ChartWatch ASX Scans: Gold stocks CYL, DEG, GOR, NST and RRL keep rising while AD8, MIN and SWM keep falling
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: Austal (ASB), Capricorn Metals (CMM), Catalyst Metals (CYL), De Grey Mining (DEG), Gold Road Resources (GOR), Northern Star Resources (NST), Regis Resources (RRL), Telstra Group (TLS).
- Interesting downtrends in today's Scans: Bapcor (BAP), Chalice Mining (CHN), DUG Technology (DUG), Iperionx (IPX), Mineral Resources (MIN), Seven West Media (SWM), Syrah Resources (SYR), WA1 Resources (WA1).
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'd have to be viewed as having a pretty terrible outlook if your stock price continued to fall on Tuesday. After all, there was a near-unanimous and resounding 166 point gain on the benchmark S&P/ASX 200.
So then, who missed out? Who, despite the suddenly renewed appetite for ASX shares, continued to be shunned?
Well, I present you Bapcor (BAP), DUG Technology (DUG), Mineral Resources (MIN), and once-market darling WA1 Resources (WA1).
On the other hand, there were a bunch of stocks that pretty much have gone up through the thick and thin of this brutal correction – and therefore are more likely to be made of the "right stuff".
Here, I note the likes of gold miners Catalyst Metals (CYL), Capricorn Metals (CMM), De Grey Mining (DEG), Gold Road Resources (GOR), Northern Star Resources (NST), Regis Resources (RRL), but also the near-invincible Austal (ASB) and Telstra Group (TLS).
Is it fair to say that your job is also to identify and weed out those most likely to fail, and to embrace those most likely to succeed? 🤔
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 % |
|---|---|---|---|---|
African Gold | A1G | $0.105 | +66.7% | +242.2% |
Austal | ASB | $4.38 | -0.5% | +91.3% |
Capricorn Metals | CMM | $8.51 | +11.0% | +55.0% |
Catalyst Metals | CYL | $5.98 | +42.7% | +713.6% |
De Grey Mining | DEG | $2.27 | +12.9% | +75.9% |
Gold Road Resources | GOR | $3.07 | +18.5% | +79.0% |
Northern Star Resources | NST | $19.52 | +13.0% | +28.7% |
Regis Resources | RRL | $4.22 | +27.9% | +100.0% |
Select Harvests | SHV | $5.11 | +10.8% | +21.8% |
Sigma Healthcare | SIG | $2.97 | +2.8% | +151.7% |
Spartan Resources | SPR | $1.860 | +23.2% | +181.5% |
Telstra Group | TLS | $4.33 | +5.4% | +13.6% |
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: Austal (ASX: ASB), Capricorn Metals (ASX: CMM), Catalyst Metals (ASX: CYL), De Grey Mining (ASX: DEG), Gold Road Resources (ASX: GOR), Northern Star Resources (ASX: NST), Regis Resources (ASX: RRL), Telstra Group (ASX: TLS).
Charts of each below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
29METALS | 29M | $0.115 | -32.4% | -75.6% |
Audinate Group | AD8 | $5.64 | -24.4% | -72.8% |
Bapcor | BAP | $4.27 | -15.8% | -30.3% |
Chrysos Corporation | C79 | $3.60 | -24.5% | -45.8% |
Chalice Mining | CHN | $0.905 | -33.9% | -22.7% |
Coronado Global Resources | CRN | $0.260 | -50.5% | -77.4% |
Clarity Pharmaceuticals | CU6 | $1.540 | -44.4% | -45.0% |
DUG Technology | DUG | $0.890 | -24.9% | -66.9% |
HMC Capital | HMC | $4.78 | -41.2% | -29.4% |
Infomedia | IFM | $1.200 | -8.0% | -30.0% |
Iperionx | IPX | $2.19 | -33.8% | -3.1% |
Johns Lyng Group | JLG | $2.02 | -17.6% | -67.5% |
Kelsian Group | KLS | $2.35 | -24.7% | -58.0% |
Metals Acquisition | MAC | $13.64 | -12.8% | -33.8% |
Mineral Resources | MIN | $16.38 | -24.8% | -76.8% |
Paladin Energy | PDN | $4.21 | -34.2% | -70.4% |
Pepper Money | PPM | $1.310 | -11.8% | -19.1% |
Perpetual | PPT | $16.58 | -13.5% | -34.4% |
Seven West Media | SWM | $0.135 | -12.9% | -28.9% |
Syrah Resources | SYR | $0.200 | -16.7% | -61.9% |
WA1 Resources | WA1 | $10.80 | -11.1% | -25.2% |
Weebit Nano | WBT | $1.515 | -21.9% | -51.3% |
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: Bapcor (ASX: BAP), Chalice Mining (ASX: CHN), DUG Technology (ASX: DUG), Iperionx (ASX: IPX), Mineral Resources (ASX: MIN), Seven West Media (ASX: SWM), Syrah Resources (ASX: SYR), WA1 Resources (ASX: WA1).
Charts of each below:
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ChartWatch Primer
For a detailed explanation of Carl's technical analysis methodology, be sure to check out this ChartWatch Primer.
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 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.
