Technical Analysis

ChartWatch ASX Scans: Droneshield, Global Data Centre, Mitre Mining, Spartan Resources, Yancoal, Woodside Energy

Wed 29 May 24, 9:15am (AEST)
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Key Points

  • Interesting uptrends in today's Scan Lists include: Droneshield (DRO), Global Data Centre Group (GDC), Mitre Mining Corporation (MMC) Spartan Resources (SPR), and Yancoal Australia (YAL)
  • Interesting downtrends in today's Scan Lists include: Australian Clinical Labs (ACL), Audinate Group (AD8), Corporate Travel Management (CTD), Domino's Pizza Enterprises (DMP), Flight Centre Travel Group (FLT)

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 %

Commonwealth Bank of Australia.

CBA

$120.31

+5.7%

+23.1%

Centuria Capital Group

CNI

$1.850

+5.4%

+6.3%

Carnarvon Energy

CVN

$0.220

+15.8%

+69.2%

Catalyst Metals

CYL

$1.180

+25.5%

+53.2%

Droneshield

DRO

$0.980

+23.3%

+216.1%

Global Data Centre Group

GDC

$2.95

+31.7%

+89.7%

iShares Europe ETF

IEU

$86.76

+3.1%

+12.8%

Iperionx

IPX

$2.42

+13.1%

+161.6%

Medadvisor

MDR

$0.435

+47.5%

+93.3%

Metals X

MLX

$0.475

+5.6%

+86.3%

Mystate

MYS

$3.69

+3.7%

+9.8%

New Hope Corporation

NHC

$5.05

+11.2%

+0.8%

Probiotec

PBP

$2.98

+4.6%

+16.9%

Paragon Care

PGC

$0.385

+13.2%

+67.4%

Regal Asian Investments

RG8

$2.12

+7.6%

+6.0%

Spartan Resources

SPR

$0.780

+30.0%

+613.7%

WAM Global

WGB

$2.27

+1.3%

+22.4%

Whitehaven Coal

WHC

$8.00

+4.3%

+24.8%

Yancoal Australia

YAL

$6.57

+19.7%

+31.4%

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: Centuria Capital Group (ASX: CNI), Catalyst Metals (ASX: CYL), Droneshield (ASX: DRO), Global Data Centre Group (ASX: GDC), Iperionx (ASX: IPX), Mitre Mining Corporation (ASX: MMC), Mystate (ASX: MYS), Regal Asian Investments (ASX: RG8), Spartan Resources (ASX: SPR), Sovereign Metals (ASX: SVM), VGI Partners Global Investments (ASX: VG1), Yancoal Australia (ASX: YAL).

Charts of each below:

Centuria Capital Group (ASX-CNI) chart 28 May 2024Catalyst Metals (ASX-CYL) chart 28 May 2024Droneshield (ASX-DRO) chart 28 May 2024Global Data Centre Group (ASX-GDC) chart 28 May 2024Iperionx (ASX-IPX) chart 28 May 2024Mitre Mining Corporation (ASX-MMC) chart 28 May 2024Mystate (ASX-MYS) chart 28 May 2024Regal Asian Investments (ASX-RG8) chart 28 May 2024Spartan Resources (ASX-SPR) chart 28 May 2024Sovereign Metals (ASX-SVM) chart 28 May 2024VGI Partners Global Investments (ASX-VG1) chart 28 May 2024Yancoal Australia (ASX-YAL) chart 28 May 2024

Downtrends Scan List

Company

Code

Last Price

1mo %

1yr %

Aussie Broadband

ABB

$3.44

-6.3%

+21.6%

Australian Clinical Labs

ACL

$2.16

-11.8%

-34.3%

Audinate Group

AD8

$15.42

-18.4%

+75.6%

APM Human Services International

APM

$1.105

-11.2%

-40.1%

Arafura Rare Earths

ARU

$0.190

0%

-47.2%

ASX

ASX

$63.26

-0.7%

-6.6%

Aurizon Holdings

AZJ

$3.68

-5.4%

+4.5%

Brainchip Holdings

BRN

$0.265

-10.2%

-34.6%

Brambles

BXB

$14.34

-1.0%

+0.6%

Charter Hall Social Infrastructure Reit

CQE

$2.48

-2.0%

-15.1%

Coronado Global Resources Inc.

CRN

$1.115

-8.2%

-15.8%

Corporate Travel Management

CTD

$13.73

-11.8%

-32.7%

Core Lithium

CXO

$0.140

0%

-86.5%

Dicker Data

DDR

$9.10

-15.6%

+10.0%

Domain Holdings Australia

DHG

$2.86

-5.0%

-15.9%

Domino's Pizza Enterprises

DMP

$36.52

-7.2%

-20.1%

Data#3

DTL

$7.42

-4.8%

+6.6%

Flight Centre Travel Group

FLT

$19.40

-8.4%

-5.2%

GWA Group

GWA

$2.30

-12.2%

+29.9%

Healthco Healthcare and Wellness Reit

HCW

$1.140

-5.8%

-17.7%

Healius

HLS

$1.235

+1.2%

-57.2%

IGO

IGO

$7.27

-1.4%

-48.2%

Iluka Resources

ILU

$7.24

-4.6%

-34.5%

Iress

IRE

$7.73

-10.1%

-25.0%

Kelsian Group

KLS

$5.20

-6.6%

-21.0%

MA Financial Group

MAF

$4.57

-0.4%

-3.2%

Magellan Financial Group

MFG

$8.14

-9.3%

+7.0%

Mirvac Group

MGR

$1.985

-4.6%

-15.2%

McMillan Shakespeare

MMS

$16.89

-10.6%

+10.8%

Nine Entertainment Co. Holdings

NEC

$1.440

-5.9%

-24.8%

Novonix

NVX

$0.740

-16.9%

-20.0%

OOH!Media

OML

$1.470

-13.3%

+20.0%

Orora

ORA

$2.11

-4.1%

-31.6%

Ramsay Health Care

RHC

$47.98

-8.6%

-17.2%

Seek

SEK

$22.31

-8.2%

-7.2%

Sims

SGM

$10.82

-10.9%

-23.5%

Sonic Healthcare

SHL

$24.18

-9.6%

-30.9%

Smartgroup Corporation

SIQ

$8.25

-15.9%

+13.4%

Washington H Soul Pattinson & Company

SOL

$31.90

-2.7%

-4.1%

Spark New Zealand

SPK

$3.79

-11.4%

-22.7%

Tabcorp Holdings

TAH

$0.630

-14.3%

-43.8%

Telstra Group

TLS

$3.51

-4.1%

-18.9%

Tyro Payments

TYR

$0.855

-10.9%

-26.3%

Woodside Energy Group

WDS

$27.63

-2.0%

-20.9%

Worley

WOR

$15.04

-7.8%

-8.6%

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 Clinical Labs (ASX: ACL), Audinate Group (ASX: AD8), Corporate Travel Management (ASX: CTD), Domino's Pizza Enterprises (ASX: DMP), Flight Centre Travel Group (ASX: FLT), Iress (ASX: IRE), Kelsian Group (ASX: KLS), Magellan Financial Group (ASX: MFG), McMillan Shakespeare (ASX: MMS), Nine Entertainment Co. Holdings (ASX: NEC), Novonix (ASX: NVX), Orora (ASX: ORA), Sims (ASX: SGM), Sonic Healthcare (ASX: SHL), Smartgroup Corporation (ASX: SIQ), Spark New Zealand (ASX: SPK), Tabcorp Holdings (ASX: TAH).

Charts of each below:

Audinate Group (ASX-AD8) chart 28 May 2024Australian Clinical Labs (ASX-ACL) chart 28 May 2024Corporate Travel Management (ASX-CTD) chart 28 May 2024Domino-s Pizza Enterprises (ASX-DMP) chart 28 May 2024Flight Centre Travel Group (ASX-FLT) chart 28 May 2024Iress (ASX-IRE) chart 28 May 2024Kelsian Group (ASX-KLS) chart 28 May 2024Magellan Financial Group (ASX-MFG) chart 28 May 2024McMillan Shakespeare (ASX-MMS) chart 28 May 2024Nine Entertainment Co. Holdings (ASX-NEC) chart 28 May 2024Novonix (ASX-NVX) chart 28 May 2024Orora (ASX-ORA) chart 28 May 2024Sims (ASX-SGM) chart 28 May 2024Smartgroup Corporation (ASX-SIQ) chart 28 May 2024Sonic Healthcare (ASX-SHL) chart 28 May 2024Spark New Zealand (ASX-SPK) chart 28 May 2024Tabcorp Holdings (ASX-TAH) chart 28 May 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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