ChartWatch ASX Scans: Lithium trio Mineral Resources, Pilbara Minerals, Liontown Resources flourish as Audinate, Telix sag
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: Codan (CDA), Evolution Mining (EVN), Galan Lithium (GLN), Gateway Mining (GML), Lindian Resources (LIN), Lovisa (LOV), Liontown Resources (LTR), Mineral Resources (MIN), Pilbara Minerals (PLS), Tyro Payments (TYR).
- Interesting downtrends in today's Scans: Audinate (AD8), Avita Medical (AVH), Botanix (BOT), Clarity Pharmaceuticals (CU6), Clinuvel (CUV), Endeavour (EDV), Inghams (ING), Stanmore Resources (SMR), Telix Pharmaceuticals (TLX), Yancoal Australia (YAL).
Phew, I'm glad that's over! 😅
I am of course referring to August reporting season – 4 weeks of hell if you're a market analyst! But it's also a potentially rewarding period, too. This is because more often than not ("MOTN") a company's earnings tends to reinforce the trend its share price was travelling in prior to that earnings announcement.
The best analysts at the best fund managers usually don't get too surprised by the stocks that they spend all day, every day, researching. Every minutiae of a company's prosperity, or otherwise, is scrutinised and acted upon each day in real time.
Share prices reflect this detailed analysis in real time, as great companies attract piles of cash from the investment community, who's sole focus is to maximise risk adjusted return while simultaneously minimising opportunity risk. At the same time, those who own great companies, who have exactly the same objectives, don't want to part with them.
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Eagers Automotive, an example of a great company that saw the price break sharply in favour of the prevailing trend (25 times Feature Uptrend since 11 December 2024).
Lot's of cash gunning for these great companies' shares, versus little supply of them. Sounds like a recipe for share price appreciation! Here's the kicker – not all of that demand can get their fill straight away – no they have to beaver away patiently, collecting what little supply is available. The time it takes to fill these orders... and of course the state of excess demand in the market... is exactly what causes trends to form. In the case of Eagers Automotive (APE) above, an uptrend.
I won't bore you with the details of how downtrends are created, but you can simply reverse the logic and the players discussed above.
It's not always the case that things go to plan for trend followers – it's not impossible for the market to be genuinely surprised by earnings. This is when you'll see a perfectly wonderful uptrend obliterated with a long black candle, or just as possible, a withering downtrend terminated by a long white candle. All is possible – and all is fair in the markets.
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Temple & Webster Group (TPW) is an example of a fantastic trend that was ulimately cracked by earnings that clearly disappointed the market
Our job as trend followers, is to keep our heads down, diligently follow the trends, and trust in MOTN ✅.
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 % |
|---|---|---|---|---|
Life360 | 360 | $46.50 | +15.8% | +143.2% |
4DMEDICAL | 4DX | $0.570 | +137.5% | +32.6% |
Global X Battery Tech & Lithium ETF | ACDC | $106.45 | +10.0% | +32.8% |
Australian Finance Group | AFG | $2.80 | +26.1% | +84.8% |
Ampol | ALD | $29.40 | +7.5% | -2.2% |
Amotiv | AOV | $9.78 | +10.9% | -3.6% |
Eagers Automotive | APE | $27.65 | +40.9% | +173.5% |
Argo Investments | ARG | $9.59 | +2.5% | +8.9% |
Autosports Group | ASG | $3.33 | +32.1% | +57.8% |
Activeport Group | ATV | $0.023 | +88.6% | -53.8% |
Artrya | AYA | $2.13 | +107.8% | +545.5% |
Black Canyon | BCA | $0.480 | +48.8% | +255.6% |
Barton Gold | BGD | $0.900 | +31.4% | +260.0% |
BHP Group | BHP | $43.19 | +10.0% | +4.5% |
Beetaloo Energy Australia | BTL | $0.310 | +29.2% | +19.2% |
Bubs Australia | BUB | $0.180 | +16.1% | +38.5% |
Chrysos Corporation | C79 | $6.57 | +30.1% | +12.3% |
Cobram Estate Olives | CBO | $3.21 | +23.9% | +87.2% |
Cuscal Group | CCL | $3.70 | +20.5% | 0% |
Codan | CDA | $30.88 | +47.4% | +106.4% |
Vaneck China New Economy ETF | CNEW | $8.41 | +10.7% | +63.6% |
Chorus | CNU | $8.89 | +10.8% | +14.1% |
Caprice Resources | CRS | $0.096 | +57.4% | +108.7% |
Catalyst Metals | CYL | $7.25 | +43.0% | +250.2% |
Duratec | DUR | $1.850 | +26.7% | +54.2% |
Dorsavi | DVL | $0.050 | +78.6% | +257.1% |
Emeco | EHL | $1.070 | +20.2% | +33.8% |
Evolution Mining | EVN | $8.66 | +21.8% | +99.5% |
Fiducian Group | FID | $13.36 | +19.0% | +53.6% |
Galan Lithium | GLN | $0.170 | +25.9% | +29.2% |
Gateway Mining | GML | $0.056 | +107.4% | +115.4% |
Helloworld Travel | HLO | $1.900 | +13.1% | -8.2% |
Hearts and Minds Investments | HM1 | $3.47 | +3.0% | +27.6% |
Hipages Group | HPG | $1.300 | +32.0% | +1.6% |
iShares S&P/ASX Small Ordinaries ETF | ISO | $5.46 | +8.3% | +18.7% |
Jumbo Interactive | JIN | $12.22 | +16.3% | -12.3% |
Lindian Resources | LIN | $0.275 | +175.0% | +139.1% |
Lovisa | LOV | $43.14 | +26.4% | +32.9% |
Liontown Resources | LTR | $0.940 | +14.6% | +19.7% |
MA Financial Group | MAF | $9.67 | +18.4% | +93.4% |
Mineral Resources | MIN | $37.40 | +30.8% | -18.0% |
Metals X | MLX | $0.640 | +10.3% | +60.0% |
Metro Mining | MMI | $0.076 | +7.0% | +94.9% |
McMillan Shakespeare | MMS | $19.59 | +9.8% | +11.1% |
Monadelphous Group | MND | $21.47 | +10.2% | +66.4% |
Metal Powder Works | MPW | $3.65 | +86.2% | -56.8% |
Motorcycle Holdings | MTO | $3.72 | +3.3% | +200.0% |
Mayfield Group | MYG | $1.530 | +36.0% | +102.7% |
National Australia Bank | NAB | $42.79 | +10.0% | +14.5% |
Nick Scali | NCK | $24.28 | +26.3% | +54.0% |
Newmont Corporation | NEM | $111.86 | +15.6% | +45.8% |
Neuren Pharmaceuticals | NEU | $19.01 | +9.9% | +20.7% |
Novonix | NVX | $0.570 | +26.7% | -6.6% |
Orica | ORI | $21.98 | +2.8% | +22.4% |
Pilbara Minerals | PLS | $2.45 | +52.6% | -20.5% |
Perenti | PRN | $2.36 | +34.5% | +133.7% |
Platinum Asset Management | PTM | $0.800 | +20.3% | +5.1% |
Peak Minerals | PUA | $0.062 | -1.6% | +1829.1% |
Qoria | QOR | $0.670 | +11.7% | +88.7% |
Resimac Group | RMC | $1.040 | +17.5% | +26.8% |
Ramelius Resources | RMS | $3.17 | +25.8% | +51.7% |
Siteminder | SDR | $6.91 | +32.6% | +34.2% |
Ricegrowers | SGLLV | $15.98 | +35.2% | +93.2% |
St George Mining | SGQ | $0.045 | +15.4% | +80.0% |
Smartgroup Corporation | SIQ | $9.05 | +14.3% | +21.5% |
BetaShares Australian Small Companies Select Fund ETF | SMLL | $4.20 | +13.8% | +14.1% |
Washington H Soul Pattinson & Company | SOL | $43.76 | +7.8% | +27.2% |
Smart Parking | SPZ | $0.995 | +24.4% | +81.6% |
SRG Global | SRG | $1.965 | +18.0% | +99.5% |
Super Retail Group | SUL | $18.81 | +22.8% | +8.9% |
Tabcorp | TAH | $0.980 | +26.5% | +73.5% |
Tyro Payments | TYR | $1.240 | +29.8% | +19.8% |
BetaShares Global Uranium ETF | URNM | $9.61 | +10.5% | +23.8% |
Viridis Mining and Minerals | VMM | $1.470 | +32.4% | +145.0% |
Global X Copper Miners ETF | WIRE | $15.10 | +14.0% | +15.4% |
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: 4DMEDICAL (ASX: 4DX), Australian Finance Group (ASX: AFG), Amotiv (ASX: AOV), Eagers Automotive (ASX: APE), Argo Investments (ASX: ARG), Autosports Group (ASX: ASG), Artrya (ASX: AYA), Barton Gold (ASX: BGD), Codan (ASX: CDA), Vaneck China New Economy ETF (ASX: CNEW), Caprice Resources (ASX: CRS), Duratec (ASX: DUR), Emeco (ASX: EHL), Evolution Mining (ASX: EVN), Galan Lithium (ASX: GLN), Gateway Mining (ASX: GML), Lindian Resources (ASX: LIN), Lovisa (ASX: LOV), Liontown Resources (ASX: LTR), MA Financial Group (ASX: MAF), Mineral Resources (ASX: MIN), McMillan Shakespeare (ASX: MMS), Motorcycle Holdings (ASX: MTO), Newmont Corporation (ASX: NEM), Pilbara Minerals (ASX: PLS), Peak Minerals (ASX: PUA), Resimac Group (ASX: RMC), Ramelius Resources (ASX: RMS), Siteminder (ASX: SDR), St George Mining (ASX: SGQ), Smartgroup Corporation (ASX: SIQ), Tabcorp (ASX: TAH), Tyro Payments (ASX: TYR), BetaShares Global Uranium ETF (ASX: URNM), Viridis Mining and Minerals (ASX: VMM).
10 Randomly chosen Feature Uptrend Charts:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Audinate Group | AD8 | $4.72 | -23.3% | -51.9% |
Appen | APX | $0.865 | -3.9% | -31.3% |
Avita Medical | AVH | $1.345 | -19.5% | -50.6% |
Bellevue Gold | BGL | $0.860 | +6.2% | -30.9% |
Botanix Pharmaceuticals | BOT | $0.145 | -3.3% | -59.7% |
Beach Energy | BPT | $1.200 | +2.6% | -8.0% |
Clarity Pharmaceuticals | CU6 | $2.98 | -31.8% | -57.4% |
Clinuvel Pharmaceuticals | CUV | $10.65 | -17.9% | -22.8% |
Endeavour Group | EDV | $3.82 | -6.6% | -26.5% |
Eureka Group | EGH | $0.500 | -10.7% | -8.7% |
GQG Partners | GQG | $1.745 | -14.9% | -37.0% |
Gentrack Group | GTK | $9.17 | -5.9% | -1.0% |
Immutep | IMM | $0.235 | -13.0% | -36.5% |
Inghams Group | ING | $2.71 | -21.7% | -13.1% |
OFX Group | OFX | $0.810 | -2.4% | -61.1% |
Reliance Worldwide Corporation | RWC | $4.19 | -2.8% | -19.9% |
Skycity Entertainment Group | SKC | $0.625 | -28.5% | -51.5% |
Stanmore Resources | SMR | $1.865 | -12.4% | -39.3% |
Telix Pharmaceuticals | TLX | $14.60 | -30.6% | -26.9% |
Yancoal Australia | YAL | $5.44 | -13.9% | +1.7% |
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: Audinate Group (ASX: AD8), Avita Medical (ASX: AVH), Botanix Pharmaceuticals (ASX: BOT), Clarity Pharmaceuticals (ASX: CU6), Clinuvel Pharmaceuticals (ASX: CUV), Endeavour Group (ASX: EDV), GQG Partners (ASX: GQG), Gentrack Group (ASX: GTK), Immutep (ASX: IMM), Inghams Group (ASX: ING), Skycity Entertainment Group (ASX: SKC), Stanmore Resources (ASX: SMR), Telix Pharmaceuticals (ASX: TLX), Yancoal Australia (ASX: YAL).
10 Randomly chosen Feature Downtrend Charts:
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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'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!!!
