ChartWatch ASX Scans: Meltdowns in BHP, RIO, IGO, PLS, and MIN continue as CBA, COL and NHF keep rising
Your daily dose of the most interesting uptrends and downtrends on the ASX with technical analysis from an expert.
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KEY POINTS
- Interesting uptrends in today's Scans: AMA Group (AMA), Commonwealth Bank of Australia (CBA), Coles Group (COL), NIB (NHF), Regis Resources (RRL), Select Harvests (SHV).
- Interesting downtrends in today's Scans: BHP (BHP), Champion Iron (CIA), Core Lithium (CXO), Fortescue (FMG), IGO (IGO), Iperionx (IPX), Liontown Resources (LTR), Mineral Resources (MIN), Pilbara Minerals (PLS), Sayona Mining (SYA), Xero (XRO).
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.
It was another bruising encounter for Aussie stocks today, not the least the serial Features in my Downtrend lists. It just feels like the same suspects each day: Champion Iron (CIA), Cettire (CTT), Fortescue (FMG), IGO (IGO), Iluka Resources (ILU), Liontown Resources (LTR), Mineral Resources (MIN), Pilbara Minerals (PLS), Whitehaven Coal (WHC), and the list goes on.
Still, there were a few bright spots amidst the carnage, and in some big names too. I note continuing strong uptrends in Coles Group (COL), NIB (NHF), Regis Resources (RRL), Select Harvests (SHV), plus re-establishing trends in AMA Group (AMA) and Commonwealth Bank of Australia (CBA).
Trends simply reflect the underlying demand-supply environment for the asset in question. The demand-supply environment is shaped by the fundamental outlook for the asset in question – and in this way trends are simply a round-about way of reading the fundamentals.
One should consider that their own personal view of a stock's fundamentals may not be the same as the market’s view. And, as I have learned from painful experience – the market is ALWAYS right! 🧐
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 % |
|---|---|---|---|---|
AMA Group | AMA | $0.068 | +36.0% | +38.2% |
APA Group | APA | $7.92 | +5.3% | -5.3% |
Eagers Automotive | APE | $15.62 | +4.1% | +16.8% |
Austal | ASB | $4.26 | -1.4% | +75.3% |
Commonwealth Bank of Australia | CBA | $156.37 | 0.0% | +32.7% |
Coles Group | COL | $20.29 | +7.4% | +22.2% |
Ebos Group | EBO | $35.66 | +5.2% | +12.4% |
Meeka Metals | MEK | $0.160 | +23.1% | +370.6% |
Medibank Private | MPL | $4.58 | +3.2% | +22.5% |
NIB | NHF | $6.90 | +2.2% | -10.6% |
Vaneck Gold Bullion ETF | NUGG | $50.26 | +8.6% | +43.8% |
Regis Resources | RRL | $3.99 | +25.1% | +106.2% |
Stealth Group | SGI | $0.860 | +21.1% | +224.5% |
Select Harvests | SHV | $5.17 | +9.5% | +18.5% |
Spartan Resources | SPR | $1.910 | +32.6% | +223.1% |
Telstra Group | TLS | $4.34 | +3.1% | +13.3% |
Wesfarmers | WES | $73.86 | -0.4% | +11.1% |
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: AMA Group (ASX: AMA), Commonwealth Bank of Australia (ASX: CBA), Coles Group (ASX: COL), NIB (ASX: NHF), Regis Resources (ASX: RRL), Select Harvests (ASX: SHV).
Charts of each below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
4DMEDICAL | 4DX | $0.255 | -32.0% | -59.2% |
Alpha HPA | A4N | $0.775 | -11.4% | -16.7% |
Alcoa Corporation | AAI | $46.87 | -7.6% | 0% |
AMP | AMP | $1.185 | -10.6% | +4.9% |
Appen | APX | $0.945 | -34.4% | +61.5% |
Avita Medical | AVH | $2.46 | -12.8% | -46.6% |
BHP Group | BHP | $37.01 | -6.4% | -17.5% |
Chrysos Corporation | C79 | $4.00 | -14.5% | -41.3% |
Champion Iron | CIA | $4.55 | -11.3% | -37.1% |
Capstone Copper Corp. | CSC | $7.68 | -13.3% | 0% |
Cettire | CTT | $0.680 | -32.0% | -79.8% |
Clarity Pharmaceuticals | CU6 | $1.895 | -38.3% | -30.8% |
Core Lithium | CXO | $0.069 | -17.9% | -55.5% |
Fortescue | FMG | $14.94 | -6.2% | -40.7% |
GQG Partners | GQG | $2.02 | -9.0% | -9.0% |
Hub24 | HUB | $64.52 | -15.1% | +55.7% |
Infratil | IFT | $9.19 | -0.3% | -7.8% |
IGO | IGO | $3.53 | -10.4% | -50.4% |
Iluka Resources | ILU | $3.68 | -11.1% | -49.4% |
Imugene | IMU | $0.028 | -22.2% | -73.3% |
IPD Group | IPG | $3.52 | -10.2% | -21.4% |
Iperionx | IPX | $2.56 | -23.8% | +12.8% |
Jupiter Mines | JMS | $0.150 | -6.3% | -30.2% |
Lendlease Group | LLC | $5.87 | -1.8% | -6.1% |
Lotus Resources | LOT | $0.145 | -14.7% | -65.5% |
Liontown Resources | LTR | $0.490 | -25.8% | -57.4% |
Macquarie Technology Group | MAQ | $61.69 | -9.8% | -22.5% |
Mineral Resources | MIN | $21.03 | -0.2% | -70.1% |
Monash IVF Group | MVF | $1.080 | -10.4% | -25.3% |
Neuren Pharmaceuticals | NEU | $10.57 | -15.0% | -47.8% |
New Hope Corporation | NHC | $3.61 | -8.6% | -22.5% |
Netwealth Group | NWL | $23.98 | -15.6% | +21.5% |
Nextdc | NXT | $11.38 | -17.9% | -35.3% |
Orora | ORA | $1.825 | -11.0% | -18.5% |
Pilbara Minerals | PLS | $1.435 | -24.3% | -61.9% |
Perpetual | PPT | $18.52 | -2.5% | -24.4% |
Reece | REH | $14.65 | -13.1% | -47.8% |
Rio Tinto | RIO | $111.94 | -4.7% | -9.0% |
Reliance Worldwide Corporation | RWC | $4.25 | -13.4% | -26.1% |
South32 | S32 | $2.97 | -15.4% | -2.0% |
Stanmore Resources | SMR | $1.975 | -14.1% | -35.7% |
Seven West Media | SWM | $0.145 | -9.4% | -21.6% |
Sayona Mining | SYA | $0.015 | -28.6% | -61.5% |
Syrah Resources | SYR | $0.225 | -2.2% | -57.1% |
Terracom | TER | $0.075 | -37.5% | -70.0% |
Weebit Nano | WBT | $1.720 | -14.4% | -44.5% |
Wildcat Resources | WC8 | $0.160 | -13.5% | -75.2% |
Woodside Energy Group | WDS | $22.48 | -6.8% | -26.3% |
Whitehaven Coal | WHC | $4.86 | -15.5% | -31.8% |
Xero | XRO | $150.42 | -13.0% | +20.3% |
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: 4DMEDICAL (ASX: 4DX), AMP (ASX: AMP), BHP Group (ASX: BHP), Champion Iron (ASX: CIA), Capstone Copper Corp. (ASX: CSC), Core Lithium (ASX: CXO), Fortescue (ASX: FMG), Hub24 (ASX: HUB), IGO (ASX: IGO), Imugene (ASX: IMU), IPD Group (ASX: IPG), Iperionx (ASX: IPX), Lendlease Group (ASX: LLC), Lotus Resources (ASX: LOT), Liontown Resources (ASX: LTR), Macquarie Technology Group (ASX: MAQ), Mineral Resources (ASX: MIN), Neuren Pharmaceuticals (ASX: NEU), New Hope Corporation (ASX: NHC), Netwealth Group (ASX: NWL), Nextdc (ASX: NXT), Pilbara Minerals (ASX: PLS), Reece (ASX: REH), Reliance Worldwide Corporation (ASX: RWC), South32 (ASX: S32), Stanmore Resources (ASX: SMR), Sayona Mining (ASX: SYA), Wildcat Resources (ASX: WC8), Whitehaven Coal (ASX: WHC), Xero (ASX: XRO).
Charts of each below:
(Clearly too many to print them all here...so I asked AI to pick 10 tickers from the list at random!)
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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.
