Evening Wrap: ASX 200 ekes out gain but major mining and energy stocks implode on China stimulus doubts, tanking commodity prices
Wed 09 Oct 24, 5:37pm (AEDT)
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Technical Analysis
/ChartWatch ASX Scans: Dropsuite, Ora Banda Mining, Resmed, Wesfarmers, Lifestyle Communities, Mineral Resources, Rio Tinto
Technical Analysis
ChartWatch ASX Scans: Dropsuite, Ora Banda Mining, Resmed, Wesfarmers, Lifestyle Communities, Mineral Resources, Rio Tinto
Fri 16 Aug 24, 9:00am (AEDT)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scans: Coles (COL), Cleanaway Waste Management (CWY), Dropsuite (DSE), Ora Banda Mining (OBM), NRW (NWH), Pro Medicus (PME), Resmed (RMD), Spartan Resources (SPR), Technology One (TNE), Wesfarmers (WES)
- Interesting downtrends in today's Scans: Boss Energy (BOE), Fortescue (FMG), Grange Resources (GRR), IGO (IGO), Iluka Resources (ILU), Lifestyle Communities (LIC), Liontown Resources (LTR), Mineral Resources (MIN), Rio Tinto (RIO), Stanmore Resources (SMR)
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 % |
|---|---|---|---|---|
AGL Energy | AGL | $11.57 | +11.3% | +5.4% |
Argo Global Listed Infrastructure | ALI | $2.22 | +3.3% | +2.3% |
Aristocrat Leisure | ALL | $54.10 | +3.3% | +31.3% |
Aspen Group | APZ | $2.13 | +16.4% | +21.7% |
Arena Reit. | ARF | $4.06 | +1.8% | +6.3% |
Botanix Pharmaceuticals | BOT | $0.380 | -3.8% | +153.3% |
Car Group | CAR | $36.36 | +1.8% | +38.1% |
Chorus | CNU | $7.43 | +3.3% | -5.9% |
Coles Group | COL | $18.43 | +4.8% | +2.9% |
Charter Hall Retail Reit | CQR | $3.54 | +1.7% | -0.8% |
Cleanaway Waste Management | CWY | $3.00 | +5.6% | +9.5% |
BetaShares Global Healthcare Hedged ETF | DRUG | $8.89 | +1.7% | +11.3% |
Dropsuite | DSE | $3.54 | +18.0% | +31.1% |
Diversified United Investment | DUI | $5.27 | +1.2% | +5.0% |
iShares Global Infrastructure (Hedged) ETF | GLIN | $26.28 | +3.5% | +5.8% |
GPT Group | GPT | $4.64 | +0.7% | +11.0% |
Guzman y Gomez | GYG | $30.30 | +14.3% | 0% |
Infomedia | IFM | $1.730 | +7.5% | +5.5% |
IVE Group | IGL | $2.19 | +6.8% | -10.6% |
Inghams Group | ING | $3.91 | +6.0% | +40.1% |
Iress | IRE | $10.49 | +13.4% | +5.0% |
Lovisa | LOV | $35.14 | +4.6% | +67.7% |
NRW | NWH | $3.50 | +12.2% | +28.2% |
Ora Banda Mining | OBM | $0.485 | +7.8% | +416.0% |
Pro Medicus | PME | $149.02 | +10.8% | +114.0% |
Resolution Cap Global Property ETF | RCAP | $1.665 | +1.5% | +8.5% |
Resmed Inc | RMD | $33.71 | +10.0% | +20.5% |
Spartan Resources | SPR | $1.295 | +19.9% | +454.6% |
Service Stream | SSM | $1.350 | -1.8% | +57.0% |
Transurban Group | TCL | $13.37 | +3.1% | -3.8% |
Technology One | TNE | $22.40 | +18.0% | +47.7% |
Vanguard International Credit Securities (Hedged) ETF | VCF | $39.04 | +1.8% | +5.3% |
Wesfarmers | WES | $74.79 | +6.1% | +47.5% |
Xero | XRO | $137.90 | -1.8% | +18.0% |
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: Coles Group (ASX: COL), Cleanaway Waste Management (ASX: CWY), Dropsuite (ASX: DSE), Ora Banda Mining (ASX: OBM), Pro Medicus (ASX: PME), Resmed Inc (ASX: RMD), Spartan Resources (ASX: SPR), Technology One (ASX: TNE), Wesfarmers (ASX: WES).
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Adriatic Metals | ADT | $2.62 | -23.2% | -30.7% |
Ampol | ALD | $31.62 | -7.6% | -0.3% |
APA Group | APA | $7.90 | -1.0% | -17.5% |
Arafura Rare Earths | ARU | $0.155 | -16.2% | -42.6% |
Bellevue Gold | BGL | $1.345 | -27.9% | -18.5% |
Bannerman Energy | BMN | $2.39 | -22.2% | +32.8% |
Boss Energy | BOE | $2.90 | -25.8% | -12.9% |
Beach Energy | BPT | $1.295 | -15.6% | -19.6% |
Chalice Mining | CHN | $0.960 | -20.7% | -82.6% |
Champion Iron | CIA | $5.61 | -11.4% | +2.4% |
Clinuvel Pharmaceuticals | CUV | $13.96 | -9.1% | -28.3% |
Core Lithium | CXO | $0.092 | -16.4% | -84.0% |
Deterra Royalties | DRR | $3.70 | -7.5% | -17.2% |
Deep Yellow | DYL | $1.000 | -27.3% | +19.0% |
Fortescue | FMG | $16.82 | -24.8% | -18.4% |
Fleetpartners Group | FPR | $3.17 | -10.5% | +16.1% |
Grange Resources | GRR | $0.285 | -24.0% | -42.4% |
IGO | IGO | $4.97 | -14.8% | -61.1% |
Iluka Resources | ILU | $5.49 | -17.1% | -43.1% |
IPH | IPH | $6.05 | -2.9% | -21.4% |
Johns Lyng Group | JLG | $5.57 | -8.1% | -2.5% |
Karoon Energy | KAR | $1.750 | -6.4% | -21.5% |
Lifestyle Communities | LIC | $8.48 | -23.0% | -50.9% |
Arcadium Lithium | LTM | $3.83 | -29.6% | 0% |
Liontown Resources | LTR | $0.780 | -18.3% | -71.5% |
Mineral Resources | MIN | $44.93 | -21.9% | -32.2% |
Nine Entertainment | NEC | $1.350 | -4.3% | -36.6% |
Neuren Pharmaceuticals | NEU | $15.61 | -23.7% | +25.5% |
Paladin Energy | PDN | $10.14 | -24.5% | +26.0% |
Patriot Battery Metals | PMT | $0.480 | -10.3% | -65.7% |
QBE Insurance Group | QBE | $16.15 | -5.1% | +6.3% |
Red 5 | RED | $0.345 | -17.9% | +64.3% |
Rio Tinto | RIO | $108.40 | -6.9% | +1.8% |
Regis Resources | RRL | $1.630 | -17.0% | +1.6% |
South32 | S32 | $2.92 | -17.7% | -23.4% |
Silex Systems | SLX | $4.20 | -18.1% | +27.7% |
Stanmore Resources | SMR | $3.17 | -18.5% | +16.6% |
Strike Energy | STX | $0.180 | -14.3% | -59.1% |
Sayona Mining | SYA | $0.024 | -27.3% | -81.5% |
Syrah Resources | SYR | $0.215 | -31.7% | -66.8% |
Terracom | TER | $0.195 | -7.1% | -57.6% |
Talga Group | TLG | $0.420 | -20.0% | -66.7% |
Viva Energy Group | VEA | $3.11 | -1.3% | -0.3% |
Vulcan Energy Resources | VUL | $3.73 | -11.6% | +0.3% |
Weebit Nano | WBT | $2.03 | -19.4% | -61.3% |
Woodside Energy Group | WDS | $25.52 | -13.2% | -33.9% |
Whitehaven Coal | WHC | $7.33 | -14.3% | +2.7% |
Worley | WOR | $14.24 | -5.7% | -18.2% |
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: Ampol (ASX: ALD), Boss Energy (ASX: BOE), Chalice Mining (ASX: CHN), Champion Iron (ASX: CIA), Deterra Royalties (ASX: DRR), Fortescue (ASX: FMG), Fleetpartners Group (ASX: FPR), Grange Resources (ASX: GRR), IGO (ASX: IGO), Iluka Resources (ASX: ILU), Lifestyle Communities (ASX: LIC), Liontown Resources (ASX: LTR), Mineral Resources (ASX: MIN), Rio Tinto (ASX: RIO), Stanmore Resources (ASX: SMR).
Charts of each below:
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.
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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