Technical Analysis

ChartWatch ASX Scans: Light & Wonder, Macquarie, Origin Energy, REA, Novonix, Kogan.Com, Ramsay Health Care

Mon 24 Jun 24, 9:00am (AEST)
charts charting technical analysis
Source: Shutterstock

Key Points

  • Interesting uptrends in today's Scan Lists: Botanix Pharma. (BOT), Goodman (GMG), Harvey Norman (HVN), Light & Wonder (LNW), Macquarie (MQG), NRW (NWH), Netwealth (NWL), Origin Energy (ORG), REA (REA), Rex Minerals (RXM), and Telix Pharma. (TLX)
  • Interesting downtrends in today's Scan Lists: Champion Iron (CIA), Collins Foods (CKF), Inghams Group (ING), Iress (IRE), Kogan.Com (KGN), Kelsian Group (KLS), Novonix (NVX), Patriot Battery Metals (PMT), and Ramsay Health Care (RHC)

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 %

Argenica Therapeutics

AGN

$0.830

+13.7%

+100.0%

Ansell

ANN

$26.54

+5.3%

+0.7%

Arena Reit.

ARF

$3.97

+4.2%

+1.8%

Accent Group

AX1

$2.04

+16.6%

+23.3%

Bisalloy Steel Group

BIS

$3.99

+4.5%

+124.5%

Botanix Pharmaceuticals

BOT

$0.360

+26.3%

+278.9%

Commonwealth Bank of Australia

CBA

$127.68

+5.1%

+25.6%

Codan

CDA

$11.34

+7.5%

+44.5%

Cooper Energy

COE

$0.235

+9.3%

+56.7%

Catalyst Metals

CYL

$1.075

-3.6%

+36.9%

Diversified United Investment

DUI

$5.25

+4.0%

+6.7%

Emeco

EHL

$0.770

+6.2%

+14.9%

Energy One

EOL

$4.80

+14.3%

+70.0%

Global Data Centre Group

GDC

$3.24

+15.3%

+94.6%

Generation Development Group

GDG

$2.37

+7.3%

+84.5%

Goodman Group

GMG

$35.88

+5.7%

+73.1%

GQG Partners

GQG

$2.74

+8.7%

+89.6%

Gentrack Group

GTK

$9.45

+9.9%

+150.0%

Hotel Property Investments

HPI

$3.47

+5.2%

+4.8%

Hub24

HUB

$45.27

+7.1%

+69.1%

Harvey Norman

HVN

$4.58

+6.0%

+38.0%

Light & Wonder

LNW

$152.18

+5.2%

+53.0%

L1 Long Short Fund

LSF

$3.19

+1.6%

+13.1%

Macmahon

MAH

$0.290

+5.5%

+123.1%

Macquarie Group

MQG

$199.03

+1.7%

+7.5%

Vaneck Australian Banks ETF

MVB

$35.21

+2.4%

+20.4%

National Australia Bank

NAB

$36.21

+4.1%

+36.6%

NRW

NWH

$3.14

+12.5%

+33.1%

Netwealth Group

NWL

$21.83

+6.8%

+54.7%

OFX Group

OFX

$2.20

+10.0%

+12.2%

Origin Energy

ORG

$10.76

+5.9%

+27.3%

Paragon Care

PGC

$0.420

+13.5%

+78.7%

Plenti Group

PLT

$0.800

+17.6%

+100.0%

Pro Medicus

PME

$140.49

+22.4%

+101.2%

Pinnacle Investment Management

PNI

$14.04

+8.4%

+44.6%

PYC Therapeutics

PYC

$0.135

+28.6%

+148.4%

Redox

RDX

$3.20

-0.6%

0%

REA Group

REA

$196.42

+4.0%

+43.1%

Regal Investment Fund

RF1

$3.29

+2.8%

+18.8%

Rex Minerals

RXM

$0.280

+3.7%

+17.6%

SG Fleet Group

SGF

$3.14

+2.6%

+41.4%

Spartan Resources

SPR

$0.830

+15.3%

+422.1%

Service Stream

SSM

$1.255

+4.1%

+58.9%

Sovereign Metals

SVM

$0.595

+13.3%

+24.0%

Southern Cross Electrical Engineering

SXE

$1.730

+3.6%

+172.4%

Telix Pharmaceuticals

TLX

$18.44

+19.8%

+61.0%

Technology One

TNE

$18.46

+3.4%

+14.5%

Temple & Webster Group

TPW

$10.56

+2.3%

+102.3%

Treasury Wine Estates

TWE

$12.63

+9.2%

+12.7%

Vanguard Australian Property ETF

VAP

$94.00

+0.5%

+20.5%

Ventia Services Group

VNT

$3.95

+9.7%

+39.1%

Westpac Banking Corporation

WBC

$27.24

+0.6%

+27.8%

Webjet

WEB

$8.88

-2.3%

+23.0%

Westgold Resources

WGX

$2.54

+10.0%

+76.4%

Xero

XRO

$132.61

+6.9%

+10.6%

Today's Uptrends Scan 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: Ansell (ASX: ANN), Botanix Pharmaceuticals (ASX: BOT), Commonwealth Bank of Australia (ASX: CBA), Generation Development Group (ASX: GDG), Goodman Group (ASX: GMG), Harvey Norman (ASX: HVN), Light & Wonder Xngs (ASX: LNW), Macquarie Group (ASX: MQG), NRW (ASX: NWH), Netwealth Group (ASX: NWL), Origin Energy (ASX: ORG), Paragon Care (ASX: PGC), Pro Medicus (ASX: PME), PYC Therapeutics (ASX: PYC), REA Group (ASX: REA), Rex Minerals (ASX: RXM), Telix Pharmaceuticals (ASX: TLX), Treasury Wine Estates (ASX: TWE), Ventia Services Group (ASX: VNT), Westgold Resources (ASX: WGX).

Charts of each below:

Ansell (ASX-ANN) chart 21 June 2024Botanix Pharmaceuticals (ASX-BOT) chart 21 June 2024Commonwealth Bank of Australia (ASX-CBA) chart 21 June 2024Generation Development Group (ASX-GDG) chart 21 June 2024Goodman Group (ASX-GMG) chart 21 June 2024Harvey Norman (ASX-HVN) chart 21 June 2024Light & Wonder (ASX-LNW) chart 21 June 2024Macquarie Group (ASX-MQG) chart 21 June 2024Netwealth Group (ASX-NWL) chart 21 June 2024NRW (ASX-NWH) chart 21 June 2024Origin Energy (ASX-ORG) chart 21 June 2024Paragon Care (ASX-PGC) chart 21 June 2024Pro Medicus (ASX-PME) chart 21 June 2024PYC Therapeutics (ASX-PYC) chart 21 June 2024REA Group (ASX-REA) chart 21 June 2024Rex Minerals (ASX-RXM) chart 21 June 2024Telix Pharmaceuticals (ASX-TLX) chart 21 June 2024Treasury Wine Estates (ASX-TWE) chart 21 June 2024Ventia Services Group (ASX-VNT) chart 21 June 2024Westgold Resources (ASX-WGX) chart 21 June 2024

Downtrends Scan List

Company

Code

Last Price

1mo %

1yr %

Australian Finance Group

AFG

$1.410

-1.1%

-15.3%

Brainchip

BRN

$0.220

-12.0%

-42.9%

Chalice Mining

CHN

$1.355

-21.2%

-80.9%

Champion Iron

CIA

$6.40

-16.7%

+0.6%

Collins Foods

CKF

$9.20

+2.3%

+19.2%

Corporate Travel Management

CTD

$13.65

-6.0%

-30.4%

Core Lithium

CXO

$0.083

-44.7%

-91.7%

EVT

EVT

$11.20

-6.1%

-12.4%

IDP Education

IEL

$14.50

-16.5%

-39.4%

Insignia Financial

IFL

$2.19

-2.2%

-25.3%

Inghams Group

ING

$3.48

-3.3%

+25.6%

Iress

IRE

$7.74

-3.3%

-28.1%

Kogan.Com

KGN

$4.36

-6.2%

-13.3%

Kelsian Group

KLS

$4.99

-3.7%

-31.0%

Liontown Resources

LTR

$0.935

-34.8%

-67.3%

Meteoric Resources

MEI

$0.160

-13.5%

-17.9%

Mineral Resources

MIN

$55.76

-28.9%

-24.7%

Nine Entertainment

NEC

$1.420

-3.1%

-28.6%

Ramsay Health Care

RHC

$48.53

-0.7%

-16.6%

Seek

SEK

$22.36

-2.1%

+1.4%

Syrah Resources

SYR

$0.365

-25.5%

-59.1%

Vicinity Centres

VCX

$1.885

-3.6%

-1.3%

Vulcan Steel

VSL

$6.69

-8.6%

-14.8%

Waypoint Reit

WPR

$2.33

-4.1%

-15.6%

Today's Downtrends Scan 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: Champion Iron (ASX: CIA), Collins Foods (ASX: CKF), Inghams Group (ASX: ING), Iress (ASX: IRE), Kogan.Com (ASX: KGN), Kelsian Group (ASX: KLS), Novonix (ASX: NVX), Patriot Battery Metals (ASX: PMT), Ramsay Health Care (ASX: RHC).

Charts of each below:

Champion Iron (ASX-CIA) chart 21 June 2024Collins Foods (ASX-CKF) chart 21 June 2024Inghams Group (ASX-ING) chart 21 June 2024Iress (ASX-IRE) chart 21 June 2024Kelsian Group (ASX-KLS) chart 21 June 2024Kogan.Com (ASX-KGN) chart 21 June 2024Novonix (ASX-NVX) chart 21 June 2024Patriot Battery Metals (ASX-PMT) chart 21 June 2024Ramsay Health Care (ASX-RHC) chart 21 June 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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