ChartWatch ASX Scans: Defence solid as Telstra (figuratively) and BetaShares Global Defence ETF (literally) feature
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: Almonty Industries (AII), Antipa Minerals (AZY), Brambles (BXB), Codan (CDA), Dateline Resources (DTR), Intelligent Monitoring (IMB), JB HI-FI (JBH), Nick Scali (NCK), Telstra (TLS), Technology One (TNE), Xero (XRO).
- Interesting downtrends in today's Scans: AGL Energy (AGL), Austin Engineering (ANG), Bellevue Gold (BGL), Coronado Global Resources (CRN), IPD Group (IPG), OFX Group (OFX), Pilbara Minerals (PLS).
Scroll down and check out a couple of charts for me. I want to know whether you think they're "CHEAP" or "EXPENSIVE".
Let's start with Technology One (TNE). Okay, now scroll further down and look at Coronado Global Resources (CRN).
They really couldn't be any different! So, which one would you label "CHEAP" and which would you label "EXPENSIVE"? 🤔
How you answer this question defines you as an investor.
Consider now how a stock like TNE achieves a chart like it has, you know, bottom left-top right. It can only occur if there's a wall of demand throwing its cash at scant supply who keep running away, gripping their shares tightly.
Why are these investors, the ones that dominate market pricing for TNE's shares (by the way, you don't!), behaving in such a fashion? Is it because they believe the stock is "CHEAP" or "EXPENSIVE"? 🤔
Now consider how a stock like CRN achieves its chart, you know, top left-bottom right. It can only occur if there's a wall of panicked supply, throwing their shares into a vacuum of demand...just nobody wants to buy.
Do these investors think CRN is "CHEAP" or "EXPENSIVE"? 🤔
So, a couple of things should be apparent now. First, who cares whether you think these stocks (or any stocks) are cheap or expensive. It's irrelevant. And, secondly, if the market thinks a stock is "CHEAP" or "EXPENSIVE" is there anything else you need to know about that stock? 🤔
For me, there is no "CHEAP" or "EXPENSIVE". These are concepts I dispensed with many, many years ago. There is only trend. What does the market think? Is there consensus among market participants? Then I follow.
TNE ChartWatch Feature Uptrends (highest conviction) last 12 months: 38 times.
CRN ChartWatch Feature Downtrends (highest conviction) last 12 months: 60 times (i.e., the most of any ASX stock!).
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 % |
|---|---|---|---|---|
Australian Finance Group | AFG | $2.12 | +24.7% | +44.7% |
Almonty Industries | AII | $2.84 | +5.2% | +365.6% |
AMA Group | AMA | $0.089 | +48.3% | +116.3% |
Aspen Group | APZ | $3.43 | +12.5% | +99.4% |
BetaShares Global Defence ETF | ARMR | $22.40 | +8.3% | 0% |
Autosports Group | ASG | $2.19 | +26.6% | -9.5% |
Antipa Minerals | AZY | $0.580 | +7.4% | +383.3% |
Brambles | BXB | $22.02 | +5.9% | +52.4% |
Capral | CAA | $11.50 | +25.4% | +24.2% |
Canyon Resources | CAY | $0.290 | +52.6% | +314.3% |
Cuscal Group | CCL | $2.83 | +12.7% | 0% |
Codan | CDA | $17.27 | +18.0% | +62.9% |
Charter Hall Retail Reit | CQR | $3.91 | +6.8% | +14.3% |
BetaShares Crypto Innovators ETF | CRYP | $6.93 | +47.8% | +47.1% |
Digitalx | DCC | $0.069 | +46.8% | +43.4% |
Dateline Resources | DTR | $0.052 | +766.7% | +333.3% |
BetaShares Global Sustainability Leaders ETF | ETHI | $15.92 | +9.3% | +8.2% |
BetaShares FTSE 100 ETF | F100 | $13.96 | +6.8% | +13.4% |
Generation Development Group | GDG | $5.05 | +4.1% | +134.8% |
Genusplus Group | GNP | $3.22 | +23.4% | +76.4% |
iShares Europe ETF | IEU | $97.51 | +8.5% | +12.3% |
Intelligent Monitoring Group | IMB | $0.620 | +29.2% | +93.8% |
iShares China Large-Cap ETF | IZZ | $55.57 | +10.4% | +28.6% |
JB HI-FI | JBH | $105.54 | +8.2% | +84.8% |
Munro Global Growth Fund ETF | MAET | $6.87 | +10.3% | +11.5% |
MTM Critical Metals | MTM | $0.270 | +17.4% | +382.1% |
Nick Scali | NCK | $19.04 | +12.8% | +28.5% |
Perenti | PRN | $1.475 | +13.5% | +52.1% |
SRG Global | SRG | $1.470 | +18.5% | +72.9% |
Transurban Group | TCL | $14.30 | +3.0% | +14.6% |
Telstra Group | TLS | $4.66 | +5.4% | +26.3% |
Technology One | TNE | $36.76 | +32.4% | +125.7% |
Temple & Webster Group | TPW | $20.11 | +20.1% | +87.9% |
Titomic | TTT | $0.315 | +34.0% | +242.4% |
Unibail-Rodamco-Westfield | URW | $6.90 | +10.4% | +5.7% |
Victory Metals | VTM | $1.120 | +169.9% | +348.0% |
Wagners Holding Company | WGN | $2.14 | +32.7% | +146.0% |
Xero | XRO | $182.30 | +18.0% | +42.9% |
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: Australian Finance Group (ASX: AFG), Almonty Industries (ASX: AII), Aspen Group (ASX: APZ), BetaShares Global Defence ETF (ASX: ARMR), Antipa Minerals (ASX: AZY), Brambles (ASX: BXB), Capral (ASX: CAA), Canyon Resources (ASX: CAY), Codan (ASX: CDA), Charter Hall Retail Reit (ASX: CQR), Dateline Resources (ASX: DTR), Intelligent Monitoring Group (ASX: IMB), JB HI-FI (ASX: JBH), Nick Scali (ASX: NCK), Perenti (ASX: PRN), Telstra Group (ASX: TLS), Technology One (ASX: TNE), Titomic (ASX: TTT), Unibail-Rodamco-Westfield (ASX: URW), Victory Metals (ASX: VTM), Wagners Holding Company (ASX: WGN), Xero (ASX: XRO).
Charts of each below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
AIC Mines | A1M | $0.325 | -7.1% | -38.1% |
AGL Energy | AGL | $10.29 | +0.3% | -1.7% |
Austin Engineering | ANG | $0.355 | -18.4% | -30.4% |
Bellevue Gold | BGL | $0.850 | -12.4% | -50.7% |
Coronado Global Resources | CRN | $0.150 | -33.3% | -86.5% |
Insignia Financial | IFL | $3.36 | -6.7% | +43.0% |
IPD Group | IPG | $3.51 | -9.8% | -20.8% |
Kogan.Com | KGN | $4.12 | -5.3% | -16.6% |
Mesoblast | MSB | $1.740 | +7.4% | +63.4% |
OFX Group | OFX | $0.860 | -16.9% | -46.9% |
Pilbara Minerals | PLS | $1.380 | +0.7% | -65.6% |
Sovereign Metals | SVM | $0.625 | -13.2% | +20.2% |
Weebit Nano | WBT | $1.705 | +4.9% | -29.8% |
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: AGL Energy (ASX: AGL), Austin Engineering (ASX: ANG), Bellevue Gold (ASX: BGL), Coronado Global Resources (ASX: CRN), IPD Group (ASX: IPG), OFX Group (ASX: OFX), Pilbara Minerals (ASX: PLS).
Charts of each below:
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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.
