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: Global Data Centre, Pro Medicus, Regis Healthcare, Boss Energy, Mineral Resources, Novonix, Pilbara Minerals
Technical Analysis
ChartWatch ASX Scans: Global Data Centre, Pro Medicus, Regis Healthcare, Boss Energy, Mineral Resources, Novonix, Pilbara Minerals
Wed 04 Sep 24, 9:00am (AEDT)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scans: Australian Clinical Labs (ACL), ANZ (ANZ), Bega (BGA), Breville (BRG), Commonwealth Bank (CBA), Global Data Centre (GDC), JB HI-FI (JBH), Macquarie (MQG), Pro Medicus (PME), Resmed Inc (RMD), Technology One (TNE)
- Interesting downtrends in today's Scans: Bannerman Energy (BMN), Boss Energy (BOE), Deterra (DRR), IGO (IGO), Arcadium Lithium (LTM), Liontown Resources (LTR), Mineral Resources (MIN), Paladin Energy (PDN), Pilbara Minerals (PLS), Whitehaven Coal (WHC)
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 % |
BetaShares Australia 200 ETF | A200 | $135.92 | +6.5% | +11.2% |
Australian Clinical Labs | ACL | $3.27 | +33.5% | +10.8% |
AGL Energy | AGL | $11.70 | +13.7% | +5.5% |
AI-Media Technologies | AIM | $0.570 | +40.7% | +115.1% |
Amcor | AMC | $16.92 | +6.2% | +12.1% |
AMP | AMP | $1.305 | +17.0% | +3.2% |
ANZ Group | ANZ | $30.95 | +12.8% | +22.2% |
Black Cat Syndicate | BC8 | $0.380 | +13.4% | +43.4% |
Bega Cheese | BGA | $5.02 | +21.0% | +66.8% |
Biome Australia | BIO | $0.720 | +53.2% | +476.0% |
Breville Group | BRG | $34.05 | +22.7% | +38.4% |
Brambles | BXB | $18.17 | +25.0% | +21.4% |
Capitol Health | CAJ | $0.320 | +8.5% | +42.2% |
Commonwealth Bank of Australia | CBA | $143.38 | +14.8% | +40.3% |
BetaShares Global Cash Flow Kings ETF | CFLO | $17.10 | +3.1% | 0% |
Dusk Group | DSK | $1.175 | +35.1% | +15.8% |
BetaShares Australian Sustainability Leaders ETF | FAIR | $20.71 | +9.2% | +11.8% |
Global Data Centre Group | GDC | $3.50 | +7.7% | +99.4% |
Generation Development Group | GDG | $2.88 | +16.6% | +136.7% |
GPT Group | GPT | $4.98 | +12.2% | +18.6% |
BetaShares Global Cybersecurity ETF | HACK | $11.99 | +10.9% | +21.7% |
Hub24 | HUB | $55.39 | +17.8% | +71.6% |
Insurance Australia Group | IAG | $7.72 | +11.1% | +32.6% |
IVE Group | IGL | $2.28 | +8.1% | +8.6% |
iShares Global Consumer Staples ETF | IXI | $95.66 | -1.2% | +3.0% |
iShares Global Healthcare ETF | IXJ | $148.81 | +0.6% | +12.6% |
JB HI-FI | JBH | $81.45 | +26.2% | +80.2% |
Judo Capital | JDO | $1.675 | +33.5% | +82.1% |
Light & Wonder | LNW | $163.50 | +6.8% | +37.7% |
MFF Capital Investments | MFF | $3.91 | +5.1% | +31.2% |
Magellan Global Fund (Open Class) ETF | MGOC | $3.14 | +3.3% | +15.9% |
Macquarie Group | MQG | $219.81 | +12.3% | +23.8% |
Vaneck Australian Property ETF | MVA | $23.58 | +8.4% | +12.5% |
Vaneck Australian Banks ETF | MVB | $38.53 | +13.8% | +31.8% |
National Australia Bank | NAB | $38.92 | +11.8% | +34.4% |
Newmont Corporation | NEM | $78.38 | +4.9% | 0% |
Propel Funeral Partners | PFP | $6.10 | +6.3% | +38.0% |
Pro Medicus | PME | $152.11 | +16.2% | +107.5% |
Premier Investments | PMV | $35.66 | +15.5% | +38.8% |
Regis Healthcare | REG | $5.41 | +37.0% | +113.0% |
Resmed Inc | RMD | $36.20 | +10.6% | +42.0% |
Scentre Group | SCG | $3.47 | +4.5% | +26.2% |
Stockland | SGP | $5.08 | +15.7% | +19.8% |
Suncorp Group | SUN | $18.06 | +11.5% | +32.5% |
Technology One | TNE | $23.18 | +14.2% | +50.7% |
Temple & Webster Group | TPW | $11.86 | +24.8% | +64.7% |
Tyro Payments | TYR | $1.060 | +22.5% | -25.1% |
Unibail-Rodamco-Westfield | URW | $6.04 | +9.6% | +48.0% |
Westpac Banking Corporation | WBC | $31.81 | +14.9% | +45.7% |
Waypoint Reit | WPR | $2.69 | +8.5% | +7.6% |
Wisetech Global | WTC | $124.38 | +47.6% | +79.0% |
Xero | XRO | $144.70 | +13.0% | +15.7% |
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: Australian Clinical Labs (ASX: ACL), Amcor (ASX: AMC), ANZ Group (ASX: ANZ), Bega Cheese (ASX: BGA), Breville Group (ASX: BRG), Commonwealth Bank of Australia (ASX: CBA), Global Data Centre Group (ASX: GDC), Generation Development Group (ASX: GDG), Insurance Australia Group (ASX: IAG), iShares Global Healthcare ETF (ASX: IXJ), JB HI-FI (ASX: JBH), Macquarie Group (ASX: MQG), National Australia Bank (ASX: NAB), Pro Medicus (ASX: PME), Premier Investments (ASX: PMV), Regis Healthcare (ASX: REG), Resmed Inc (ASX: RMD), Technology One (ASX: TNE), Westpac Banking Corporation (ASX: WBC), Wisetech Global (ASX: WTC), Xero (ASX: XRO).
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
The A2 Milk Company | A2M | $5.53 | -18.6% | +21.5% |
APA Group | APA | $7.39 | -6.3% | -17.8% |
BHP Group | BHP | $39.63 | -3.6% | -11.6% |
Bannerman Energy | BMN | $2.19 | -5.2% | +12.0% |
Boss Energy | BOE | $2.70 | -8.2% | -19.9% |
Brainchip | BRN | $0.160 | -5.9% | -41.8% |
Coronado Global Resources | CRN | $1.120 | -12.5% | -29.1% |
Core Lithium | CXO | $0.090 | -1.1% | -77.2% |
Deterra Royalties | DRR | $3.60 | -6.7% | -19.1% |
Endeavour Group | EDV | $5.10 | -4.0% | -7.3% |
Fortescue | FMG | $17.70 | -3.8% | -17.4% |
IGO | IGO | $5.16 | +2.6% | -62.5% |
Inghams Group | ING | $3.10 | -13.6% | -10.9% |
Lifestyle Communities | LIC | $7.66 | -10.2% | -56.1% |
Lotus Resources | LOT | $0.225 | -6.3% | 0% |
Arcadium Lithium | LTM | $3.80 | -7.5% | 0% |
Liontown Resources | LTR | $0.650 | -25.3% | -76.4% |
Macquarie Technology Group | MAQ | $78.46 | -8.6% | +18.5% |
Meteoric Resources | MEI | $0.095 | +1.1% | -51.3% |
Mineral Resources | MIN | $36.17 | -30.4% | -49.4% |
Megaport | MP1 | $8.12 | -20.9% | -32.6% |
Metcash | MTS | $3.56 | +0.6% | -3.3% |
Neuren Pharmaceuticals | NEU | $14.07 | -26.7% | +14.7% |
New Hope Corporation | NHC | $4.42 | -7.5% | -20.4% |
NIB | NHF | $6.21 | -11.5% | -25.4% |
Nickel Industries | NIC | $0.790 | +1.3% | -0.6% |
Nufarm | NUF | $3.87 | -11.8% | -25.4% |
Novonix | NVX | $0.570 | -8.1% | -48.4% |
OOH!Media | OML | $1.255 | -11.9% | -14.0% |
Paladin Energy | PDN | $9.31 | -3.4% | +10.8% |
Pilbara Minerals | PLS | $2.75 | -2.8% | -41.1% |
Red 5 | RED | $0.305 | -15.3% | +24.5% |
Rio Tinto | RIO | $108.12 | -8.9% | -4.2% |
Skycity Entertainment Group | SKC | $1.310 | -8.1% | -39.9% |
Stanmore Resources | SMR | $2.87 | -14.3% | +1.2% |
Spark New Zealand | SPK | $3.31 | -17.7% | -29.1% |
Sayona Mining | SYA | $0.025 | -10.7% | -77.3% |
Syrah Resources | SYR | $0.220 | -8.3% | -58.8% |
Tabcorp | TAH | $0.405 | -30.2% | -63.0% |
Terracom | TER | $0.160 | -11.1% | -66.3% |
Vulcan Energy Resources | VUL | $3.77 | -1.8% | +10.6% |
Weebit Nano | WBT | $2.00 | 0% | -49.7% |
Wildcat Resources | WC8 | $0.265 | +23.3% | -20.9% |
Webjet | WEB | $7.52 | -9.4% | +7.7% |
Whitehaven Coal | WHC | $6.53 | -11.0% | +7.2% |
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: APA Group (ASX: APA), Bannerman Energy (ASX: BMN), Boss Energy (ASX: BOE), Deterra Royalties (ASX: DRR), IGO (ASX: IGO), Lifestyle Communities (ASX: LIC), Arcadium Lithium (ASX: LTM), Liontown Resources (ASX: LTR), Mineral Resources (ASX: MIN), Neuren Pharmaceuticals (ASX: NEU), New Hope Corporation (ASX: NHC), Nufarm (ASX: NUF), Novonix (ASX: NVX), Paladin Energy (ASX: PDN), Pilbara Minerals (ASX: PLS), Whitehaven Coal (ASX: WHC).
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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