ChartWatch ASX Scans: CSL, RHC, EDV, TWE, AD8 are one value investing nightmare after the other...
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: Adore Beauty (ABY), Activeport (ATV), Canyon Resources (CAY), Dateline Resources (DTR), Electro Optic (EOS), Forrestania Resources (FRS), Imagion Biosystems (IBX), Locksley Resources (LKY), Nextdc (NXT), Seek (SEK).
- Interesting downtrends in today's Scans: Bapcor (BAP), Bank of Qld (BOQ), CSL (CSL), Ebos (EBO), Endeavour (EDV), EVT (EVT), Inghams (ING), Kogan (KGN), Lendlease (LLC), Perpetual (PPT), PYC Therapeutics (PYC), Sonic Health (SHL), Treasury Wine (TWE).
The biggest problem with value investing? 🤔
To me, it often feels like an extreme sport... kinda like wingsuit flying...
The goal is to buy “cheap” stocks – or stocks which you think are cheap (who cares what everyone else thinks, right?). Except, cheap stocks are usually priced that way for a reason – and they have a nasty habit of getting "cheaper".
Some value investors like to convince themselves that they're being "brave when others are fearful" (um, wingsuit flying again!), when really, a lot of the time they're just catching a falling knife. "Markets are irrational! I know I'm right on this one! Just look at the vaallluuueee!"
Unfortunately, markets can stay irrational longer than your portfolio can stay solvent, and sometimes “value” is just code for “business in terminal decline.” In short: buying the dip works – unless it’s the dip that keeps on dipping 📉.
Okay, down from my soapbox! And apologies to the value investors reading this who are no doubt seething by now. I do believe it takes every kind of investor to make a market – and everyone is entitled to be part of demand and supply in any way they see fit.
I'll also gladly cop your laughter and derision after I buy at the top of an exponential trend / subsequent crash... all the while having ignored your warnings that the market PE was a bazillion! 😉
As the title of this edition of ChartWatch ASX Scans suggests, there are some value investing favourites in today's Downtrends Scan List. But it's not like they just appeared there today... Nope, the likes of CSL, RHC, EDV, TWE, AD8 have been there for weeks, months, and in the case of AD8 – well over a year.
I prefer to look at these charts, and the rest of the Downtrends Scan List, as short selling opportunities – a way to hedge the long-side of my portfolio. And on the long-side, as you will see from today's Uptrends Scan List, we remain spoiled for choice.
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 % |
|---|---|---|---|---|
Aussie Broadband | ABB | $5.40 | +18.7% | +46.1% |
Adore Beauty Group | ABY | $1.205 | +47.0% | +9.5% |
Global X Battery Tech & Lithium ETF | ACDC | $109.48 | +4.2% | +40.6% |
Andromeda Metals | ADN | $0.020 | +42.9% | +185.7% |
Amplitude Energy | AEL | $0.270 | +3.8% | +45.9% |
BetaShares Asia Tech Tigers ETF | ASIA | $13.80 | +10.6% | +58.8% |
Activeport Group | ATV | $0.036 | +50.0% | -26.2% |
Canyon Resources | CAY | $0.305 | +17.3% | +267.5% |
Challenger Gold | CEL | $0.130 | +23.8% | +132.1% |
Vaneck FTSE China A50 ETF | CETF | $63.68 | +4.4% | +37.3% |
Collins Foods | CKF | $10.57 | +15.0% | +29.4% |
COG Financial Services | COG | $2.19 | +28.8% | +123.5% |
Global X China Tech ETF | DRGN | $13.65 | +17.9% | 0% |
Dateline Resources | DTR | $0.315 | +57.5% | +5150.0% |
Vaneck Emerging Inc Opportunities Active ETF | EBND | $10.90 | +1.0% | +5.4% |
Electro Optic Systems | EOS | $7.62 | +33.0% | +507.2% |
Frontier Digital Ventures | FDV | $0.390 | +11.4% | +2.0% |
Fidelity Global Emerging Markets ETF | FEMX | $7.05 | +3.4% | +26.8% |
Forrestania Resources | FRS | $0.225 | +36.4% | +675.9% |
Fleetwood | FWD | $3.02 | +7.9% | +71.6% |
Felix Gold | FXG | $0.390 | +136.4% | +381.5% |
G50 Corp | G50 | $0.350 | +16.7% | +100.0% |
Great Northern Minerals | GNM | $0.081 | +406.3% | +440.0% |
Genusplus Group | GNP | $5.92 | +19.8% | +160.8% |
Global X Artificial Intelligence ETF | GXAI | $13.92 | +3.8% | +36.9% |
Imagion Biosystems | IBX | $0.039 | +143.8% | +14.7% |
iShares MSCI Emerging Markets ETF | IEM | $80.08 | +3.3% | +25.7% |
Island Pharmaceuticals | ILA | $0.355 | +69.0% | +446.2% |
Iress | IRE | $9.50 | +4.3% | -2.8% |
iShares China Large-Cap ETF | IZZ | $61.99 | +5.6% | +60.2% |
KGL Resources | KGL | $0.190 | +100.0% | +91.1% |
Locksley Resources | LKY | $0.645 | +193.2% | +2587.5% |
Lion Rock Minerals | LRM | $0.067 | +34.0% | +1567.7% |
L1 Long Short Fund | LSF | $3.32 | +5.4% | +12.9% |
Metals X | MLX | $0.670 | +14.5% | +63.4% |
Metro Mining | MMI | $0.094 | +28.8% | +168.6% |
Nextdc | NXT | $17.75 | +22.5% | +3.0% |
Redox | RDX | $2.78 | +24.7% | -10.6% |
Regal Investment Fund | RF1 | $3.20 | +4.9% | +2.6% |
Seek | SEK | $28.88 | +4.2% | +29.2% |
Shape Australia Corporation | SHA | $4.99 | +16.0% | +85.5% |
SKS Technologies Group | SKS | $3.45 | +32.2% | +184.0% |
Sunrise Energy Metals | SRL | $5.04 | +280.4% | +972.3% |
Southern Cross Electrical Engineering | SXE | $2.08 | +4.3% | +15.2% |
TG Metals | TG6 | $0.210 | +35.5% | +40.0% |
Vanguard FTSE Asia EX Japan Shares ETF | VAE | $93.59 | +4.1% | +27.2% |
Vanguard FTSE Emerging Markets ETF | VGE | $89.88 | +2.7% | +23.4% |
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: Adore Beauty Group (ASX: ABY), Global X Battery Tech & Lithium ETF (ASX: ACDC), BetaShares Asia Technology Tigers ETF (ASX: ASIA), Activeport Group (ASX: ATV), Canyon Resources (ASX: CAY), Global X China Tech ETF (ASX: DRGN), Dateline Resources (ASX: DTR), Electro Optic Systems (ASX: EOS), Forrestania Resources (ASX: FRS), Genusplus Group (ASX: GNP), Imagion Biosystems (ASX: IBX), iShares MSCI Emerging Markets ETF (ASX: IEM), iShares China Large-Cap ETF (ASX: IZZ), Locksley Resources (ASX: LKY), Lion Rock Minerals (ASX: LRM), L1 Long Short Fund (ASX: LSF), Metals X (ASX: MLX), Metro Mining (ASX: MMI), Nextdc (ASX: NXT), Seek (ASX: SEK), SKS Technologies Group (ASX: SKS), TG Metals (ASX: TG6), Vanguard FTSE Asia EX Japan Shares Index ETF (ASX: VAE), Vanguard FTSE Emerging Markets Shares ETF (ASX: VGE).
10 Randomly chosen Feature Uptrend Charts:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Australian Clinical Labs | ACL | $2.50 | -9.1% | -26.7% |
Audinate Group | AD8 | $4.65 | -10.7% | -49.8% |
ASX | ASX | $60.55 | -4.7% | -4.7% |
Atturra | ATA | $0.760 | -10.1% | -19.1% |
Bapcor | BAP | $3.33 | -17.2% | -31.9% |
Bank of Queensland | BOQ | $7.08 | -9.3% | +8.8% |
CSL | CSL | $201.07 | -10.8% | -33.0% |
Ebos Group | EBO | $25.60 | -30.4% | -22.7% |
Endeavour Group | EDV | $3.65 | -12.7% | -28.4% |
EVT | EVT | $13.46 | -23.1% | +29.5% |
GQG Partners | GQG | $1.690 | -4.0% | -32.7% |
Helloworld Travel | HLO | $1.650 | -5.2% | -11.1% |
Healius | HLS | $0.775 | -4.3% | -39.3% |
HMC Capital | HMC | $3.52 | +7.6% | -56.2% |
Inghams Group | ING | $2.54 | -27.4% | -13.9% |
IPH | IPH | $3.92 | -29.9% | -34.3% |
Kogan.Com | KGN | $3.67 | -8.9% | -21.7% |
Lendlease Group | LLC | $5.38 | -3.6% | -23.3% |
Perpetual | PPT | $19.19 | -10.9% | +2.4% |
PYC Therapeutics | PYC | $0.850 | -35.4% | -34.3% |
Ramsay Health Care | RHC | $33.57 | -12.7% | -17.7% |
Sonic Healthcare | SHL | $22.25 | -23.1% | -17.7% |
Skycity Entertainment | SKC | $0.595 | -28.9% | -51.1% |
Supply Network | SNL | $34.75 | -12.0% | +17.9% |
Treasury Wine Estates | TWE | $7.52 | -5.2% | -33.0% |
WEB Travel Group | WEB | $4.14 | -7.8% | -37.3% |
Woolworths Group | WOW | $27.66 | -14.4% | -20.3% |
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: Bapcor (ASX: BAP), Bank of Queensland (ASX: BOQ), CSL (ASX: CSL), Ebos Group (ASX: EBO), Endeavour Group (ASX: EDV), EVT (ASX: EVT), GQG Partners (ASX: GQG), Inghams Group (ASX: ING), IPH (ASX: IPH), Kogan.Com (ASX: KGN), Lendlease Group (ASX: LLC), Perpetual (ASX: PPT), PYC Therapeutics (ASX: PYC), Sonic Healthcare (ASX: SHL), Treasury Wine Estates (ASX: TWE).
10 Randomly chosen 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's 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 – so always do your own research!!!
