ChartWatch ASX Scans: Pilbara Minerals, Iluka, Champion Iron, Cettire and Coronado Resources resume relentless downtrends
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: AMA Group (AMA), AUB Group (AUB), REA Group (REA), SRG Global (SRG), Unibail-Rodamco-Westfield (URW), Wagners Holding Company (WGN).
- Interesting downtrends in today's Scans: Champion Iron (CIA), Coronado (CRN), Cettire (CTT), Clarity Pharmaceuticals (CU6), Domino's Pizza (DMP), Iluka (ILU), Pilbara Minerals (PLS), Skycity Entertainment (SKC), Weebit Nano (WBT), Wildcat Resources (WC8).
There's an old saying about trends among technical analysts: "The trend is your friend until it bends".
I'd argue that bending is still pretty friendly, because at least we can discern via moderating trends, price action, and candles that prevailing trends are potentially coming to an end. Once we have determined this, we can reduce our risk accordingly.
Because to hold on to all of our starting risk after we've identified the trend has bended is foolish ⚠️.
And if that's the definition of foolish, then holding on after the trend has ended must be the definition of deadly ⚰️.
Take the stocks in our Feature Downtrends. They are a cohort of serial disappointers, I'm talking Pilbara Minerals (PLS), Iluka Resources (ILU), Champion Iron (CIA), Cettire (CTT) and Coronado Global Resources (CRN) to name a few...
Those who read the signs when each of these respective trends were bending all those months ago (and years in some cases), would have extricated themselves from potentially deadly subsequent declines. Still, looking at each of their respective charts below, if one is still holding these stocks, then what is one waiting for?
I mean, bend, end...What comes next!? 🤔
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 % |
|---|---|---|---|---|
AMA Group | AMA | $0.088 | +31.3% | +105.0% |
AUB Group | AUB | $35.54 | +16.4% | +13.7% |
Antipa Minerals | AZY | $0.550 | +2.8% | +400.0% |
Commonwealth Bank of Australia | CBA | $171.36 | +8.4% | +42.9% |
Computershare | CPU | $41.31 | +10.2% | +53.8% |
Global X Defence Tech ETF | DTEC | $15.15 | +7.8% | 0% |
Develop Global | DVP | $3.68 | +41.0% | +62.1% |
Elsight | ELS | $0.560 | +41.8% | +55.6% |
Inghams Group | ING | $3.88 | +17.9% | +0.3% |
JB HI-FI | JBH | $104.17 | +7.1% | +81.6% |
Magellan Infrastructure Fund (Hedged)(Managed Fund) ETF | MICH | $3.09 | +7.7% | +10.4% |
REA Group | REA | $252.26 | +7.0% | +33.7% |
SRG Global | SRG | $1.455 | +16.4% | +68.2% |
The Lottery Corporation | TLC | $5.33 | +7.5% | +4.4% |
Unibail-Rodamco-Westfield | URW | $6.85 | +13.2% | +7.9% |
Wagners Holding Company | WGN | $2.15 | +33.5% | +147.1% |
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), AUB Group (ASX: AUB), REA Group (ASX: REA), SRG Global (ASX: SRG), Unibail-Rodamco-Westfield (ASX: URW), Wagners Holding Company (ASX: WGN).
Charts of each below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
ANZ Group | ANZ | $28.40 | +2.8% | +2.6% |
Avita Medical | AVH | $2.05 | -26.3% | -21.5% |
Champion Iron | CIA | $4.41 | +3.3% | -39.1% |
Coronado Global Resources | CRN | $0.170 | -27.7% | -84.9% |
Cettire | CTT | $0.505 | -26.3% | -82.8% |
Clarity Pharmaceuticals | CU6 | $2.18 | +19.1% | -43.2% |
Clinuvel Pharmaceuticals | CUV | $10.63 | -1.2% | -29.5% |
Domino's Pizza Enterprises | DMP | $24.55 | -7.8% | -36.9% |
IDP Education | IEL | $9.05 | +2.4% | -46.8% |
Iluka Resources | ILU | $3.84 | +6.1% | -50.6% |
IPD Group | IPG | $3.62 | -5.5% | -18.1% |
Pilbara Minerals | PLS | $1.405 | 0% | -64.7% |
Skycity Entertainment Group | SKC | $0.905 | -13.8% | -40.7% |
Sovereign Metals | SVM | $0.625 | -13.2% | +21.4% |
Weebit Nano | WBT | $1.700 | -0.6% | -29.2% |
Wildcat Resources | WC8 | $0.160 | -13.5% | -71.4% |
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: Champion Iron (ASX: CIA), Coronado Global Resources (ASX: CRN), Cettire (ASX: CTT), Clarity Pharmaceuticals (ASX: CU6), Domino's Pizza Enterprises (ASX: DMP), Iluka Resources (ASX: ILU), Pilbara Minerals (ASX: PLS), Skycity Entertainment Group (ASX: SKC), Weebit Nano (ASX: WBT), Wildcat Resources (ASX: WC8).
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.
