ChartWatch ASX Scans: CSL, Wisetech Global, Santos, Treasury Wine Estates, Ramsay Health Care, Audinate, Bank of Queensland
Your daily dose of the most interesting uptrends and downtrends on the ASX with technical analysis from an expert.
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Today is possibly the first time the article title contains solely Downtrends Scan List constituents. So, if you clicked on this article thinking those widely held stalwarts of, can I say, most Aussie investors' portfolios are shooting the lights out – you'll be very disappointed!
From a purely technical standpoint, it's more a case of these stocks being taken out behind the old woolshed and... well, you get my drift. You see, the charts of:
CSL (CSL): Most recent downtrend identified here 19-Aug @ $225.50, but broader downtrend identified 27-Sep 2024 @ $285.10.
Wisetech Global (WTC): Most recent downtrend identified here 3-Sep @ $94.80.
Santos (STO): Most recent downtrend identified here 23-Sep @ $6.74.
Treasury Wine Estates (TWE): Most recent downtrend identified here 23-Jan @ $10.47.
Ramsay Health Care (RHC): Most recent downtrend identified here 11-Sep @ $33.35, but broader downtrend identified 21-Jun 2024 @ $48.53.
Audinate (AD8): Today's mention kicks off a new short term downtrend, but the broader downtrend identified 27-May 2024 @ $15.98.
Whilst household names and supposedly "blue-chips", are also some of the worst offenders when it comes to appearing in my Downtrends Scan List – and proudly, as far as I'm concerned! Sure, I love to show ChartWatch ASX Scans readers the strongest uptrends, but I believe my work in pointing out the direst downtrends is equally valuable and important.
Indeed, today is a rare day where there are more Downtrends Scan List constituents than Uptrends Scan List constituents (31 to 29). The skew towards Feature charts was even more stark (i.e., my highest conviction trends) at 18 to 10. This is more than a little disturbing given we made a new all-time high on the benchmark ASX 200 just last week – hmmm... something isn't quite right! 🤔
But there is a silver lining, because for those who fear the market is about to come unstuck, then the Downtrends Scan List potentially holds a wealth of opportunity for those looking to hedge their long-side exposure via shorts.
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. You can also watch a number of videos in which I perform live analysis of ASX stocks requested by viewers, including detailed explanations of how my methodology works 📺.
How to use the Uptrends & Downtrends lists, and Feature Chart lists
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 % |
|---|---|---|---|---|
Acusensus | ACE | $1.800 | +65.1% | +87.5% |
Ansell | ANN | $34.28 | +7.9% | +10.0% |
Eagers Automotive | APE | $33.06 | +20.1% | +187.9% |
Cogstate | CGS | $2.55 | +18.6% | +164.2% |
Civmec | CVL | $1.475 | +5.4% | +18.0% |
Ecograf | EGR | $0.680 | +86.3% | +690.7% |
Energy One | EOL | $19.82 | +10.2% | +252.0% |
EZZ Life Science Holdings | EZZ | $3.18 | +43.2% | -10.9% |
Future Generation Global | FGG | $1.645 | +3.5% | +21.4% |
Gemlife Communities | GLF | $5.17 | +11.2% | 0% |
Grange Resources | GRR | $0.255 | +10.9% | -3.8% |
BetaShares Aust. Shares High Yield ETF | HYLD | $32.17 | +2.5% | 0% |
Hazer Group | HZR | $0.560 | +31.8% | +36.6% |
iShares ASX DIV Opportunities ESG ETF | IHD | $16.61 | +2.7% | +16.0% |
LGI | LGI | $4.50 | +18.4% | +61.9% |
Loyal Metals | LLM | $0.385 | +42.6% | +220.8% |
MA Financial Group | MAF | $9.99 | +9.8% | +53.2% |
National Australia Bank | NAB | $44.62 | +0.7% | +14.7% |
Platinum Capital | PMC | $1.625 | +3.5% | +12.8% |
Pivotal Metals | PVT | $0.030 | +275.0% | +42.9% |
Power Holdings | PWH | $8.77 | +12.0% | +0.5% |
Qualitas | QAL | $3.86 | +14.2% | +44.6% |
Steadfast Group | SDF | $6.63 | +11.4% | +22.1% |
Stockland | SGP | $6.73 | +10.1% | +28.9% |
Starpharma Holdings | SPL | $0.335 | +52.3% | +264.1% |
Transurban Group | TCL | $15.04 | +9.3% | +15.1% |
Weebit Nano | WBT | $5.42 | +67.3% | +185.3% |
Wesfarmers | WES | $94.21 | +1.9% | +35.1% |
SPDR World Ex-Aus Carbon Aware ETF | WXHG | $28.16 | +3.6% | +10.3% |
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: Acusensus (ASX: ACE), Eagers Automotive (ASX: APE), Ecograf (ASX: EGR), Grange Resources (ASX: GRR), Hazer Group (ASX: HZR), Loyal Metals (ASX: LLM), MA Financial Group (ASX: MAF), Power Holdings (ASX: PWH), Stockland (ASX: SGP), Weebit Nano (ASX: WBT).
Feature Uptrend Charts:
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Downtrends Scan List 📉
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Alpha HPA | A4N | $0.780 | -8.2% | -24.6% |
Audinate Group | AD8 | $4.98 | +8.0% | -42.2% |
Atlas Arteria | ALX | $4.87 | 0% | -2.4% |
Bapcor | BAP | $2.57 | -18.7% | -46.3% |
Boss Energy | BOE | $1.590 | -23.2% | -55.6% |
Bank of Queensland | BOQ | $7.08 | -2.3% | +2.8% |
Brainchip Holdings | BRN | $0.190 | -7.3% | -13.6% |
Canyon Resources | CAY | $0.205 | -22.6% | +41.4% |
Credit Corp | CCP | $14.62 | -5.0% | -16.0% |
CSL | CSL | $177.86 | -10.6% | -39.4% |
Cleanaway Waste Management | CWY | $2.55 | -8.9% | -11.2% |
Ebos Group | EBO | $24.61 | -5.4% | -26.5% |
Findi | FND | $2.05 | -39.7% | -58.8% |
G8 Education | GEM | $0.825 | +0.6% | -38.7% |
Healthco Health & Wellness Reit | HCW | $0.680 | -3.5% | -41.4% |
HMC Capital | HMC | $3.17 | -1.9% | -65.6% |
Lindsay Australia | LAU | $0.600 | -10.4% | -32.2% |
Lifestyle Communities | LIC | $5.30 | -7.8% | -40.8% |
Light & Wonder | LNW | $115.15 | -11.1% | -17.6% |
Native Mineral Resources | NMR | $0.085 | -22.7% | +174.2% |
Nufarm | NUF | $2.14 | -5.3% | -42.6% |
Nuix | NXL | $2.44 | -15.9% | -63.7% |
OFX Group | OFX | $0.645 | -22.3% | -53.1% |
OOH!Media | OML | $1.390 | -8.9% | +17.3% |
Ramsay Health Care | RHC | $31.55 | -0.1% | -24.5% |
Star Entertainment | SGR | $0.091 | +2.2% | -82.3% |
Sonic Healthcare | SHL | $21.40 | +0.8% | -22.6% |
Stanmore Resources | SMR | $2.02 | +3.6% | -34.8% |
Santos | STO | $6.32 | -8.4% | -9.2% |
Treasury Wine Estates | TWE | $5.97 | -15.8% | -49.2% |
Wisetech Global | WTC | $71.52 | -23.1% | -33.5% |
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: Audinate Group (ASX: AD8), Boss Energy (ASX: BOE), Bank of Queensland (ASX: BOQ), Credit Corp Group (ASX: CCP), CSL (ASX: CSL), Cleanaway Waste Management (ASX: CWY), Ebos Group (ASX: EBO), Findi (ASX: FND), Healthco Healthcare and Wellness Reit (ASX: HCW), HMC Capital (ASX: HMC), Lindsay Australia (ASX: LAU), Lifestyle Communities (ASX: LIC), Light & Wonder (ASX: LNW), Nufarm (ASX: NUF), OFX Group (ASX: OFX), Santos (ASX: STO), Treasury Wine Estates (ASX: TWE), Wisetech Global (ASX: WTC).
10 Randomly chosen Feature Downtrend Charts:
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Important considerations when using the ChartWatch Daily ASX Scans:
1. For more information on Carl's trend following information, check out his Technical analysis for beginners: ChartWatch Primer.
2. 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!!!
