ChartWatch ASX Scans: LYC, IPX, MTM and MEI feature as investors pivot to rare earth and critical minerals
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: Astral Resources (AAR), AMA Group (AMA), Aurelia Metals (AMI), Charter Hall Group (CHC), Iperionx (IPX), Lovisa (LOV), Lynas Rare Earths (LYC), Megaport (MP1), SGH (SGH), Titomic (TTT), WIA Gold (WIA), Xero (XRO).
- Interesting downtrends in today's Scans: CSL (CSL), Domino's Pizza Enterprises (DMP), Healius (HLS), Integral Diagnostics (IDX), Lifestyle Communities (LIC), Monash IVF Group (MVF), OFX Group (OFX), Redox (RDX), Reliance Worldwide Corporation (RWC).
Themes. Narratives. Fads.
As a technical analyst, I pay very little attention to them. They're completely irrelevant, as are all fundamentals – company specific, microeconomic, macroeconomic, astrological, or otherwise. Did I leave anything that's not D + S = P out? 🤔
But every now and then, even I notice that a few stocks within a particular sector of the market happen to be simultaneously popping up in either the Uptrends or Downtrends Scan Lists below. Today, it's rare earth and critical minerals stocks, in particular: Iperionx (ASX: IPX), Lynas Rare Earths (ASX: LYC), Meteoric Resources (ASX: MEI), and MTM Critical Metals (ASX: MTM).
You know my deal. They're the greatest thing since sliced bread as long as their charts are pointing bottom left-top right 📈=✅.
As for the rest of today's constituents, whilst yesterday's stagnant market means there are fewer to choose from in both the long and short categories – there remains a substantial amount of quality.
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 | $33.28 | +43.2% | +117.5% |
Astral Resources | AAR | $0.195 | +21.9% | +121.6% |
AMA Group | AMA | $0.105 | +34.6% | +155.2% |
Aurelia Metals | AMI | $0.345 | +13.1% | +81.6% |
Austal | ASB | $5.90 | +16.1% | +146.9% |
Global X Uranium ETF | ATOM | $17.97 | +25.1% | +5.9% |
Commonwealth Bank of Australia | CBA | $181.34 | +9.3% | +49.5% |
Charter Hall Group | CHC | $19.24 | +5.7% | +55.8% |
Develop Global | DVP | $4.24 | +22.2% | +86.8% |
EML Payments | EML | $1.180 | +20.4% | +26.2% |
Fisher & Paykel Healthcare Corporation | FPH | $34.72 | +5.0% | +27.4% |
Gorilla Gold Mines | GG8 | $0.545 | -2.7% | +1191.5% |
Goodman Group | GMG | $33.58 | +8.1% | +0.2% |
GPT Group | GPT | $4.91 | +2.3% | +15.3% |
Iperionx | IPX | $4.78 | +35.4% | +105.2% |
Kina Securities | KSL | $1.220 | +10.9% | +25.1% |
Lovisa | LOV | $32.24 | +27.6% | +6.1% |
Lynas Rare Earths | LYC | $9.26 | +15.9% | +37.6% |
Meteoric Resources | MEI | $0.125 | +30.2% | -32.4% |
Metro Mining | MMI | $0.063 | +16.7% | +26.0% |
Megaport | MP1 | $13.90 | +24.9% | +3.1% |
Medibank Private | MPL | $4.90 | +2.9% | +30.0% |
MTM Critical Metals | MTM | $0.500 | +138.1% | +861.5% |
Qube | QUB | $4.31 | +3.4% | +19.1% |
SGH | SGH | $54.10 | +8.9% | +38.1% |
Sims | SGM | $15.70 | +4.2% | +46.0% |
Singular Health Group | SHG | $0.370 | +27.6% | +289.5% |
Servcorp | SRV | $5.70 | +11.8% | +35.7% |
Titomic | TTT | $0.325 | +20.4% | +265.2% |
WIA Gold | WIA | $0.260 | +15.6% | +136.4% |
Xero | XRO | $189.99 | +14.6% | +41.5% |
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: Astral Resources (ASX: AAR), AMA Group (ASX: AMA), Aurelia Metals (ASX: AMI), Charter Hall Group (ASX: CHC), Iperionx (ASX: IPX), Lovisa (ASX: LOV), Lynas Rare Earths (ASX: LYC), Megaport (ASX: MP1), SGH (ASX: SGH), Singular Health Group (ASX: SHG), Titomic (ASX: TTT), WIA Gold (ASX: WIA), Xero (ASX: XRO).
Charts of each below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Avita Medical | AVH | $1.830 | -36.5% | -36.2% |
Bellevue Gold | BGL | $0.935 | -3.1% | -48.8% |
CSL | CSL | $242.96 | 0.0% | -13.6% |
Domino's Pizza Enterprises | DMP | $21.63 | -14.5% | -43.9% |
Healius | HLS | $0.830 | -29.1% | -14.7% |
Humm Group | HUM | $0.440 | -11.1% | -2.2% |
Integral Diagnostics | IDX | $2.34 | -7.5% | -4.1% |
Lifestyle Communities | LIC | $6.86 | -15.0% | -45.2% |
Monash IVF Group | MVF | $0.755 | -6.8% | -46.3% |
Nufarm | NUF | $2.10 | -44.9% | -54.0% |
OFX Group | OFX | $0.690 | -39.5% | -67.3% |
Redox | RDX | $2.19 | -20.4% | -32.4% |
Reliance Worldwide Corporation | RWC | $4.34 | +4.6% | -11.6% |
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: Interesting downtrends in today's Scans: CSL (ASX: CSL), Domino's Pizza Enterprises (ASX: DMP), Healius (ASX: HLS), Integral Diagnostics (ASX: IDX), Lifestyle Communities (ASX: LIC), Monash IVF Group (ASX: MVF), OFX Group (ASX: OFX), Redox (ASX: RDX), Reliance Worldwide Corporation (ASX: RWC).
Charts of each below:
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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 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.
