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Technical Analysis
/ChartWatch ASX Scans: CSL, MIN and MTS hit hard in ASX crash as stalwarts APA, NST and TLS hang tough
Technical Analysis
ChartWatch ASX Scans: CSL, MIN and MTS hit hard in ASX crash as stalwarts APA, NST and TLS hang tough
Tue 08 Apr 25, 10:02am (AEST)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scans: APA Group (APA), Abacus Storage King (ASK), Northern Star Resources (NST), Vaneck Gold Bullion ETF (NUGG), Telstra Group (TLS).
- Interesting downtrends in today's Scans: Alligator Energy (AGE), Appen (APX), Chalice Mining (CHN), Coronado Resources (CRN), CSL (CSL), Calix (CXL), Core Lithium (CXO), Elders (ELD), Mineral Resources (MIN), Novonix (NVX), Weebit Nano (WBT), Block (XYZ).
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.
A "sensible" number of potential short trades opportunities in today's Scans – just 20. Compare and contrast this to the 50-plus and 60-plus last few sessions and this may seem a little counterintuitive given Monday's massive sell-off. Shouldn't there be more?
Not necessarily! The charts I show you here are carefully curated – both potential longs (uptrends) and shorts (downtrends) take into account candles that aren't consistent with the continuation of their respective prevailing trends.
Sure, Monday was a terrible day for most ASX stocks, but also, many of them closed off their lows – thus forming white-bodied candles or candles with downward pointing shadows. As you know, these are inconsistent with continued supply-side control (at least in the very short term), and so these potential setups were omitted.
Still, 20 potential Feature downtrends is much greater than the corresponding 5 Feature uptrends, and is indicative of the present bearish state of the market. It also has been the trend for many weeks now.
I'll leave you with one final (and potentially haunting) thought: What if you had sold even just some of your holdings in the stocks that appeared in these downtrends lists the day they first appeared? 🤔
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 % |
APA Group | APA | $7.91 | +7.8% | -7.3% |
Abacus Storage King | ASK | $1.400 | +20.2% | +14.8% |
Catalyst Metals | CYL | $5.62 | +32.9% | +669.9% |
De Grey Mining | DEG | $2.16 | +8.5% | +71.9% |
Gold Road Resources | GOR | $2.94 | +15.3% | +76.0% |
Northern Star Resources | NST | $18.60 | +8.0% | +25.1% |
Vaneck Gold Bullion ETF | NUGG | $50.46 | +9.7% | +45.8% |
Global X Ultra Short Nasdaq-100 Hedge Fund ETF | SNAS | $39.67 | +50.7% | +14.3% |
Spartan Resources | SPR | $1.815 | +27.8% | +178.9% |
Telstra Group | TLS | $4.31 | +3.9% | +12.5% |
Today's Uptrends Scan List
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
29METALS | 29M | $0.115 | -34.3% | -71.6% |
Alligator Energy | AGE | $0.023 | -17.9% | -63.5% |
Amotiv | AOV | $6.83 | -28.0% | -38.2% |
Appen | APX | $0.780 | -39.8% | +20.9% |
Brainchip | BRN | $0.175 | -14.6% | -50.7% |
Chalice Mining | CHN | $0.890 | -35.0% | -18.0% |
Coronado Global Resources | CRN | $0.245 | -52.4% | -78.8% |
CSL | CSL | $241.88 | -6.8% | -13.6% |
Calix | CXL | $0.260 | -32.5% | -82.7% |
Core Lithium | CXO | $0.057 | -30.5% | -63.2% |
DUG Technology | DUG | $0.900 | -25.9% | -66.2% |
Elders | ELD | $5.80 | -18.7% | -38.7% |
Integral Diagnostics | IDX | $2.14 | -6.6% | -10.1% |
IPH | IPH | $4.26 | -10.1% | -29.2% |
Iperionx | IPX | $2.17 | -35.6% | -3.6% |
Kelsian Group | KLS | $2.31 | -27.1% | -58.2% |
Metals Acquisition | MAC | $12.45 | -22.9% | -40.9% |
Mineral Resources | MIN | $16.72 | -20.7% | -76.2% |
Metcash | MTS | $2.98 | -3.9% | -23.4% |
Novonix | NVX | $0.350 | -15.7% | -61.1% |
Patriot Battery Metals | PMT | $0.205 | -26.8% | -76.8% |
PWR Holdings | PWH | $6.30 | -13.7% | -45.5% |
Regal Partners | RPL | $1.825 | -40.9% | -37.5% |
Sonic Healthcare | SHL | $24.63 | -8.2% | -14.9% |
Skycity Entertainment Group | SKC | $1.060 | -10.5% | -43.5% |
Stanmore Resources | SMR | $1.680 | -26.0% | -44.0% |
Seven West Media | SWM | $0.135 | -15.6% | -28.9% |
Syrah Resources | SYR | $0.200 | -13.0% | -61.9% |
Viva Energy Group | VEA | $1.430 | -11.7% | -62.4% |
Weebit Nano | WBT | $1.460 | -25.1% | -54.1% |
Webjet | WJL | $0.465 | -32.6% | 0% |
Block | XYZ | $76.87 | -18.4% | -32.7% |
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: Alligator Energy (ASX: AGE), Amotiv (ASX: AOV), Appen (ASX: APX), Chalice Mining (ASX: CHN), Coronado Global Resources (ASX: CRN), CSL (ASX: CSL), Calix (ASX: CXL), Core Lithium (ASX: CXO), DUG Technology (ASX: DUG), Elders (ASX: ELD), Metals Acquisition (ASX: MAC), Mineral Resources (ASX: MIN), Novonix (ASX: NVX), Patriot Battery Metals (ASX: PMT), PWR Holdings (ASX: PWH), Sonic Healthcare (ASX: SHL), Skycity Entertainment Group (ASX: SKC), Seven West Media (ASX: SWM), Weebit Nano (ASX: WBT), Block (ASX: XYZ).
Charts of each below:
ChartWatch Primer
For a detailed explanation of Carl's technical analysis methodology, be sure to check out this ChartWatch Primer.
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.
Carl has over 30-year's 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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