ChartWatch ASX Scans: Mineral Resources, Wesfarmers, Austal, Electro Optic Systems, Elsight, Global X Defence Tech ETF
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: Austal (ASB), Artrya (AYA), Elsight (ELS), Electro Optic Systems (EOS), G50 Corp (G50), Iluka (ILU), Mineral Resources (MIN), Monadelphous (MND), Newmont (NEM), Tasmea (TEA), Telstra (TLS), Wesfarmers (WES).
- Interesting downtrends in today's Scans: Boss Energy (BOE), Fleetpartners Group (FPR), Gentrack Group (GTK), The Star Entertainment Group (SGR), Strike Energy (STX), Southern Cross Gold (SX2).
One of the best things about my system, if I say so myself, it the fact it places absolutely zero importance of fundamentals. So, the concepts of "cheap" or "expensive" are redundant.
Cheap, expensive? I don't know. I don't care 🤷.
I'll never sell something that's going up because I think it's expensive. Just as I'll never buy something that's going down because I think it's cheap. I must, however, always follow the trend.
Being completely oblivious to the "value" of a stock means I'll never buy it at the bottom or sell it at the top – my trend following ensures this is quite impossible. But, I may buy it after it has risen in price sufficiently to meet my uptrend criteria.
Why am I discussing this today? Because after a one-month break from ChartWatch ASX Scans due to my vacation, I've noticed several stocks that spent many (and in some cases, many, many!) months in the Downtrends Scan List – and have seemingly now all of a sudden, appeared in the Uptrends Scan List.
Of course, this is function of me not running scans for a month, but it's fantastic to see stocks that I had run so successfully as shorts for long periods of time, like Iluka Resources (ILU), Mineral Resources (MIN), Woodside Energy (WDS), Peter Warren Automotive (PWR), Elders (ELD), Dicker Data (DDR), Super Retail Group (SUL) and Weebit Nano (WBT) each logging trend reversals and now qualifying as uptrend turnaround setups.
I know some shareholders get cranky when they see their stocks on the Downtrends list, as if I am targeting them for some reason. I can assure you, this couldn't be further from the truth! If a stock is on either of my lists, it's not because I have some vendetta against- or love affair with it – simply that it has met the relevant criteria to do so. My view is as unbiased as the trend itself!
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 % |
|---|---|---|---|---|
BetaShares Australia 200 ETF | A200 | $146.15 | +2.1% | +8.0% |
Aussie Broadband | ABB | $4.61 | +18.8% | +48.7% |
Global X Battery Tech & Lithium ETF | ACDC | $99.51 | +9.5% | +18.5% |
Australian Finance Group | AFG | $2.29 | +7.0% | +53.2% |
AMP | AMP | $1.640 | +14.7% | +38.4% |
ANZ Group | ANZ | $30.83 | +2.3% | +5.4% |
APA Group | APA | $8.53 | +1.7% | +7.7% |
Eagers Automotive | APE | $20.08 | +7.9% | +88.9% |
BetaShares Australian Quality ETF | AQLT | $34.08 | +4.0% | +14.6% |
Argo Investments | ARG | $9.44 | +4.0% | +4.1% |
Austal | ASB | $6.93 | +17.9% | +164.5% |
BetaShares Asia Technology Tigers ETF | ASIA | $12.25 | +5.1% | +33.9% |
Artrya | AYA | $1.140 | +20.0% | +314.5% |
Barton Gold | BGD | $0.800 | +5.3% | +233.3% |
Brickworks | BKW | $33.98 | -1.7% | +17.9% |
Benz Mining Corp. | BNZ | $0.725 | +25.0% | +437.0% |
Brambles | BXB | $23.85 | +3.2% | +53.6% |
Cobram Estate Olives | CBO | $2.69 | +10.2% | +65.0% |
Codan | CDA | $22.47 | +16.2% | +75.4% |
Vaneck China New Economy ETF | CNEW | $7.68 | +8.2% | +38.4% |
Centuria Capital Group | CNI | $1.890 | +6.2% | +13.2% |
COG Financial Services | COG | $1.880 | +10.6% | +61.4% |
Coles Group | COL | $21.02 | 0.0% | +15.4% |
Catalyst Metals | CYL | $5.83 | +12.8% | +203.6% |
Dalrymple Bay Infrastructure | DBI | $4.74 | +9.0% | +53.4% |
Dicker Data | DDR | $8.90 | +6.1% | -13.3% |
Vaneck Global Defence ETF | DFND | $36.51 | +5.9% | 0% |
Downer EDI | DOW | $6.97 | +8.7% | +39.1% |
Global X Defence Tech ETF | DTEC | $17.29 | +6.1% | 0% |
Diversified United Investment | DUI | $5.55 | +3.2% | +6.7% |
Elders | ELD | $7.42 | +14.2% | -20.8% |
Elsight | ELS | $1.980 | +17.2% | +350.0% |
Electro Optic Systems | EOS | $4.23 | +62.1% | +133.7% |
Fiducian Group | FID | $11.58 | +17.0% | +57.8% |
Forrestania Resources | FRS | $0.210 | +121.1% | +303.8% |
G50 Corp | G50 | $0.330 | +69.2% | +120.0% |
BetaShares Video Games & Esports ETF | GAME | $19.38 | +6.0% | +85.5% |
Generation Development | GDG | $6.25 | +23.5% | +152.3% |
BetaShares Geared Australian ETF | GEAR | $35.69 | +4.1% | +16.3% |
GPT Group | GPT | $5.18 | +1.2% | +11.2% |
Hub24 | HUB | $108.02 | +14.5% | +115.1% |
Harvey Norman | HVN | $5.92 | +9.4% | +23.1% |
Iluka Resources | ILU | $5.78 | +53.3% | -3.8% |
iShares S&P/ASX Small Ords ETF | ISO | $5.13 | +4.1% | +8.7% |
Kingsgate Consolidated | KCN | $2.68 | +13.6% | +84.8% |
Mineral Resources | MIN | $32.94 | +34.7% | -38.8% |
McMillan Shakespeare | MMS | $17.94 | +9.7% | +1.5% |
Monadelphous Group | MND | $19.79 | +14.3% | +60.5% |
Motorcycle Holdings | MTO | $3.60 | +12.9% | +189.2% |
Vaneck S&P/ASX Midcap ETF | MVE | $43.82 | +4.3% | +12.7% |
Vaneck Small Companies ETF | MVS | $20.86 | +6.6% | +5.2% |
Mystate | MYS | $4.38 | +3.5% | +12.0% |
Newmont Corporation | NEM | $101.14 | +12.0% | +34.7% |
NIB | NHF | $7.53 | +6.2% | +0.1% |
Pinnacle Investment | PNI | $23.03 | +10.6% | +40.4% |
Perenti | PRN | $1.800 | +11.8% | +73.1% |
Peter Warren Automotive | PWR | $1.810 | +22.3% | -0.8% |
Pexa Group | PXA | $16.10 | +25.8% | +13.8% |
Qoria | QOR | $0.635 | +36.6% | +78.9% |
BetaShares Global Robotics & AI ETF | RBTZ | $14.94 | +6.8% | +10.0% |
Global Robotics & Automation ETF | ROBO | $86.17 | +6.1% | +15.9% |
Siteminder | SDR | $5.36 | +15.5% | -4.1% |
Ricegrowers | SGLLV | $12.81 | +23.1% | +44.6% |
Super Retail Group | SUL | $15.57 | +5.3% | -0.1% |
Tasmea | TEA | $3.98 | +17.1% | +154.1% |
Telstra Group | TLS | $5.00 | +3.3% | +26.6% |
Torque Metals. | TOR | $0.255 | +64.5% | +96.2% |
Temple & Webster Group | TPW | $25.07 | +18.8% | +144.3% |
Unibail-Westfield | URW | $7.69 | +8.0% | +33.3% |
Victory Metals | VTM | $1.300 | +55.7% | +233.3% |
Weebit Nano | WBT | $2.42 | +32.2% | +5.2% |
White Cliff Minerals | WCN | $0.028 | +27.3% | +86.7% |
Woodside Energy | WDS | $26.56 | +11.3% | -5.2% |
Wesfarmers | WES | $87.52 | +5.4% | +18.7% |
WIA Gold | WIA | $0.315 | +26.0% | +228.1% |
Zip Co. | ZIP | $3.39 | +10.1% | +68.7% |
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: Aussie Broadband (ASX: ABB), Austal (ASX: ASB), Artrya (ASX: AYA), Cobram Estate Olives (ASX: CBO), Codan (ASX: CDA), Catalyst Metals (ASX: CYL), Elsight (ASX: ELS), Electro Optic Systems (ASX: EOS), Fiducian Group (ASX: FID), Forrestania Resources (ASX: FRS), G50 Corp (ASX: G50), Generation Development Group (ASX: GDG), Harvey Norman (ASX: HVN), Iluka Resources (ASX: ILU), Kingsgate Consolidated (ASX: KCN), Mineral Resources (ASX: MIN), Monadelphous Group (ASX: MND), Motorcycle Holdings (ASX: MTO), Newmont Corporation (ASX: NEM), NIB (ASX: NHF), Siteminder (ASX: SDR), Ricegrowers (ASX: SGLLV), Tasmea (ASX: TEA), Telstra Group (ASX: TLS), Temple & Webster Group (ASX: TPW), Unibail-Rodamco-Westfield (ASX: URW), Wesfarmers (ASX: WES), WIA Gold (ASX: WIA), Zip Co. (ASX: ZIP).
10 Randomly chosen Feature Uptrend Charts:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Australian Clinical Labs | ACL | $2.73 | -0.4% | +6.2% |
Boss Energy | BOE | $1.685 | -57.8% | -53.8% |
Brightstar Resources | BTR | $0.430 | -4.4% | +14.7% |
Fletcher Building | FBU | $2.67 | -5.7% | -4.9% |
Fleetpartners Group | FPR | $2.70 | -11.8% | -20.1% |
Gentrack Group | GTK | $8.97 | -20.7% | -5.1% |
Lotus Resources | LOT | $0.150 | -21.1% | -45.5% |
Mayne Pharma Group | MYX | $4.95 | -2.4% | +16.2% |
The Star Entertainment Group | SGR | $0.082 | -36.9% | -84.8% |
Strike Energy | STX | $0.110 | -24.1% | -45.0% |
Southern Cross Gold | SX2 | $5.41 | -14.8% | 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: Boss Energy (ASX: BOE), Fleetpartners Group (ASX: FPR), Fletcher Building (ASX: FBU), Gentrack Group (ASX: GTK), The Star Entertainment Group (ASX: SGR), Strike Energy (ASX: STX), Southern Cross Gold (ASX: SX2).
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!!!
