ChartWatch ASX Scans: Could Fortescue, BHP, South32, Mineral Resources, Pilbara Minerals and Iluka be the perfect shorts?
Your daily dose of the most interesting uptrends and downtrends on the ASX with technical analysis from an expert.
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Mentioned
KEY POINTS
- Interesting uptrends in today's Scans: Ausgold (AUC), Antipa Minerals (AZY), Commonwealth Bank (CBA), Elsight (ELS), Fleetwood (FWD), Generation Development (GDG), Genesis Minerals (GMD), Medallion Metals (MM8), Washington H Soul Pattinson (SOL).
- Interesting downtrends in today's Scans: Alcoa (AAI), Collins Foods (CKF), Clinuvel Pharmaceuticals (CUV), Domino's Pizza (DMP), Fortescue (FMG), IDP Education (IEL), IGO (IGO), Iluka Resources (ILU), Mineral Resources (MIN), Pilbara Minerals (PLS).
Fortescue (FMG), BHP Group (BHP), South32 (S32), Mineral Resources (MIN), Pilbara Minerals (PLS) and Iluka Resources (ILU). These are some of the biggest names in ASX resources.
But could they each also be the biggest short opportunities on the ASX? 🤔
That's one potential conclusion you could draw from today's edition of ChartWatch ASX Scans! Each of these blue-chip mining stalwarts (plus several more like Alcoa (AAI), Coronado Global Resources (CRN), IGO (IGO), Liontown Resources (LTR), and New Hope Corporation (NHC)) have appeared in today's Downtrends Scan List. Most of them even made Feature Downtrend.
For those who aren't familiar with the concept of short selling, there's a really good case study in this article. The short of it (pun intended!), is "sell first at a higher price and buy back later at a lower price". The difference is your profit, but if the stock goes up, the difference is your loss.
It's important to note that not a single one of the mining stocks that made the Downtrends Scan List did so for the first time, on the contrary it – many like CRN, IGO, ILU, LTR, MIN, and PLS are serial offenders – hoarding many dozens of Feature Downtrend nominations among them over the last 12 months.
If you have chosen to faithfully own these stocks over this period, imagine how much you could have made by instead shorting them? Markets / stocks go up and down...is your current approach equipped to fully deal with this? 🤔
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.
Feel free to get your favourite AI to convert the tables below into lists you can upload to your favourite trading platform like TradingView. Then you'll be able to skip from chart to chart and quickly and easily see the best uptrends and downtrends on the ASX.
Some investors prefer to buy those stocks in strong uptrends, and avoid, sell, or short sell those stocks in strong downtrends – but how you use the lists is really up to you!
Note, many stocks in both lists have appeared there many times before. As long as they keep meeting my criteria – they'll keep appearing. But note, there won't be any notifications when they don't, so you'll have to do your own research on when a particular trend changes!
Uptrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Astral Resources | AAR | $0.180 | +20.0% | +102.2% |
Australian Ethical Investment | AEF | $6.00 | +13.2% | +31.6% |
Almonty Industries | AII | $2.99 | +12.8% | +398.3% |
AUB Group | AUB | $35.35 | +10.8% | +22.0% |
Ausgold | AUC | $0.690 | +31.4% | +86.5% |
Antipa Minerals | AZY | $0.660 | +34.7% | +371.4% |
Brickworks | BKW | $35.10 | +35.9% | +35.4% |
Beacon Lighting Group | BLX | $3.58 | +10.2% | +45.5% |
Commonwealth Bank of Australia | CBA | $176.42 | +4.0% | +49.1% |
Cash Converters International | CCV | $0.285 | +16.3% | +35.7% |
Elsight | ELS | $0.880 | +83.3% | +131.6% |
Evolution Mining | EVN | $9.12 | +14.7% | +131.5% |
Fisher & Paykel Healthcare Corporation | FPH | $34.84 | +6.7% | +32.0% |
Fleetwood | FWD | $2.99 | +6.4% | +118.2% |
Generation Development Group | GDG | $5.79 | +39.5% | +168.0% |
Vaneck Gold Miners ETF | GDX | $80.00 | +6.0% | +45.9% |
Genesis Minerals | GMD | $4.76 | +22.4% | +149.2% |
Medallion Metals | MM8 | $0.305 | +35.6% | +425.9% |
BetaShares Global Gold Miners Hedged ETF | MNRS | $8.77 | +5.3% | +39.7% |
Medibank Private | MPL | $4.87 | +3.4% | +33.8% |
Ora Banda Mining | OBM | $1.190 | +15.5% | +255.2% |
Regis Resources | RRL | $5.20 | +16.6% | +170.8% |
St Barbara | SBM | $0.345 | +11.3% | +46.8% |
Washington H Soul Pattinson & Company | SOL | $43.00 | +15.2% | +36.3% |
Spartan Resources | SPR | $2.30 | +9.5% | +219.4% |
SRG Global | SRG | $1.530 | +17.7% | +71.9% |
Saturn Metals | STN | $0.330 | +11.9% | +20.0% |
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: Ausgold (ASX: AUC), Antipa Minerals (ASX: AZY), Brickworks (ASX: BKW), Commonwealth Bank of Australia (ASX: CBA), Elsight (ASX: ELS), Fleetwood (ASX: FWD), Generation Development Group (ASX: GDG), Genesis Minerals (ASX: GMD), Medallion Metals (ASX: MM8), Washington H Soul Pattinson & Company (ASX: SOL).
Charts of each below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Alcoa Corporation | AAI | $41.07 | +6.2% | 0% |
Australian Clinical Labs | ACL | $2.82 | -10.2% | +28.2% |
Auckland International Airport | AIA | $6.96 | -2.4% | -2.2% |
Appen | APX | $1.095 | +42.2% | +85.6% |
Accent Group | AX1 | $1.850 | -1.9% | +0.8% |
BHP Group | BHP | $37.78 | -0.8% | -16.2% |
Botanix Pharmaceuticals | BOT | $0.340 | -25.3% | +13.3% |
Collins Foods | CKF | $7.67 | -7.5% | -15.2% |
Coronado Global Resources | CRN | $0.105 | -40.0% | -90.6% |
Cettire | CTT | $0.380 | -17.4% | -83.4% |
Clarity Pharmaceuticals | CU6 | $1.895 | -27.1% | -58.8% |
Clinuvel Pharmaceuticals | CUV | $10.26 | -11.5% | -33.0% |
Core Lithium | CXO | $0.080 | +12.7% | -42.9% |
Dicker Data | DDR | $8.11 | -5.0% | -10.0% |
Domino's Pizza Enterprises | DMP | $22.25 | -12.5% | -40.1% |
EBR Systems | EBR | $1.085 | -7.7% | +6.7% |
Elders | ELD | $6.21 | -2.7% | -23.4% |
Fortescue | FMG | $15.00 | -8.3% | -41.3% |
G8 Education | GEM | $1.205 | -5.5% | +1.3% |
HMC Capital | HMC | $4.85 | -7.8% | -31.8% |
Horizon Oil | HZN | $0.170 | -5.6% | -2.9% |
IDP Education | IEL | $7.47 | -19.9% | -54.4% |
IGO | IGO | $3.71 | -5.8% | -49.2% |
Iluka Resources | ILU | $3.61 | -12.6% | -50.1% |
Judo Capital | JDO | $1.385 | -5.1% | +6.5% |
Jumbo Interactive | JIN | $9.51 | -6.9% | -41.0% |
Liontown Resources | LTR | $0.555 | +7.8% | -59.0% |
Mineral Resources | MIN | $19.58 | -6.3% | -73.4% |
Mesoblast | MSB | $1.595 | -13.6% | +38.1% |
Myer | MYR | $0.675 | -6.9% | +5.0% |
New Hope Corporation | NHC | $3.69 | -1.6% | -26.5% |
Nufarm | NUF | $2.28 | -40.9% | -48.9% |
Novonix | NVX | $0.410 | -5.7% | -48.1% |
Pilbara Minerals | PLS | $1.140 | -23.0% | -70.6% |
Polynovo | PNV | $1.260 | -1.6% | -41.4% |
South32 | S32 | $2.94 | +3.9% | -25.6% |
Sovereign Metals | SVM | $0.630 | -5.3% | +12.5% |
Vulcan Energy Resources | VUL | $3.78 | -15.2% | -21.6% |
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: Alcoa Corporation (ASX: AAI), Appen (ASX: APX), Collins Foods (ASX: CKF), Coronado Global Resources (ASX: CRN), Cettire (ASX: CTT), Clarity Pharmaceuticals (ASX: CU6), Clinuvel Pharmaceuticals (ASX: CUV), Domino's Pizza Enterprises (ASX: DMP), Fortescue (ASX: FMG), G8 Education (ASX: GEM), HMC Capital (ASX: HMC), IDP Education (ASX: IEL), IGO (ASX: IGO), Iluka Resources (ASX: ILU), Jumbo Interactive (ASX: JIN), Liontown Resources (ASX: LTR), Mineral Resources (ASX: MIN), Mesoblast (ASX: MSB), Myer (ASX: MYR), Nufarm (ASX: NUF), Novonix (ASX: NVX), Pilbara Minerals (ASX: PLS), Polynovo (ASX: PNV), Sovereign Metals (ASX: SVM), Vulcan Energy Resources (ASX: VUL).
10 Randomly Picked Feature Downtrend Charts:
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Important considerations when using the ChartWatch Daily ASX Scans:
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.
