 | -16.4% | -15.6% |
Siteminder | SDR | $4.80 | -11.6% | +53.4% |
Sims | SGM | $10.53 | -3.0% | -29.8% |
Spark New Zealand | SPK | $3.75 | -5.5% | -20.0% |
Sayona Mining | SYA | $0.037 | -15.9% | -79.4% |
Tabcorp Holdings | TAH | $0.595 | -16.2% | -48.0% |
Talga Group | TLG | $0.555 | -17.8% | -56.3% |
Tyro Payments | TYR | $0.785 | -13.3% | -27.3% |
Vicinity Centres | VCX | $1.895 | -1.3% | +0.8% |
Woodside Energy Group | WDS | $27.09 | -5.4% | -21.3% |
Waypoint Reit | WPR | $2.33 | -3.3% | -14.0% |
Today's Downtrends Scan List
Interesting charts from today's Downtrends List 🔎📉
The stocks that I feel are showing the strongest excess supply from today's Downtrends List are: Ampol (ASX: ALD), Atlas Arteria (ASX: ALX), Bluescope Steel (ASX: BSL), Deterra Royalties (ASX: DRR), Ebos Group (ASX: EBO), IGO (ASX: IGO), James Hardie Industries (ASX: JHX), Kelsian Group (ASX: KLS), Lendlease Group (ASX: LLC), Mirvac Group (ASX: MGR), Nine Entertainment Co. Holdings (ASX: NEC), Orora (ASX: ORA), Woodside Energy Group (ASX: WDS).
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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