ChartWatch ASX Scans: Fortescue, Woodside Energy, Whitehaven Coal, Coles Group, Telstra, Siteminder, Zip Co.
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: Coles (COL), Catalyst Metals (CYL), Droneshield (DRO), Iluka (ILU), JB HI-FI (JBH), Lynas Rare Earths (LYC), Newmont (NEM), Neuren (NEU), Siteminder (SDR), Trigg Minerals (TMG), Viridis Mining (VMM), Zip Co. (ZIP).
- Interesting downtrends in today's Scans: Audinate Group (AD8), Accent Group (AX1), Boss Energy (BOE), Fletcher Building (FBU), Gentrack Group (GTK), Reece (REH), The Star Entertainment Group (SGR), Strike Energy (STX).
Despite wobbles in US markets for two trading sessions in the lead up o Monday's candle, there was no shortage of strong uptrends to choose from on the ASX today. Most interestingly for me, is the number of corresponding strong demand-side candles (i.e., those with white bodies and or downward pointing shadows). These can only form when the closing price is well above the open and or low price.
Candles of this nature demonstrate the investors were focussed on buying the dip in the stocks – instead of fear after opening declines, they were fearless. Instead of reasons to panic, they saw reasons to add risk. This is why this price action, and buy the dip activity more generally, is synonymous with demand-side control.
Demand-side control is synonymous with rising prices ✅.
Just as reassuring for readers (and Aussie investors in general), should be the continuing lack of strong downtrend options to choose from. A broad market rally is more likely to be a sustainable one, and with just 10 appearing in today's Downtrends Scan List compared to 53 in today's Uptrends Scan List, this skew smacks of broad-based risk-seeking activity.
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 % |
|---|---|---|---|---|
Aussie Broadband | ABB | $4.50 | +16.6% | +42.0% |
Global X Battery Tech & Lithium ETF | ACDC | $97.50 | +6.8% | +16.4% |
Amplitude Energy | AEL | $0.260 | +18.2% | +13.0% |
Aspen Group | APZ | $4.05 | +6.0% | +109.8% |
Austal | ASB | $6.42 | +9.0% | +148.8% |
Betmakers Technology Group | BET | $0.155 | +55.0% | +86.7% |
Cobram Estate Olives | CBO | $2.62 | +21.9% | +57.4% |
Cash Converters International | CCV | $0.345 | +13.1% | +64.3% |
Vaneck China New Economy ETF | CNEW | $7.58 | +6.8% | +34.2% |
Coles Group | COL | $20.89 | -0.1% | +15.4% |
Corporate Travel Management | CTD | $15.82 | +7.5% | +17.7% |
Clarity Pharmaceuticals | CU6 | $4.53 | +54.1% | -28.9% |
Catalyst Metals | CYL | $5.53 | +3.4% | +212.4% |
Dyno Nobel | DNL | $2.92 | +5.8% | -1.0% |
Downer EDI | DOW | $6.90 | +7.3% | +38.3% |
Droneshield | DRO | $3.77 | +60.4% | +171.2% |
Elders | ELD | $7.30 | +11.3% | -20.7% |
Fenix Resources | FEX | $0.315 | +8.6% | -26.7% |
Fortescue | FMG | $18.25 | +11.8% | -3.3% |
GR Engineering Services | GNG | $4.08 | +24.4% | +107.1% |
Genusplus Group | GNP | $4.55 | +7.8% | +99.6% |
Hansen Technologies | HSN | $6.04 | +25.3% | +33.9% |
Hub24 | HUB | $106.77 | +16.4% | +115.4% |
Iluka Resources | ILU | $5.32 | +40.4% | -12.2% |
Iperionx | IPX | $5.99 | +33.4% | +174.8% |
JB HI-FI | JBH | $113.73 | +3.4% | +65.0% |
Lumos Diagnostics | LDX | $0.083 | +196.4% | +80.5% |
Locksley Resources | LKY | $0.185 | +150.0% | +516.7% |
Lynas Rare Earths | LYC | $11.25 | +36.0% | +79.1% |
Macmahon | MAH | $0.325 | +4.8% | +16.1% |
McMillan Shakespeare | MMS | $17.82 | +10.1% | -0.5% |
Monadelphous Group | MND | $19.39 | +12.0% | +49.5% |
Motorcycle Holdings | MTO | $3.49 | +12.9% | +183.7% |
Newmont Corporation | NEM | $97.14 | +6.8% | +31.9% |
Neuren Pharmaceuticals | NEU | $17.28 | +21.0% | -13.0% |
Navigator Global Investments | NGI | $1.935 | +9.3% | +2.7% |
Orica | ORI | $21.32 | +8.3% | +18.7% |
Pantoro | PNR | $3.79 | +17.3% | +159.2% |
Perenti | PRN | $1.775 | +10.2% | +69.0% |
Peter Warren Automotive | PWR | $1.780 | +24.5% | -5.6% |
Regis Healthcare | REG | $8.46 | +12.5% | +101.9% |
Global X Robo Global Robotics & Automation ETF | ROBO | $84.50 | +3.9% | +13.3% |
Siteminder | SDR | $5.23 | +16.2% | -6.6% |
Ricegrowers | SGLLV | $12.47 | +19.4% | +40.1% |
Telstra Group | TLS | $4.96 | +2.5% | +25.9% |
Trigg Minerals | TMG | $0.110 | +18.3% | +1275.0% |
Unibail-Rodamco-Westfield | URW | $7.48 | +5.7% | +28.3% |
Viridis Mining and Minerals | VMM | $1.120 | +138.3% | +23.1% |
Warriedar Resources | WA8 | $0.145 | +31.8% | +107.1% |
Woodside Energy Group | WDS | $26.19 | +8.9% | -5.1% |
Whitehaven Coal | WHC | $6.50 | +9.4% | -15.8% |
WIA Gold | WIA | $0.300 | +22.4% | +233.3% |
Zip Co. | ZIP | $3.20 | +4.9% | +67.5% |
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: Betmakers Technology Group (ASX: BET), Cobram Estate Olives (ASX: CBO), Coles Group (ASX: COL), Catalyst Metals (ASX: CYL), Droneshield (ASX: DRO), GR Engineering Services (ASX: GNG), Iluka Resources (ASX: ILU), JB HI-FI (ASX: JBH), Locksley Resources (ASX: LKY), Lynas Rare Earths (ASX: LYC), Newmont Corporation (ASX: NEM), Neuren Pharmaceuticals (ASX: NEU), Pantoro (ASX: PNR), Peter Warren Automotive (ASX: PWR), Siteminder (ASX: SDR), Ricegrowers (ASX: SGLLV), Trigg Minerals (ASX: TMG), Viridis Mining and Minerals (ASX: VMM), Zip Co. (ASX: ZIP).
10 Randomly chosen Feature Uptrend Charts:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Australian Clinical Labs | ACL | $2.72 | -3.9% | +7.1% |
Audinate Group | AD8 | $6.08 | -10.6% | -59.1% |
Accent Group | AX1 | $1.465 | +1.0% | -33.1% |
Boss Energy | BOE | $1.680 | -58.9% | -54.0% |
Fletcher Building | FBU | $2.66 | -6.0% | -2.9% |
Gentrack Group | GTK | $9.12 | -21.5% | -2.5% |
Ora Banda Mining | OBM | $0.645 | -12.8% | +46.6% |
Reece | REH | $13.09 | -10.1% | -52.6% |
The Star Entertainment Group | SGR | $0.085 | -34.6% | -81.1% |
Strike Energy | STX | $0.110 | -21.4% | -45.0% |
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), Accent Group (ASX: AX1), Boss Energy (ASX: BOE), Fletcher Building (ASX: FBU), Gentrack Group (ASX: GTK), Reece (ASX: REH), The Star Entertainment Group (ASX: SGR), Strike Energy (ASX: STX).
Feature Downtrend charts:
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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'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!!!
