ChartWatch ASX Scans: Fortescue, Mineral Resources, Pilbara Minerals, Liontown Resources, Northern Star Resources, Iluka
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
- Argosy (AGY), Champion Iron (CIA), Core Lithium (CXO), Delta Lithium (DLI), Fortescue (FMG), Galan Lithium (GLN), Genesis Minerals (GMD), Healius (HLS), Iluka (ILU), Liontown (LTR), Mineral Resources (MIN), Northern Star (NST), Pilbara Minerals (PLS).
- Audinate (AD8), Catapult (CAT), Cochlear (COH), CSL (CSL), Gentrack (GTK), Nuix (NXL), Nextdc (NXT), OOH!Media (OML), Pro Medicus (PME), Ridley (RIC), Telix Pharmaceuticals (TLX), Treasury Wine (TWE), Tyro Payments (TYR), Web Travel (WEB), Xero (XRO).
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A really solid mix of uptrends and downtrends in today's edition, and within each group, an equally solid mix of Continuation and Turnaround Setups.
As I look through the long list of lithium stocks in today's Uptrends Scan List, I am especially proud of my Turnaround Setup. Can I risk boasting by saying this is one of, perhaps the best thing anyone on the internet who's writing stuff about investing, is ever going to teach you – for free.
Those who know the setup well, and who have been using it for an extended period of time, very likely agree with that statement. For those who aren't so familiar, here's what you need to know about the Turnaround Setup:
Long term trend ribbon is neutral (amber) or up (dark green), i.e., it cannot be down (dark pink)
Short term trend ribbon is up (light green)
Price action is rising peaks and rising troughs
The price has closed above the long term trend ribbon, and has set a trough in or above it
Predominance of demand-side candles (i.e., those with white bodies and or downward pointing shadows)
A strong demand-side candle (i.e., a relatively long demand-side candle)
Recent case studies for this setup in today's Uptrends Scan List include: AGY, CXO, DLI, GL1, GLN, and LKE. But consider also, that other stocks were Turnaround Setups many weeks ago, and now have developed into Continuation Setups, for example: ACDC, MIN, PLS, and LTR. If you're wondering, I prefer shiraz 🍷😉.
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. You can also watch these videos 📺 in which I perform live analysis of ASX stocks as requested by viewers, including detailed explanations of how my methodology works.
How to use the Uptrends & Downtrends lists, and Feature Chart lists
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 % |
|---|---|---|---|---|
Global X Battery Tech & Lithium ETF | ACDC | $136.92 | +7.1% | +64.5% |
Actinogen Medical | ACW | $0.056 | +75.0% | +115.4% |
Argosy Minerals | AGY | $0.081 | +65.3% | +131.4% |
Chrysos Corp. | C79 | $9.00 | +9.1% | +73.7% |
Charter Hall Group | CHC | $23.64 | +3.2% | +53.9% |
Champion Iron | CIA | $5.44 | +13.1% | -1.6% |
Collins Foods | CKF | $11.04 | +2.1% | +29.9% |
Core Lithium | CXO | $0.255 | +131.8% | +160.2% |
Delta Lithium | DLI | $0.255 | +54.5% | +41.8% |
Emeco Holdings | EHL | $1.265 | +7.2% | +70.9% |
Fortescue | FMG | $21.22 | +4.2% | +18.2% |
Forrestania Resources | FRS | $0.240 | +2.1% | +1614.3% |
Global Lithium Resources | GL1 | $0.660 | +36.1% | +256.8% |
Galan Lithium | GLN | $0.250 | +66.7% | +72.4% |
Genesis Minerals | GMD | $6.60 | +11.3% | +185.7% |
GPT Group | GPT | $5.64 | +3.7% | +21.3% |
Healius | HLS | $0.940 | +19.7% | -3.4% |
Horizon Minerals | HRZ | $0.067 | -8.2% | +63.4% |
Iluka Resources | ILU | $7.10 | -6.2% | +26.8% |
Lake Resources | LKE | $0.070 | +112.1% | +34.6% |
L1 Long Short Fund | LSF | $3.67 | +7.6% | +19.2% |
Liontown Resources | LTR | $1.605 | +51.4% | +87.7% |
Lycopodium | LYL | $13.20 | +7.3% | +28.9% |
Macmahon Holdings | MAH | $0.570 | +22.6% | +70.1% |
Mineral Resources | MIN | $50.78 | +23.8% | +43.2% |
Manuka Resources | MKR | $0.072 | +14.3% | +93.8% |
Vaneck Australian Resources ETF | MVR | $42.76 | +5.9% | +27.4% |
Navigator Global Investments | NGI | $2.98 | +35.5% | +79.5% |
Northern Star Resources | NST | $26.56 | +12.7% | +63.4% |
Nexted Group | NXD | $0.400 | +95.1% | +263.6% |
Pilbara Minerals | PLS | $4.19 | +49.1% | +35.6% |
Platinum Capital | PMC | $1.740 | +7.4% | +27.0% |
Pmet Resources | PMT | $0.520 | +33.3% | +82.5% |
Perseus Mining | PRU | $5.40 | +15.4% | +113.4% |
Regis Resources | RRL | $7.01 | +17.2% | +174.9% |
Tesoro Gold | TSO | $0.069 | +9.5% | +146.4% |
Westgold Resources | WGX | $5.85 | +13.8% | +115.1% |
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: Argosy Minerals (ASX: AGY), Charter Hall Group (ASX: CHC), Champion Iron (ASX: CIA), Core Lithium (ASX: CXO), Delta Lithium (ASX: DLI), Emeco Holdings (ASX: EHL), Fortescue (ASX: FMG), Forrestania Resources (ASX: FRS), Galan Lithium (ASX: GLN), Genesis Minerals (ASX: GMD), Healius (ASX: HLS), Iluka Resources (ASX: ILU), Lake Resources (ASX: LKE), Liontown Resources (ASX: LTR), Mineral Resources (ASX: MIN), Vaneck Australian Resources ETF (ASX: MVR), Northern Star Resources (ASX: NST), Pilbara Minerals (ASX: PLS), Pmet Resources (ASX: PMT), Westgold Resources (ASX: WGX).
10 Randomly chosen Feature Uptrend Charts:
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Downtrends Scan List 📉
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Alpha HPA | A4N | $0.730 | -8.2% | -25.9% |
Audinate Group | AD8 | $3.93 | -29.1% | -55.4% |
Auckland International Airport | AIA | $6.73 | -6.7% | +2.4% |
Boss Energy | BOE | $1.670 | 0% | -45.6% |
Catapult Sports | CAT | $4.32 | -38.7% | +44.0% |
Cochlear | COH | $269.44 | -6.6% | -8.1% |
CSL | CSL | $178.34 | -19.2% | -34.5% |
Droneshield | DRO | $1.890 | -60.5% | +137.7% |
Electro Optic Systems Holdings | EOS | $4.61 | -18.3% | +287.4% |
Goodman Group | GMG | $29.70 | -12.0% | -20.8% |
Gentrack Group | GTK | $6.34 | -20.1% | -33.6% |
IPH | IPH | $3.60 | +2.3% | -30.2% |
JB HI-FI | JBH | $95.87 | -16.5% | +8.4% |
News Corp. Class B | NWS | $44.04 | -4.9% | -11.4% |
Nuix | NXL | $1.825 | -40.6% | -70.6% |
Nextdc | NXT | $13.81 | -15.2% | -16.4% |
OOH!Media | OML | $1.245 | -11.1% | +2.9% |
Pro Medicus | PME | $253.04 | -11.0% | +21.4% |
QBE Insurance Group | QBE | $19.68 | -1.8% | +1.9% |
Ridley Corp. | RIC | $2.64 | -12.9% | -2.6% |
Spark New Zealand | SPK | $1.940 | -9.3% | -31.4% |
Telix Pharmaceuticals | TLX | $13.88 | -17.4% | -39.1% |
Temple & Webster Group | TPW | $19.33 | -17.3% | +64.8% |
Treasury Wine Estates | TWE | $5.65 | -8.1% | -49.4% |
Tyro Payments | TYR | $0.990 | -15.4% | +4.2% |
Web Travel Group | WEB | $3.86 | -9.6% | -10.6% |
Wisetech Global | WTC | $64.21 | -23.9% | -50.9% |
Xero | XRO | $120.47 | -22.0% | -30.2% |
Zip Co. | ZIP | $2.98 | -27.7% | -8.3% |
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: Audinate Group (ASX: AD8), Catapult Sports (ASX: CAT), Cochlear (ASX: COH), CSL (ASX: CSL), Gentrack Group (ASX: GTK), Nuix (ASX: NXL), Nextdc (ASX: NXT), OOH!Media (ASX: OML), Pro Medicus (ASX: PME), Ridley Corp. (ASX: RIC), Spark New Zealand (ASX: SPK), Telix Pharmaceuticals (ASX: TLX), Treasury Wine Estates (ASX: TWE), Tyro Payments (ASX: TYR), Web Travel Group (ASX: WEB), Xero (ASX: XRO).
10 Randomly chosen Feature Downtrend Charts:
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Important considerations when using the ChartWatch Daily ASX Scans:
1. For more information on Carl's trend following information, check out his Technical analysis for beginners: ChartWatch Primer.
2. 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 next trading today. 2. These lists are not exhaustive, they are carefully 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's 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 – so always do your own research!!!
