Technical Analysis

ChartWatch ASX Scans: Cyprium Metals, Resolute Mining, Summit Minerals, IGO, Karoon Energy, Strike Energy, Nine Entertainment

Tue 11 Jun 24, 9:00am (AEST)
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Key Points

  • Interesting uptrends in today's Scan Lists include: Commonwealth Bank (CBA), Coles Group (COL), Cyprium Metals (CYM), Resolute Mining (RSG), Summit Minerals (SUM), and Vulcan Energy (VUL)
  • Interesting downtrends in today's Scan Lists include: Ampol (ALD), IGO (IGO), Karoon Energy (KAR), Nine Entertainment (NEC), Strike Energy (STX), Syrah Resources (SYR), Viva Energy (VEA), and Woodside Energy (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 %

BetaShares Australia 200 ETF

A200

$131.74

+2.1%

+10.6%

AGL Energy

AGL

$10.49

+1.4%

+10.0%

Aristocrat Leisure

ALL

$47.18

+20.5%

+26.3%

ANZ Group Holdings

ANZ

$29.18

+1.4%

+28.3%

BetaShares Australian Quality ETF

AQLT

$28.95

+3.3%

+18.5%

BetaShares S&P/ASX Australian Technology ETF

ATEC

$24.12

+1.2%

+30.4%

AUB Group

AUB

$31.40

+5.1%

+22.8%

Ausgold

AUC

$0.039

+44.4%

-22.0%

Alumina

AWC

$1.825

+14.8%

+29.4%

Bendigo and Adelaide Bank

BEN

$11.29

+14.2%

+33.0%

Bega Cheese

BGA

$4.51

+1.6%

+27.0%

Car Group

CAR

$36.63

+5.6%

+56.1%

Commonwealth Bank of Australia

CBA

$125.55

+7.2%

+30.0%

Cochlear

COH

$332.07

+3.0%

+39.3%

Coles Group

COL

$16.98

+4.3%

-4.2%

CSL

CSL

$289.00

+4.3%

-6.1%

Cyprium Metals

CYM

$0.047

+30.6%

-17.7%

Droneshield

DRO

$1.295

+43.9%

+407.8%

BetaShares Global Healthcare Hedged ETF

DRUG

$8.78

+3.3%

+12.3%

Data#3

DTL

$8.26

+7.7%

+18.5%

Dimerix

DXB

$0.575

+71.6%

+745.6%

Vaneck Video Gaming and Esports ETF

ESPO

$13.39

+11.5%

+31.1%

Fenix Resources

FEX

$0.345

+9.5%

+46.8%

Genesis Minerals

GMD

$1.990

+12.4%

+63.8%

Goodman Group

GMG

$35.31

+4.6%

+77.1%

HMC Capital

HMC

$7.49

+7.0%

+67.2%

Insurance Australia Group

IAG

$6.56

+3.6%

+28.9%

iShares Europe ETF

IEU

$87.14

+2.4%

+15.3%

Imdex

IMD

$2.40

+21.5%

+27.7%

JB HI-FI

JBH

$59.87

+4.6%

+41.2%

Kina Securities

KSL

$0.975

+3.2%

+32.7%

Vaneck Australian Banks ETF

MVB

$34.80

+4.8%

+25.2%

National Australia Bank

NAB

$35.23

+5.1%

+36.8%

Netwealth Group

NWL

$21.36

+6.0%

+61.8%

News Corporation

NWS

$42.48

+13.9%

+50.9%

Ora Banda Mining

OBM

$0.345

+11.3%

+130.0%

SPDR S&P/ASX 200 Financials EX A-Reit Fund ETF

OZF

$25.14

+4.4%

+26.3%

Pure Hydrogen Corporation

PH2

$0.210

+95.3%

-10.6%

Pro Medicus

PME

$125.87

+7.4%

+99.7%

Polynovo

PNV

$2.29

+1.3%

+57.4%

QBE Insurance Group

QBE

$18.58

+5.6%

+25.9%

Race Oncology

RAC

$1.785

+35.7%

+24.8%

Resmed Inc

RMD

$31.95

-0.8%

-3.9%

Regal Partners

RPL

$3.56

+22.8%

+31.9%

Resolute Mining

RSG

$0.585

+37.6%

+19.4%

Silver Lake Resources

SLR

$1.565

+6.5%

+49.8%

Stanmore Resources

SMR

$3.56

+10.9%

+42.1%

Step One Clothing

STP

$1.495

+8.3%

+374.6%

Summit Minerals

SUM

$0.300

+106.9%

+130.8%

Suncorp Group

SUN

$16.53

+1.0%

+25.8%

Sovereign Metals

SVM

$0.630

+23.5%

+53.7%

Seven Group Holdings

SVW

$40.17

+1.2%

+70.0%

Treasury Wine Estates

TWE

$12.07

+3.4%

+5.7%

Vanguard Australian Property Securities Index ETF

VAP

$94.91

+2.3%

+21.5%

Vulcan Energy Resources

VUL

$5.03

+26.4%

+27.7%

WCM Global Growth

WQG

$1.545

+3.0%

+28.2%

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: Bendigo and Adelaide Bank (ASX: BEN), Car Group (ASX: CAR), Commonwealth Bank of Australia (ASX: CBA), Coles Group (ASX: COL), Cyprium Metals (ASX: CYM), Droneshield (ASX: DRO), Dimerix (ASX: DXB), Vaneck Video Gaming and Esports ETF (ASX: ESPO), Kina Securities (ASX: KSL), National Australia Bank (ASX: NAB), QBE Insurance Group (ASX: QBE), Race Oncology (ASX: RAC), Resolute Mining (ASX: RSG), Summit Minerals (ASX: SUM), Vulcan Energy Resources (ASX: VUL).

Charts of each below:

Bendigo and Adelaide Bank (ASX-BEN) chart 7 June 2024Car Group (ASX-CAR) chart 7 June 2024Commonwealth Bank of Australia (ASX-CBA) chart 7 June 2024Car Group (ASX-CAR) chart 7 June 2024Cyprium Metals (ASX-CYM) chart 7 June 2024Droneshield (ASX-DRO) chart 7 June 2024Dimerix (ASX-DXB) chart 7 June 2024Vaneck Video Gaming and Esports ETF (ASX-ESPO) chart 7 June 2024Kina Securities (ASX-KSL) chart 7 June 2024National Australia Bank (ASX-NAB) chart 7 June 2024QBE Insurance Group (ASX-QBE) chart 7 June 2024Race Oncology (ASX-RAC) chart 7 June 2024Resolute Mining (ASX-RSG) chart 7 June 2024Summit Minerals (ASX-SUM) chart 7 June 2024Vulcan Energy Resources (ASX-VUL) chart 7 June 2024

Downtrends Scan List

Company

Code

Last Price

1mo %

1yr %

Australian Ethical Investment

AEF

$4.38

-2.5%

+48.0%

Ampol

ALD

$34.46

-3.2%

+13.3%

Eagers Automotive

APE

$10.14

-15.2%

-20.3%

Calix

CXL

$1.240

-6.8%

-71.0%

Core Lithium

CXO

$0.105

-27.6%

-90.5%

Fletcher Building

FBU

$2.80

-12.5%

-39.1%

Grange Resources

GRR

$0.365

-13.1%

-33.6%

G.U.D. Holdings

GUD

$10.49

+7.6%

+21.6%

IGO

IGO

$6.87

-13.5%

-51.6%

Karoon Energy

KAR

$1.695

-10.6%

-16.9%

Lifestyle Communities

LIC

$12.44

-7.5%

-16.0%

Nine Entertainment Co.

NEC

$1.400

-7.6%

-28.9%

Pilbara Minerals

PLS

$3.65

-12.5%

-21.5%

Strike Energy

STX

$0.190

-19.1%

-58.2%

Sayona Mining

SYA

$0.039

-2.5%

-78.3%

Syrah Resources

SYR

$0.435

-5.4%

-50.7%

Talga Group

TLG

$0.580

-15.9%

-52.3%

Viva Energy Group

VEA

$3.32

-2.9%

+3.8%

Weebit Nano

WBT

$2.30

-19.9%

-63.7%

Woodside Energy Group

WDS

$27.21

-3.2%

-21.2%

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: Australian Ethical Investment (ASX: AEF), Ampol (ASX: ALD), IGO (ASX: IGO), Karoon Energy (ASX: KAR), Nine Entertainment Co. (ASX: NEC), Strike Energy (ASX: STX), Syrah Resources (ASX: SYR), Viva Energy Group (ASX: VEA), Woodside Energy Group (ASX: WDS).

Charts of each below:

Ampol (ASX-ALD) chart 7 June 2024Australian Ethical Investment (ASX-AEF) chart 7 June 2024IGO (ASX-IGO) chart 7 June 2024Karoon Energy (ASX-KAR) chart 7 June 2024Nine Entertainment Co. Holdings (ASX-NEC) chart 7 June 2024Strike Energy (ASX-STX) chart 7 June 2024Syrah Resources (ASX-SYR) chart 7 June 2024Viva Energy Group (ASX-VEA) chart 7 June 2024Woodside Energy Group (ASX-WDS) chart 7 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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