Evening Wrap: ASX 200 slumps on escalating Mid-East conflict, but golden lining for war winners energy and gold stocks
Fri 04 Oct 24, 5:21pm (AEDT)
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/ChartWatch ASX Scans: Electro Optic Systems, Insurance Australia, Paragon Care, Redox, Deep Yellow, Liontown, Sandfire, Woodside
Technical Analysis
ChartWatch ASX Scans: Electro Optic Systems, Insurance Australia, Paragon Care, Redox, Deep Yellow, Liontown, Sandfire, Woodside
Fri 26 Jul 24, 9:00am (AEDT)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scans: Austin Engineering (ANG), Electro Optic Systems (EOS), Global Data Centre (GDC), Medadvisor (MDR), Myer (MYR), Global X India Nifty 50 ETF (NDIA), NRW (NWH), Redox (RDX), Scentre (SCG), Vysarn (VYS), Zip Co. (ZIP)
- Interesting downtrends in today's Scans: Adriatic Metals (ADT), Beach Energy (BPT), Corporate Travel (CTD), Calix (CXL), Deep Yellow (DYL), Fortescue (FMG), Karoon Energy (KAR), Liontown (LTR), Paladin Energy (PDN), Sandfire (SFR), 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 % |
|---|---|---|---|---|
Adairs | ADH | $2.08 | +12.7% | +29.2% |
Austin Engineering | ANG | $0.620 | +8.8% | +125.5% |
Austal | ASB | $2.56 | +4.9% | -3.0% |
Abacus Storage King | ASK | $1.240 | +5.5% | 0% |
Bendigo and Adelaide Bank | BEN | $12.39 | +6.4% | +35.1% |
Botanix Pharmaceuticals | BOT | $0.375 | +8.7% | +177.8% |
Catapult Group International | CAT | $2.04 | +8.2% | +96.2% |
Commonwealth Bank of Australia | CBA | $132.60 | +4.5% | +27.0% |
Codan | CDA | $12.50 | +6.1% | +63.2% |
Coles Group | COL | $17.75 | +3.3% | -1.9% |
Dropsuite | DSE | $3.43 | +26.1% | +34.5% |
Electro Optic Systems | EOS | $1.885 | +21.2% | +70.6% |
Global Data Centre Group | GDC | $3.36 | +5.3% | +98.8% |
Insurance Australia Group | IAG | $7.15 | +7.0% | +21.2% |
Insignia Financial | IFL | $2.70 | +19.5% | -2.2% |
Iress | IRE | $10.21 | +26.4% | -1.8% |
Kina Securities | KSL | $0.980 | +6.5% | +22.5% |
Lycopodium | LYL | $13.81 | +8.3% | +37.8% |
Medadvisor | MDR | $0.540 | +10.2% | +129.8% |
Magellan Financial Group | MFG | $9.73 | +15.1% | +10.3% |
Maas Group | MGH | $4.42 | +7.3% | +68.1% |
Mirrabooka Investments | MIR | $3.44 | +8.9% | +15.6% |
Myer | MYR | $0.820 | -2.4% | +24.2% |
Global X India Nifty 50 ETF | NDIA | $76.95 | +2.1% | +18.1% |
NRW | NWH | $3.37 | +9.4% | +27.7% |
Ora Banda Mining | OBM | $0.430 | +24.6% | +273.9% |
OFX Group | OFX | $2.24 | +2.3% | +6.7% |
Pacific Current Group | PAC | $11.01 | +3.4% | +45.1% |
Paragon Care | PGC | $0.460 | +7.0% | +73.6% |
PM Capital Global Opportunities | PGF | $2.34 | +6.8% | +28.6% |
Premier Investments | PMV | $31.60 | -0.7% | +52.9% |
Redox | RDX | $3.40 | +12.6% | +51.8% |
Regal Partners | RPL | $3.65 | +11.6% | +35.2% |
Scentre Group | SCG | $3.31 | +4.4% | +19.5% |
Steadfast Group | SDF | $6.36 | +4.1% | +9.3% |
SKS Technologies Group | SKS | $1.655 | +90.2% | +619.6% |
Southern Cross Electrical Engineering | SXE | $1.835 | +6.1% | +175.9% |
Technology One | TNE | $19.28 | +5.4% | +24.4% |
Veem | VEE | $1.800 | +4.0% | +355.7% |
Vysarn | VYS | $0.360 | +24.1% | +125.0% |
Westpac Banking Corp | WBC | $28.34 | +3.8% | +29.8% |
XRF Scientific | XRF | $1.550 | +18.3% | +29.2% |
Zip Co. | ZIP | $1.810 | +28.4% | +311.4% |
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: Austin Engineering (ASX: ANG), Electro Optic Systems (ASX: EOS), Global Data Centre Group (ASX: GDC), Insurance Australia Group (ASX: IAG), Insignia Financial (ASX: IFL), Medadvisor (ASX: MDR), Myer (ASX: MYR), Global X India Nifty 50 ETF (ASX: NDIA), NRW (ASX: NWH), Pacific Current Group (ASX: PAC), Paragon Care (ASX: PGC), PM Capital Global Opportunities Fund (ASX: PGF), Redox (ASX: RDX), Scentre Group (ASX: SCG), SKS Technologies Group (ASX: SKS), Southern Cross Electrical Engineering (ASX: SXE), Vysarn (ASX: VYS), Zip Co. (ASX: ZIP).
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Alpha HPA | A4N | $0.780 | -9.3% | -31.9% |
Adriatic Metals | ADT | $3.15 | -20.9% | -4.3% |
Auckland International Airport | AIA | $6.81 | -4.6% | -10.9% |
Amotiv | AOV | $10.35 | -3.1% | +8.0% |
APA Group | APA | $7.70 | -7.5% | -21.0% |
Eagers Automotive | APE | $10.37 | -0.1% | -27.5% |
Arafura Rare Earths | ARU | $0.165 | -8.3% | -46.8% |
BHP Group | BHP | $41.19 | -5.0% | -7.1% |
Beach Energy | BPT | $1.430 | -5.0% | -4.7% |
Credit Corp Group | CCP | $14.61 | -2.4% | -36.7% |
Chalice Mining | CHN | $1.030 | -23.4% | -82.4% |
Corporate Travel Management | CTD | $12.47 | -9.0% | -37.1% |
Calix | CXL | $0.910 | -28.9% | -77.1% |
Core Lithium | CXO | $0.091 | +1.1% | -89.5% |
Dicker Data | DDR | $9.76 | -0.5% | +25.6% |
Deep Yellow | DYL | $1.155 | -13.2% | +63.8% |
Fortescue | FMG | $20.14 | -6.9% | -9.2% |
Ioneer | INR | $0.130 | -18.8% | -60.6% |
IPH | IPH | $5.91 | -6.2% | -25.5% |
Karoon Energy | KAR | $1.740 | -3.3% | -19.4% |
Kelsian Group | KLS | $5.03 | +0.4% | -27.5% |
Lotus Resources | LOT | $0.275 | -16.7% | +44.7% |
Latin Resources | LRS | $0.150 | -18.9% | -58.9% |
Liontown Resources | LTR | $0.915 | -1.6% | -67.8% |
Metcash | MTS | $3.56 | -1.7% | -1.9% |
Mayne Pharma Group | MYX | $4.36 | -4.4% | -7.8% |
Nanosonics | NAN | $2.97 | +0.7% | -37.6% |
Nufarm | NUF | $4.36 | -5.6% | -21.4% |
Omni Bridgeway | OBL | $0.945 | -8.7% | -66.7% |
Paladin Energy | PDN | $11.34 | -8.5% | +53.2% |
Patriot Battery Metals | PMT | $0.465 | -19.1% | -69.8% |
Ramsay Health Care | RHC | $46.48 | -0.2% | -17.9% |
Rio Tinto | RIO | $112.81 | -6.7% | -2.1% |
Regis Resources | RRL | $1.725 | -0.6% | -18.2% |
South32 | S32 | $2.91 | -20.9% | -21.8% |
Sandfire Resources | SFR | $8.16 | -7.3% | +41.7% |
Sims | SGM | $9.74 | -2.7% | -36.9% |
Smartgroup Corporation | SIQ | $8.24 | -5.6% | -3.1% |
Spark New Zealand | SPK | $3.73 | -1.1% | -20.5% |
Block | SQ2 | $93.98 | -2.3% | -16.7% |
Syrah Resources | SYR | $0.265 | -22.1% | -65.4% |
Viva Energy Group | VEA | $3.02 | -3.5% | -3.8% |
Woodside Energy Group | WDS | $26.87 | -5.1% | -27.9% |
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: Adriatic Metals (ASX: ADT), Auckland International Airport (ASX: AIA), APA Group (ASX: APA), Eagers Automotive (ASX: APE), Beach Energy (ASX: BPT), Corporate Travel Management (ASX: CTD), Calix (ASX: CXL), Deep Yellow (ASX: DYL), Fortescue (ASX: FMG), IPH (ASX: IPH), Karoon Energy (ASX: KAR), Liontown Resources (ASX: LTR), Nufarm (ASX: NUF), Paladin Energy (ASX: PDN), Patriot Battery Metals (ASX: PMT), Ramsay Health Care (ASX: RHC), Regis Resources (ASX: RRL), Sandfire Resources (ASX: SFR), Sims (ASX: SGM), Smartgroup Corporation (ASX: SIQ), Syrah Resources (ASX: SYR), Woodside Energy Group (ASX: WDS).
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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