ChartWatch ASX Scans: Mineral Resources on naughty list again, along with CIA, RMD and WHC as Newmont leads gold higher
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: Alkane (ALK), Aurelia Metals (AMI), Catalyst Metals (CYL), Genesis Minerals (GMD), Magnetic Resources (MAU), Newmont (NEM), Northern Star (NST), Rarex (REE), Spartan Resources (SPR), Southern Cross Gold (SX2).
- Interesting downtrends in today's Scans: Alcoa (AAI), Champion Iron (CIA), Light & Wonder (LNW), Helloworld (HLO), Reliance Worldwide (RWC), Mineral Resources (MIN), Resmed (RMD), Incitec Pivot (IPL), Whitehaven Coal (WHC), Perpetual (PPT), Silex (SLX).
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.
As is often the case in trend following, you find Wednesday's list of uptrends is pretty similar to Tuesday's list of uptrends, and funnily enough – it's also the case for downtrends! But, it could be argued that today's respective lists of uptrends and downtrends are similar to those that have printed here day in, day out for months.
For example, mum and dad favourite Mineral Resources (MIN) has appeared as a Feature Downtrend (i.e., highest conviction) 38 times over the last 11 months that ChartWatch Scans has been running. The record, however, for "Naughty List" (a.k.a. Downtrends Scan List) loser must go to Coronado Global Resources (CRN) – which has appeared as a Feature Downtrend a devastating 47 times.
The same can be said for serial Feature Uptrend winners Catalyst Metals (CYL) – which has appeared 42 times in the "Nice List" (a.k.a. the Uptrends Scan List) and the Global X Physical Gold ETF (GOLD) – which has appeared 30 times. GOLD is particularly interesting, because it's one investors who felt they couldn't pick a winner in the sector could have gone with and done very well on.
However, looking at today's Nice List – there have been / remain plenty of gold stocks in strong uptrends to choose from 🥇.
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 % |
|---|---|---|---|---|
Almonty Industries | AII | $2.70 | +57.9% | +339.0% |
Alkane Resources | ALK | $0.775 | +25.0% | +17.4% |
Aurelia Metals | AMI | $0.270 | +10.2% | +50.0% |
APA Group | APA | $8.16 | +3.2% | -0.4% |
Antipa Minerals | AZY | $0.540 | +22.7% | +315.4% |
Capricorn Metals | CMM | $9.97 | +19.1% | +86.7% |
Catalyst Metals | CYL | $6.70 | +51.9% | +787.4% |
Dalrymple Bay Infrastructure/Notes | DBI | $3.94 | +3.7% | +42.8% |
Global X Physical Precious Metal Basket | ETPMPM | $293.90 | +5.0% | +26.2% |
Vaneck Gold Miners ETF | GDX | $82.58 | +15.5% | +57.2% |
Genesis Minerals | GMD | $4.39 | +24.4% | +137.9% |
Global X Physical Gold ETF | GOLD | $47.61 | +9.2% | +38.7% |
Gold Road Resources | GOR | $3.23 | +28.7% | +102.5% |
Kingsgate Consolidated | KCN | $1.620 | +9.5% | +10.2% |
Koonenberry Gold | KNB | $0.065 | +85.7% | +197.3% |
Magnetic Resources | MAU | $1.520 | +1.0% | +55.1% |
BetaShares Global Gold Miners Hedged ETF | MNRS | $8.99 | +12.1% | +53.2% |
Newmont Corporation | NEM | $87.95 | +17.6% | +48.1% |
Northern Star Resources | NST | $22.09 | +22.9% | +45.9% |
Rarex | REE | $0.036 | +350.0% | +100.0% |
Ramelius Resources | RMS | $2.84 | +29.7% | +43.8% |
Regis Resources | RRL | $4.78 | +32.4% | +123.4% |
Rox Resources | RXL | $0.420 | +23.5% | +87.9% |
Spartan Resources | SPR | $2.20 | +25.0% | +272.1% |
Southern Cross Gold | SX2 | $5.57 | +47.7% | 0% |
Vault Minerals | VAU | $0.470 | +4.4% | +10.6% |
West African Resources | WAF | $2.41 | +3.9% | +70.3% |
Westgold Resources | WGX | $3.17 | +7.5% | +51.0% |
WIA Gold | WIA | $0.205 | +20.6% | +150.0% |
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: Alkane Resources (ASX: ALK), Aurelia Metals (ASX: AMI), Capricorn Metals (ASX: CMM), Catalyst Metals (ASX: CYL), Genesis Minerals (ASX: GMD), Global X Physical Gold ETF (ASX: GOLD), Gold Road Resources (ASX: GOR), Magnetic Resources (ASX: MAU), Newmont Corporation (ASX: NEM), Northern Star Resources (ASX: NST), Rarex (ASX: REE), Ramelius Resources (ASX: RMS), Regis Resources (ASX: RRL), Rox Resources (ASX: RXL), Spartan Resources (ASX: SPR), Southern Cross Gold (ASX: SX2), West African Resources (ASX: WAF), Westgold Resources (ASX: WGX), WIA Gold (ASX: WIA).
Charts of each below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Alcoa Corporation | AAI | $37.94 | -29.6% | 0% |
Audinate Group | AD8 | $5.80 | -6.8% | -69.4% |
Ampol | ALD | $20.65 | -15.2% | -46.1% |
Accent Group | AX1 | $1.780 | -0.3% | -3.0% |
Bannerman Energy | BMN | $2.06 | -8.0% | -50.1% |
Chrysos Corporation | C79 | $3.73 | -14.1% | -46.3% |
Champion Iron | CIA | $4.13 | -24.8% | -37.3% |
Coronado Global Resources | CRN | $0.225 | -54.5% | -80.9% |
Clarity Pharmaceuticals | CU6 | $1.680 | -40.2% | -38.0% |
Deterra Royalties | DRR | $3.38 | -7.7% | -29.7% |
DUG Technology | DUG | $0.900 | -17.8% | -67.3% |
Elders | ELD | $5.85 | -15.5% | -30.4% |
Flight Centre Travel Group | FLT | $12.10 | -14.7% | -42.1% |
Galan Lithium | GLN | $0.105 | -4.5% | -72.0% |
Graincorp | GNC | $6.53 | -5.9% | -19.8% |
Helloworld Travel | HLO | $1.380 | -6.8% | -48.7% |
HMC Capital | HMC | $4.53 | -37.8% | -30.8% |
Humm Group | HUM | $0.480 | -6.8% | +3.2% |
IDP Education | IEL | $8.62 | -17.6% | -46.5% |
IGO | IGO | $3.40 | -21.5% | -53.0% |
Immutep | IMM | $0.225 | -23.7% | -39.4% |
Incitec Pivot | IPL | $2.22 | -19.0% | -18.4% |
Johns Lyng Group | JLG | $2.03 | -20.1% | -64.4% |
Lifestyle Communities | LIC | $7.31 | -15.6% | -48.2% |
Lendlease Group | LLC | $5.22 | -15.7% | -16.7% |
Light & Wonder | LNW | $123.87 | -24.2% | -13.1% |
Liontown Resources | LTR | $0.515 | -28.5% | -56.4% |
Mineral Resources | MIN | $16.61 | -33.2% | -76.1% |
Mesoblast | MSB | $1.620 | -22.9% | +88.4% |
New Hope Corporation | NHC | $3.56 | -11.7% | -22.4% |
Paladin Energy | PDN | $4.37 | -34.9% | -72.2% |
Peninsula Energy | PEN | $0.620 | -6.1% | -69.7% |
Polynovo | PNV | $1.060 | -16.9% | -47.3% |
Perpetual | PPT | $15.63 | -17.7% | -36.7% |
Rio Tinto | RIO | $108.37 | -9.3% | -15.8% |
Resmed Inc | RMD | $33.04 | -4.9% | +15.2% |
Reliance Worldwide Corporation | RWC | $3.83 | -18.7% | -26.8% |
South32 | S32 | $2.67 | -26.0% | -18.6% |
Skycity Entertainment Group | SKC | $1.050 | -4.5% | -38.4% |
Silex Systems | SLX | $2.65 | -32.7% | -45.8% |
Santos | STO | $5.49 | -13.1% | -29.3% |
Weebit Nano | WBT | $1.625 | -19.2% | -47.4% |
Woodside Energy Group | WDS | $19.32 | -15.5% | -35.4% |
WEB Travel Group | WEB | $4.11 | -9.5% | -45.2% |
Whitehaven Coal | WHC | $4.65 | -20.4% | -39.2% |
Worley | WOR | $11.55 | -22.0% | -30.0% |
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: Alcoa Corporation (ASX: AAI), Coronado Global Resources (ASX: CRN), Ampol (ASX: ALD), Champion Iron (ASX: CIA), Light & Wonder (ASX: LNW), Helloworld Travel (ASX: HLO), Reliance Worldwide Corporation (ASX: RWC), Mineral Resources (ASX: MIN), Lendlease Group (ASX: LLC), Resmed Inc (ASX: RMD), Incitec Pivot (ASX: IPL), Whitehaven Coal (ASX: WHC), Perpetual (ASX: PPT), Silex Systems (ASX: SLX).
Charts of each below:
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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.
