Technical Analysis

ChartWatch ASX Scans: Goodman, Neuren Pharma, News Corp, Audinate, Bluescope, Coronado, Domino's, Wildcat Resources

Tue 28 May 24, 10:05am (AEST)
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Key Points

  • Interesting uptrends in today's Scan Lists include: Goodman Group (GMG), Neuren Pharmaceuticals (NEU), News Corporation (NWS), and Pinnacle Investment Management Group (PNI)
  • Interesting downtrends in today's Scan Lists include: Audinate Group (AD8), Bluescope Steel (BSL), Coronado Global Resources Inc. (CRN), and Wildcat Resources (WC8)

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 List

Company

Code

Last Price

1mo %

1yr %

AIC Mines

A1M

$0.555

+22.0%

+40.5%

The A2 Milk Company

A2M

$7.28

+23.0%

+35.8%

AGL Energy

AGL

$10.48

+11.8%

+17.0%

ALS

ALQ

$14.22

+8.8%

+14.7%

Amcor

AMC

$15.07

+9.8%

-1.2%

Austin Engineering

ANG

$0.550

+13.4%

+96.4%

Arena Reit.

ARF

$3.85

+9.1%

+4.6%

Austal

ASB

$2.45

+8.4%

+22.5%

BetaShares Asia Technology Tigers ETF

ASIA

$9.01

+6.0%

+28.5%

Bendigo and Adelaide Bank

BEN

$10.97

+13.1%

+25.7%

BHP Group

BHP

$45.15

+4.6%

+5.4%

Bisalloy Steel Group

BIS

$3.86

+15.6%

+113.7%

Catapult Group International

CAT

$1.570

+5.4%

+95.0%

Centaurus Metals

CTM

$0.515

+28.8%

-28.0%

Clarity Pharmaceuticals

CU6

$4.46

+76.3%

+543.7%

Catalyst Metals

CYL

$1.140

+27.4%

+48.1%

Devex Resources

DEV

$0.425

+49.1%

+18.1%

Droneshield

DRO

$0.960

+15.7%

+236.8%

Diversified United Investment

DUI

$5.10

+2.8%

+3.4%

Dimerix

DXB

$0.425

+32.8%

+490.3%

Emerald Resources

EMR

$3.78

+10.9%

+90.4%

Goodman Group

GMG

$34.45

+11.8%

+71.4%

Graincorp

GNC

$8.64

+4.5%

+16.1%

Helia Group

HLI

$4.13

+3.3%

+30.3%

Ingenia Communities Group

INA

$4.93

+8.6%

+14.4%

Lovisa Holdings

LOV

$32.90

+8.3%

+49.3%

L1 Long Short Fund

LSF

$3.13

+5.0%

+9.4%

Lycopodium

LYL

$12.63

+5.8%

+24.8%

Macmahon Holdings

MAH

$0.285

+14.0%

+128.0%

Munro Climate Change Leaders Fund ETF

MCCL

$15.19

+11.3%

+64.4%

Mitre Mining Corporation

MMC

$0.770

+48.1%

+161.0%

Mystate

MYS

$3.64

+2.8%

+8.0%

Neuren Pharmaceuticals

NEU

$23.97

+24.2%

+65.4%

Navigator Global Investments

NGI

$1.840

+4.5%

+96.2%

News Corporation

NWS

$41.64

+8.4%

+48.8%

OFX Group

OFX

$2.11

+33.1%

+19.5%

Pinnacle Investment Management Group

PNI

$13.39

+21.7%

+50.8%

Pantoro

PNR

$0.090

+5.9%

+18.4%

Perseus Mining

PRU

$2.48

+6.9%

+26.9%

Rincon Resources

RCR

$0.125

+177.8%

+31.6%

Regal Investment Fund

RF1

$3.31

+5.8%

+20.8%

Rpmglobal Holdings

RUL

$2.64

+11.4%

+98.5%

Global X Semiconductor ETF

SEMI

$17.65

+11.6%

+69.7%

Superloop

SLC

$1.435

+7.9%

+126.0%

Silver Lake Resources

SLR

$1.585

+10.1%

+48.1%

Seven Group Holdings

SVW

$39.80

+3.8%

+64.8%

Southern Cross Gold

SXG

$3.00

+30.4%

+450.7%

VGI Partners Global Investments

VG1

$1.910

+5.2%

+20.5%

Xero

XRO

$134.07

+11.5%

+23.3%

Yancoal Australia

YAL

$6.42

+17.6%

+26.4%

Today's uptrends List

Interesting charts from today's Uptrends List πŸ”ŽπŸ“ˆ

The stocks that I feel are showing the strongest excess demand from today's Uptrends List are: The A2 Milk Company (ASX: A2M), Centaurus Metals (ASX: CTM), Catalyst Metals (ASX: CYL), Devex Resources (ASX: DEV), Dimerix (ASX: DXB), Goodman Group (ASX: GMG), Munro Climate Change Leaders Fund ETF (ASX: MCC), Neuren Pharmaceuticals (ASX: NEU), Navigator Global Investments (ASX: NGI), News Corporation (ASX: NWS), OFX Group (ASX: OFX), Pinnacle Investment Management Group (ASX: PNI), Perseus Mining (ASX: PRU), Rincon Resources (ASX: RCR), Regal Investment Fund (ASX: RF1), Superloop (ASX: SLC), Silver Lake Resources (ASX: SLR), VGI Partners Global Investments (ASX: VG1), and Yancoal Australia (ASX: YAL).

Charts of each below:

The A2 Milk Company (ASX-A2M) chart 27 May 2024Centaurus Metals (ASX-CTM) chart 27 May 2024Catalyst Metals (ASX-CYL) chart 27 May 2024Devex Resources (ASX-DEV) chart 27 May 2024Dimerix (ASX-DXB) chart 27 May 2024Goodman Group (ASX-GMG) chart 27 May 2024Munro Climate Change Leaders Fund ETF (ASX-MCC) chart 27 May 2024Neuren Pharmaceuticals (ASX-NEU) chart 27 May 2024Navigator Global Investments (ASX-NGI) chart 27 May 2024News Corporation (ASX-NWS) chart 27 May 2024OFX Group (ASX-OFX) chart 27 May 2024Pinnacle Investment Management Group (ASX-PNI) chart 27 May 2024Perseus Mining (ASX-PRU) chart 27 May 2024Rincon Resources (ASX-RCR) chart 27 May 2024Regal Investment Fund (ASX-RF1) chart 27 May 2024Superloop (ASX-SLC) chart 27 May 2024Silver Lake Resources (ASX-SLR) chart 27 May 2024VGI Partners Global Investments (ASX-VG1) chart 27 May 2024Yancoal Australia (ASX-YAL) chart 27 May 2024

Downtrends List

Company

Code

Last Price

1mo %

1yr %

Audinate Group

AD8

$15.98

-14.1%

+78.3%

Bluescope Steel

BSL

$21.22

-6.2%

+11.7%

Credit Corp Group

CCP

$14.07

-15.4%

-16.9%

Coronado Global Resources Inc.

CRN

$1.115

-5.1%

-19.2%

Core Lithium

CXO

$0.140

-3.4%

-86.8%

De Grey Mining

DEG

$1.105

-13.1%

-19.0%

Domino's Pizza Enterprises

DMP

$37.01

-2.9%

-23.4%

Data#3

DTL

$7.43

-3.1%

+5.5%

IGO

IGO

$7.25

+2.0%

-49.6%

Iluka Resources

ILU

$7.26

-0.7%

-35.8%

James Hardie Industries

JHX

$47.41

-13.6%

+26.2%

Mayne Pharma Group

MYX

$5.16

-25.5%

+43.3%

Novonix

NVX

$0.790

-5.4%

-14.6%

Seek

SEK

$22.23

-7.5%

-8.5%

Sims

SGM

$10.87

-7.6%

-25.2%

Sonic Healthcare

SHL

$24.48

-7.1%

-29.3%

Spark New Zealand

SPK

$3.83

-9.9%

-21.8%

Terracom

TER

$0.220

-18.5%

-65.4%

Weebit Nano

WBT

$2.28

-22.4%

-58.7%

Wildcat Resources

WC8

$0.475

-2.1%

+691.7%

Today's downtrends list

Interesting charts from today's Downtrends List πŸ”ŽπŸ“‰

The stocks that I feel are showing the strongest excess supply from today's Downtrends List are: Audinate Group (ASX: AD8), Bluescope Steel (ASX: BSL), Credit Corp Group (ASX: CCP), Coronado Global Resources Inc. (ASX: CRN), Core Lithium (ASX: CXO), De Grey Mining (ASX: DEG), Domino's Pizza Enterprises (ASX: DMP), Data#3 (ASX: DTL), IGO (ASX: IGO), Iluka Resources (ASX: ILU), James Hardie Industries (ASX: JHX), Mayne Pharma Group (ASX: MYX), Novonix (ASX: NVX), Seek (ASX: SEK), Sims (ASX: SGM), Sonic Healthcare (ASX: SHL), Spark New Zealand (ASX: SPK), Terracom (ASX: TER), Weebit Nano (ASX: WBT), Wildcat Resources (ASX: WC8).

Charts of each below:

Audinate Group (ASX-AD8) chart 27 May 2024Bluescope Steel (ASX-BSL) chart 27 May 2024Coronado Global Resources Inc. (ASX-CRN) chart 27 May 2024Core Lithium (ASX-CXO) chart 27 May 2024Mayne Pharma Group (ASX-MYX) chart 27 May 2024Novonix (ASX-NVX) chart 27 May 2024Sims (ASX-SGM) chart 27 May 2024Spark New Zealand (ASX-SPK) chart 27 May 2024Weebit Nano (ASX-WBT) chart 27 May 2024Wildcat Resources (ASX-WC8) chart 27 May 2024

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.

 

Written By

Carl Capolingua

Content Editor

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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