Evening Wrap: ASX 200 finishes flat (again) after RBA surprises everyone; banks gain led by CBA, gold stocks shine
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Technical Analysis
/ChartWatch ASX Scans: Income and defensive stocks TLS, COL, HLI and WES vs Growth stocks MP1, REA TNE and XRO
Technical Analysis
ChartWatch ASX Scans: Income and defensive stocks TLS, COL, HLI and WES vs Growth stocks MP1, REA TNE and XRO
Fri 02 May 25, 9:15am (AEST)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scans: Eagers Automotive ( APE), Global Defence ETF ( ARMR), Boss Energy ( BOE), Charter Hall ( CHC), Helia ( HLI), SGH ( SGH), Smart Parking ( SPZ), Transurban ( TCL), Telstra ( TLS), Technology One ( TNE), Xero ( XRO).
- Interesting downtrends in today's Scans: Amcor ( AMC), Coronado Global Resources ( CRN), Cettire ( CTT), Liontown Resources ( LTR), The Star Entertainment Group ( SGR).
A great mix of interesting setups from a great mix of sectors in today's ChartWatch Scans. A "setup" is a term used by traders to describe the confluence of a pre-defined set of technical or fundamental factors (or a mix of both) that are required to be observed prior to a trade entry.
I have 2 distinct setups that I vend into the lists I curate for you here each day:
Continuation Setup
Turnaround Setup
Examples of Continuation Setups in today's Lists include (note: not a comprehensive listing):
Uptrends: ARMR, CHC, DBI, APE, FCL, MND, REG, SNL, TLS, TCL
Downtrends: CTT, CRN, LTR SGR
Examples of Turnaround Setups in today's Lists include (note: not a comprehensive listing):
Uptrends: BOE, CWP, ING, MP1, OML, SBM,
Downtrends: AMC
I feel it's important to have a mix of the two types of setups in one's portfolio, and of course an appropriate mix of longs and shorts based upon overall market conditions.
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 % |
African Gold | A1G | $0.135 | +12.5% | +352.6% |
The A2 Milk Company | A2M | $8.41 | +5.4% | +41.8% |
Australian Finance Group | AFG | $1.850 | +12.5% | +22.5% |
Aristocrat Leisure | ALL | $66.81 | +2.9% | +68.1% |
Eagers Automotive | APE | $18.79 | +21.7% | +47.8% |
BetaShares Global Defence ETF | ARMR | $21.30 | +6.2% | 0% |
Abacus Storage King | ASK | $1.495 | +25.6% | +31.7% |
ASX | ASX | $71.48 | +6.7% | +12.2% |
BetaShares S&P/ASX Australian Technology ETF | ATEC | $28.18 | +6.6% | +20.1% |
Bega Cheese | BGA | $5.80 | +8.2% | +38.4% |
Boss Energy | BOE | $3.40 | +38.8% | -28.9% |
Charter Hall Group | CHC | $17.40 | +4.9% | +46.7% |
Coles Group | COL | $21.49 | +9.1% | +32.1% |
Cedar Woods Properties | CWP | $6.00 | +14.3% | +31.0% |
Dalrymple Bay Infrastructure/Notes | DBI | $4.14 | +7.3% | +50.5% |
Vaneck Global Defence ETF | DFND | $31.83 | +9.2% | 0% |
Global X Defence Tech ETF | DTEC | $14.58 | +8.1% | 0% |
Fineos Corporation | FCL | $2.22 | +8.8% | +18.1% |
Helia Group | HLI | $4.96 | +21.6% | +34.5% |
Harvey Norman | HVN | $5.28 | +3.9% | +15.0% |
Intelligent Monitoring Group | IMB | $0.575 | +15.0% | +69.1% |
Imricor Medical Systems | IMR | $1.685 | +14.2% | +233.7% |
Ingenia Communities Group | INA | $5.62 | +2.2% | +20.3% |
Inghams Group | ING | $3.50 | +11.1% | -4.4% |
Kelly Partners Group | KPG | $12.00 | +8.7% | +77.0% |
Monadelphous Group | MND | $16.31 | +3.9% | +20.5% |
Megaport | MP1 | $11.71 | +16.6% | -17.0% |
Medibank Private | MPL | $4.66 | +3.3% | +29.4% |
Nick Scali | NCK | $18.16 | +12.7% | +17.9% |
OOH!Media | OML | $1.580 | +3.9% | -6.8% |
REA Group | REA | $249.16 | +9.8% | +38.4% |
Regis Healthcare | REG | $7.24 | +5.2% | +81.0% |
St Barbara | SBM | $0.300 | +20.0% | +13.2% |
SGH | SGH | $51.88 | +1.7% | +35.1% |
SKS Technologies Group | SKS | $1.925 | +1.1% | +187.3% |
Supply Network | SNL | $39.47 | +8.1% | +98.3% |
Smart Parking | SPZ | $0.920 | +19.5% | +125.2% |
Solvar | SVR | $1.660 | +18.6% | +67.7% |
Transurban Group | TCL | $14.26 | +7.1% | +13.1% |
Telstra Group | TLS | $4.54 | +7.3% | +24.0% |
Technology One | TNE | $30.82 | +8.1% | +89.5% |
Wesfarmers | WES | $78.59 | +7.8% | +19.8% |
Xero | XRO | $169.51 | +8.8% | +39.3% |
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: Eagers Automotive (ASX: APE), BetaShares Global Defence ETF (ASX: ARMR), Boss Energy (ASX: BOE), Charter Hall Group (ASX: CHC), Cedar Woods Properties (ASX: CWP), Dalrymple Bay Infrastructure/Notes (ASX: DBI), Fineos Corporation (ASX: FCL), Helia Group (ASX: HLI), Inghams Group (ASX: ING), Monadelphous Group (ASX: MND), OOH!Media (ASX: OML), Regis Healthcare (ASX: REG), SGH (ASX: SGH), Supply Network (ASX: SNL), Smart Parking (ASX: SPZ), Transurban Group (ASX: TCL), Telstra Group (ASX: TLS), Technology One (ASX: TNE), Xero (ASX: XRO).
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
29METALS | 29M | $0.115 | -34.3% | -70.6% |
Alcoa Corporation | AAI | $38.33 | -24.3% | 0% |
Amcor | AMC | $14.04 | -9.3% | +1.7% |
Appen | APX | $0.790 | -26.5% | +19.7% |
Bellevue Gold | BGL | $0.875 | -30.0% | -54.8% |
Coronado Global Resources | CRN | $0.175 | -49.3% | -85.6% |
Cettire | CTT | $0.430 | -50.6% | -85.8% |
EBR Systems | EBR | $1.175 | -34.4% | +30.8% |
Electro Optic Systems | EOS | $1.175 | -16.1% | -32.7% |
Firefly Metals | FFM | $0.775 | -24.8% | +8.4% |
Horizon Oil | HZN | $0.180 | -16.3% | +2.9% |
Judo Capital | JDO | $1.480 | -20.9% | +10.9% |
Liontown Resources | LTR | $0.500 | -23.7% | -58.7% |
The Star Entertainment Group | SGR | $0.100 | -20.0% | -81.8% |
Today's Downtrends Scan List
Charts of each below:
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.
Carl has over 30-year's 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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