ChartWatch ASX Scans: Goodman Group, Pro Medicus, QBE Insurance, Resmed, Sonic Healthcare, Wisetech Global, Xero
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: Autosports (ASG), Artrya (AYA), Chrysos (C79), CZR Resources (CZR), Flexiroam (FRX), GR Engineering (GNG), Genusplus (GNP), IVE (IGL), Kingsgate (KCN), Macmahon (MAH), Symal Group (SYL), Westpac (WBC), Wagners (WGN).
- Aristocrat (ALL), Appen (APX), Credit Corp (CCP), Elders (ELD), G8 Education (GEM), Goodman (GMG), GQG (GQG), Inghams (ING), Pro Medicus (PME), QBE Insurance (QBE), Sonic Healthcare (SHL), Treasury Wine Estates (TWE), Wisetech Global (WTC), Xero (XRO).
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Yesterday we lamented the deterioration in the number of stocks appearing in the Uptrends Scan List, however, as is usually the case for trend followers – this coincided with the positive of a burgeoning Downtrends Scan List.
That's a positive for two reasons:
Many like to use the Downtrends Scan List as a guide to which stocks to reduce their risk exposure to (everyone has an idea of what you should to buy... but few can tell you clearly when it might be time to sell!)
Traders who embrace the fact that stocks go up and down take out short positions – therefore profiting from the falling prices of the stocks in the Downtrends Scan List.
The trend towards an abundance of possible short setups over long setups has continued today – with the greatest skew towards Downtrends Scan List constituents over Uptrends Scan List constituents since 3 September at 29 to 48. As far as feature charts go, it was a similar ratio at 15 to 24. If one has the ability to trade both directions, then really, there is no diminution in opportunity at all!
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 % |
|---|---|---|---|---|
AIC Mines | A1M | $0.480 | +14.3% | +35.2% |
The A2 Milk Company | A2M | $9.60 | +9.0% | +66.4% |
Acusensus | ACE | $2.08 | +48.6% | +131.1% |
Aroa Biosurgery | ARX | $0.795 | +20.5% | +29.3% |
Autosports Group | ASG | $4.33 | +34.5% | +92.4% |
Artrya | AYA | $3.41 | +42.1% | +657.8% |
Chrysos Corp. | C79 | $9.20 | +17.6% | +69.1% |
Caprice Resources | CRS | $0.145 | 0% | +417.9% |
Core Lithium | CXO | $0.135 | +28.6% | +17.4% |
CZR Resources | CZR | $0.405 | +50.0% | +58.8% |
Elevra Lithium | ELV | $4.57 | +25.5% | -13.0% |
Focus Minerals | FML | $2.56 | +39.1% | +1322.2% |
Flexiroam | FRX | $0.025 | +177.8% | +36.4% |
Gateway Mining | GML | $0.092 | +26.0% | +318.2% |
GR Engineering Services | GNG | $3.93 | +2.6% | +86.3% |
Genusplus Group | GNP | $6.94 | +19.7% | +195.3% |
IVE Group | IGL | $3.04 | +10.5% | +42.7% |
Kingsgate Consolidated | KCN | $4.32 | +12.2% | +170.0% |
Lakes Blue Energy | LKO | $1.520 | +31.6% | +52.0% |
Macmahon Holdings | MAH | $0.495 | +13.8% | +30.3% |
Metals X | MLX | $0.865 | +3.0% | +78.4% |
Mayfield Group Holdings | MYG | $1.940 | +32.4% | +155.4% |
Navigator Global Investments | NGI | $2.89 | +33.8% | +68.0% |
Nyrada | NYR | $0.890 | +182.5% | +584.6% |
Regal Asian Investments | RG8 | $2.48 | +2.5% | +12.7% |
Symal Group | SYL | $2.46 | +23.6% | 0% |
Toro Energy | TOE | $0.485 | +36.6% | +54.0% |
Westpac Banking Corp. | WBC | $40.42 | +2.7% | +25.8% |
Wagners Holding Company | WGN | $3.11 | +18.7% | +135.6% |
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: Autosports Group (ASX: ASG), Artrya (ASX: AYA), Chrysos Corp. (ASX: C79), CZR Resources (ASX: CZR), Flexiroam(ASX: FRX), Gateway Mining (ASX: GML), GR Engineering Services (ASX: GNG), Genusplus Group (ASX: GNP), IVE Group (ASX: IGL), Kingsgate Consolidated (ASX: KCN), Macmahon Holdings (ASX: MAH), Navigator Global Investments (ASX: NGI), Symal Group (ASX: SYL), Westpac Banking Corp. (ASX: WBC), Wagners Holding Company (ASX: WGN).
10 Randomly chosen Feature Uptrend Charts:
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Downtrends Scan List 📉
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Amaero | 3DA | $0.245 | -30.0% | -24.6% |
Adairs | ADH | $1.985 | -22.2% | -25.4% |
AGL Energy | AGL | $8.78 | -2.7% | -16.2% |
Aristocrat Leisure | ALL | $63.05 | -9.8% | +2.5% |
Amcor PLC | AMC | $12.02 | -2.6% | -28.2% |
Amotiv | AOV | $8.74 | -0.3% | -17.9% |
Appen | APX | $0.740 | -16.4% | -63.2% |
ARB Corp. | ARB | $35.60 | -8.3% | -13.1% |
Accent Group | AX1 | $1.245 | -8.1% | -47.2% |
Breville Group | BRG | $28.96 | -2.3% | -8.9% |
Car Group | CAR | $34.73 | -9.3% | -8.1% |
Credit Corp Group | CCP | $14.07 | -6.5% | -19.0% |
Cochlear | COH | $280.68 | -1.4% | -0.9% |
Computershare | CPU | $36.36 | +0.2% | +37.8% |
Ebos Group | EBO | $24.97 | -4.1% | -24.8% |
Elders | ELD | $6.79 | -8.0% | -20.6% |
Findi | FND | $1.975 | -37.5% | -65.7% |
G8 Education | GEM | $0.700 | -16.7% | -47.8% |
Goodman Group | GMG | $32.33 | -4.7% | -11.9% |
GQG Partners | GQG | $1.475 | -14.2% | -47.1% |
Gentrack Group | GTK | $7.76 | -8.8% | -15.3% |
Insurance Australia Group | IAG | $7.76 | -6.5% | +3.5% |
Inghams Group | ING | $2.39 | -4.8% | -16.7% |
IPD Group | IPG | $3.45 | -12.0% | -25.3% |
James Hardie Industries | JHX | $30.47 | -1.3% | -37.6% |
Lindsay Australia | LAU | $0.600 | -4.0% | -29.4% |
Magnetic Resources | MAU | $1.220 | -24.0% | -2.4% |
Metal Powder Works | MPW | $2.70 | -22.0% | -48.1% |
Myer Holdings | MYR | $0.395 | -18.6% | -55.2% |
Nickel Industries | NIC | $0.700 | -9.1% | -22.7% |
Native Mineral Resources | NMR | $0.089 | -19.1% | +169.7% |
News Corp. Class B | NWS | $45.76 | -5.9% | +3.1% |
OFX Group | OFX | $0.590 | -32.2% | -59.6% |
Pro Medicus | PME | $258.28 | -15.1% | +32.6% |
Premier Investments | PMV | $17.66 | -8.3% | -31.0% |
QBE Insurance Group | QBE | $19.48 | -7.8% | +13.2% |
REA Group | REA | $212.26 | -7.2% | -6.5% |
Reece | REH | $11.35 | -2.4% | -50.2% |
Resmed Inc | RMD | $37.77 | -10.3% | +2.3% |
SGH | SGH | $47.34 | -7.1% | +13.5% |
Sonic Healthcare | SHL | $20.78 | -4.0% | -22.8% |
Washington H. Soul Pattinson | SOL | $37.41 | -3.5% | +11.8% |
Suncorp Group | SUN | $19.13 | -6.6% | +8.3% |
Sovereign Metals | SVM | $0.605 | -11.0% | -14.8% |
Treasury Wine Estates | TWE | $5.83 | -13.9% | -48.5% |
Web Travel Group | WEB | $4.12 | +1.7% | +3.0% |
Wisetech Global | WTC | $68.51 | -22.4% | -41.0% |
Xero | XRO | $145.98 | -7.4% | -2.7% |
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: Adairs (ASX: ADH), Aristocrat Leisure (ASX: ALL), Amcor PLC (ASX: AMC), Appen (ASX: APX), Car Group (ASX: CAR), Credit Corp Group (ASX: CCP), Elders (ASX: ELD), G8 Education (ASX: GEM), Goodman Group (ASX: GMG), GQG Partners (ASX: GQG), Inghams Group (ASX: ING), IPD Group (ASX: IPG), James Hardie Industries (ASX: JHX), News Corp. Class B (ASX: NWS), Pro Medicus (ASX: PME), Premier Investments (ASX: PMV), QBE Insurance Group (ASX: QBE), REA Group (ASX: REA), Sonic Healthcare (ASX: SHL), Washington H. Soul Pattinson (ASX: SOL), Sovereign Metals (ASX: SVM), Treasury Wine Estates (ASX: TWE), Wisetech Global (ASX: WTC), 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 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!!!
