ChartWatch ASX Scans: Platinum, Asia and emerging markets, semiconductors, property - it's an ETF bonanza!
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: Ausgold (AUC), Digitalx (DCC), Develop Global (DVP), Eroad (ERD), Physical Platinum ETF (ETPMPT), Mirvac Group (MGR), Ridley Corporation (RIC), Semiconductor ETF (SEMI), Stockland (SGP), Tabcorp (TAH), Webjet (WJL).
- Interesting downtrends in today's Scans: Australian Clinical Labs (ACL), Austin Engineering (ANG), Appen (APX), Avita Medical (AVH), Botanix Pharma (BOT), Beach Energy (BPT), CSL (CSL), IDP Education (IEL), Lotus Resources (LOT), Wildcat Resources (WC8).
Following on from our discussion in yesterday's edition regarding the paradigm shift that must come with respect to one's understanding of what is cheap and expensive in a chart, I want you to now think about large and sudden stock price moves.
First consider a large and sudden up-move, for example, upon the release of strong company results, the securing of a new contract, or some other pivotal piece of news that's widely assumed to be complimentary to a company's future earnings. Take for example recent corresponding moves in the Feature Uptrend charts of DVP, ERD, TAH and WJL below.
Many would view the huge appreciation following these moves as making the respective stocks too expensive – after all, when bananas shoot up to $10/kg after a cyclone in QLD we all cry out about how expensive they are! But that's just not how it works in the stock market.
Also consider that after massive falls, often on a news development that's widely assumed to be detrimental to a company's future earnings, many look at the stock and say, "Ooh, that look cheap now!" After all, we're trained to perceive a sudden large drop in the price of something as making it a bargain – SALE! SALE! SALE! UP TO 50% OFF!. But that's just not how it works in the market.
Here, I suggest you look at corresponding falls in the Feature Downtrend charts of ACL, APX, AVH, BPT, CSL, and IEL below.
What do you generally notice happens after the big up-moves and after the big down-moves? 🤔 Aha! Now you're starting to think like the market, and not like a mug punter!
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 % |
|---|---|---|---|---|
Arena Reit. | ARF | $3.97 | +2.6% | +4.2% |
Abacus Storage King | ASK | $1.560 | +4.0% | +27.9% |
Ausgold | AUC | $0.725 | +6.6% | +126.6% |
Cobram Estate Olives | CBO | $2.10 | +12.9% | +11.1% |
Codan | CDA | $18.44 | +11.4% | +69.5% |
Challenger | CGF | $7.93 | +10.6% | +18.5% |
Centuria Industrial Reit | CIP | $3.20 | +4.2% | 0% |
COG Financial Services | COG | $1.560 | +8.7% | +36.8% |
Digitalx | DCC | $0.082 | +28.1% | +60.6% |
Develop Global | DVP | $4.53 | +29.4% | +105.0% |
Eroad | ERD | $1.460 | +92.1% | +78.0% |
Global X Physical Platinum ETF | ETPMPT | $177.86 | +23.9% | +29.0% |
Graincorp | GNC | $7.92 | +13.5% | -12.8% |
iShares Asia 50 ETF | IAA | $124.18 | +6.7% | +24.5% |
iShares MSCI Emerging Markets ETF | IEM | $73.69 | +3.5% | +15.7% |
IVE Group | IGL | $2.66 | -1.5% | +39.3% |
iShares MSCI South Korea ETF | IKO | $106.90 | +14.5% | +6.4% |
iShares China Large-Cap ETF | IZZ | $57.05 | +4.8% | +40.6% |
Lion Selection Group | LSX | $0.915 | +32.6% | +108.0% |
Mirvac Group | MGR | $2.39 | +1.7% | +19.8% |
MTM Critical Metals | MTM | $0.510 | +104.0% | +940.8% |
Metcash | MTS | $3.64 | +9.3% | -5.2% |
National Storage Reit | NSR | $2.42 | +3.4% | +5.7% |
Ridley Corporation | RIC | $2.86 | +24.1% | +41.0% |
Rpmglobal | RUL | $3.19 | +13.5% | +17.3% |
Global X Semiconductor ETF | SEMI | $17.83 | +11.4% | -1.3% |
Stockland | SGP | $5.66 | +1.1% | +23.3% |
Shape Australia Corporation | SHA | $3.54 | +9.6% | +63.1% |
SPDR S&P/ASX 200 Listed Property ETF | SLF | $14.17 | +4.7% | +9.4% |
Super Retail Group | SUL | $14.51 | +2.4% | +12.8% |
Tabcorp | TAH | $0.745 | +8.8% | +23.1% |
Vicinity Centres | VCX | $2.54 | +5.0% | +31.9% |
Webjet | WJL | $0.930 | +6.9% | 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: Ausgold (ASX: AUC), Digitalx (ASX: DCC), Develop Global (ASX: DVP), Eroad (ASX: ERD), Global X Physical Platinum ETF (ASX: ETPMPT), iShares Asia 50 ETF (ASX: IAA), iShares MSCI Emerging Markets ETF (ASX: IEM), Mirvac Group (ASX: MGR), Ridley Corporation (ASX: RIC), Rpmglobal (ASX: RUL), Global X Semiconductor ETF (ASX: SEMI), Stockland (ASX: SGP), Shape Australia Corporation (ASX: SHA), Tabcorp (ASX: TAH), Webjet (ASX: WJL).
10 Randomly picked Feature Charts below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Australian Clinical Labs | ACL | $2.75 | -8.9% | +20.1% |
Austin Engineering | ANG | $0.320 | -16.9% | -39.0% |
Appen | APX | $1.050 | +11.1% | +103.9% |
Avita Medical | AVH | $1.815 | -21.1% | -35.9% |
Accent Group | AX1 | $1.800 | -6.5% | -8.9% |
Botanix Pharmaceuticals | BOT | $0.320 | -21.0% | +10.3% |
Beach Energy | BPT | $1.235 | -2.0% | -24.2% |
Coronado Global Resources | CRN | $0.165 | -2.9% | -86.6% |
CSL | CSL | $240.85 | +2.4% | -16.8% |
Helloworld Travel | HLO | $1.455 | -7.9% | -32.3% |
HMC Capital | HMC | $4.83 | -10.2% | -35.3% |
Integral Diagnostics | IDX | $2.29 | -7.7% | -6.9% |
IDP Education | IEL | $3.56 | -63.9% | -75.5% |
Iluka Resources | ILU | $3.77 | -9.2% | -47.1% |
Immutep | IMM | $0.270 | -6.9% | -36.5% |
Imugene | IMU | $0.015 | -31.8% | -74.6% |
IPD Group | IPG | $3.00 | -22.7% | -30.2% |
Lotus Resources | LOT | $0.160 | -11.1% | -64.4% |
Novonix | NVX | $0.415 | -21.0% | -41.5% |
Orora | ORA | $1.855 | -2.4% | -15.3% |
Polynovo | PNV | $1.305 | -10.6% | -42.5% |
Strike Energy | STX | $0.155 | -18.4% | -24.4% |
Vulcan Energy Resources | VUL | $4.13 | -11.8% | -15.5% |
Wildcat Resources | WC8 | $0.135 | -27.0% | -64.0% |
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: Australian Clinical Labs (ASX: ACL), Austin Engineering (ASX: ANG), Appen (ASX: APX), Avita Medical (ASX: AVH), Botanix Pharmaceuticals (ASX: BOT), Beach Energy (ASX: BPT), CSL (ASX: CSL), IDP Education (ASX: IEL), Lotus Resources (ASX: LOT), 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.
