Technical Analysis

ChartWatch ASX Scans: Commonwealth Bank, Pro Medicus, BetaShares India ETF, Deterra Royalties, Ebos, IGO

Wed 12 Jun 24, 10:36am (AEST)
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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 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), 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:

Commonwealth Bank of Australia (ASX-CBA) chart 11 June 2024BetaShares Global Healthcare Hedged ETF (ASX-DRUG) chart 11 June 2024BetaShares India Quality ETF. ETF (ASX-IIND) chart 11 June 2024Medadvisor (ASX-MDR) chart 11 June 2024Nextdc (ASX-NXT) chart 11 June 2024Pro Medicus (ASX-PME) chart 11 June 2024Regal Partners (ASX-RPL) chart 11 June 2024BetaShares S&P 500 Yield Maximiser Fund ETF (ASX-UMAX) chart 11 June 2024

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 πŸ”ŽπŸ“‰

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:

Ampol (ASX-ALD) chart 11 June 2024Atlas Arteria (ASX-ALX) chart 11 June 2024Bluescope Steel (ASX-BSL) chart 11 June 2024Deterra Royalties (ASX-DRR) chart 11 June 2024Ebos Group (ASX-EBO) chart 11 June 2024IGO (ASX-IGO) chart 11 June 2024James Hardie Industries (ASX-JHX) chart 11 June 2024Kelsian Group (ASX-KLS) chart 11 June 2024Lendlease Group (ASX-LLC) chart 11 June 2024Mirvac Group (ASX-MGR) chart 11 June 2024Nine Entertainment Co. Holdings (ASX-NEC) chart 11 June 2024Orora (ASX-ORA) chart 11 June 2024Woodside Energy Group (ASX-WDS) chart 11 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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