ChartWatch ASX Scans: Quality not quantity as Domino's Pizza, Lend Lease, IDP Education, Star Entertainment and Cettire feature
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: COG Financial Services (COG), Solvar (SVR).
- Interesting downtrends in today's Scans: Bellevue Gold (BGL), Cettire (CTT), Domino's Pizza Enterprises (DMP), Elanor Commercial Property Fund (ECF), Lendlease Group (LLC), The Star Entertainment Group (SGR).
Wow! That's a small Uptrends Scan List for such a good day on the benchmark ASX 200 index (yesterday) 🤏.
I also think that's the smallest ever number of Feature Uptrends (i.e., highest conviction) since ChartWatch ASX Scans started 11 months ago: Two ✌️. Just two I can say that I have the highest level of conviction in their prevailing uptrends.
The main reason for this possible discrepancy – i.e., between the seemingly improved performance at a benchmark level versus near-total lack of high conviction uptrends – is largely due to two reasons:
The Trump trade war correction destroyed so many great uptrends that simply haven't recovered enough in terms of their short term trends, price action, and candles to warrant inclusion in the Uptrends Scan List, let alone in the Feature Uptrends; and
Gold stocks were massacred yesterday.
The latter point, i.e., the demise of so many gold stocks' short term uptrends – now punctuated by long black candles with closes at the low of their respective trading sessions – has eliminated from contention dozens of Uptrends Scan Lists stalwarts.
Oh well, nothing lasts forever in markets! If there is a consolation, it's in the fact there aren't many constituents in today's Downtrends Scan Lists, either, and there's only 6 Feature Downtrends.
Still, what that list lacks in quantity is made up for in quality. Domino's Pizza Enterprises (DMP) (33 times Feature Downtrend), Cettire (CTT) (30 times Feature Downtrend), and IDP Education (IEL) (30 times Feature Downtrend) each deserve a shout-out for all the wrong reasons 😭.
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 | $0.066 | +37.5% | +50.6% |
Austal | ASB | $5.08 | +19.2% | +118.0% |
ASX | ASX | $69.89 | +5.9% | +11.8% |
COG Financial Services | COG | $1.390 | +44.8% | +2.2% |
Echoiq | EIQ | $0.320 | +6.7% | +204.8% |
iShares Global Consumer Staples ETF | IXI | $103.60 | +4.3% | +14.3% |
Megaport | MP1 | $10.38 | -1.8% | -23.6% |
Stealth Group | SGI | $0.850 | +18.9% | +209.1% |
Sigma Healthcare | SIG | $3.07 | +7.0% | +140.8% |
Supply Network | SNL | $38.10 | +0.8% | +93.4% |
Service Stream | SSM | $1.815 | +1.4% | +41.8% |
Solvar | SVR | $1.600 | +20.3% | +60.8% |
Vicinity Centres | VCX | $2.32 | +6.4% | +21.8% |
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: COG Financial Services (ASX: COG), Solvar (ASX: SVR).
Charts of each below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Bellevue Gold | BGL | $0.855 | -26.6% | -54.6% |
Cettire | CTT | $0.495 | -45.6% | -84.0% |
Domino's Pizza Enterprises | DMP | $24.99 | -6.5% | -33.0% |
Elanor Commercial Property Fund | ECF | $0.535 | -12.3% | -21.6% |
Healthco Healthcare and Wellness Reit | HCW | $0.830 | -6.7% | -24.5% |
IDP Education | IEL | $8.22 | -13.2% | -50.0% |
Lendlease Group | LLC | $5.25 | -15.2% | -14.6% |
Macquarie Technology Group | MAQ | $56.75 | -16.5% | -30.8% |
Mineral Resources | MIN | $17.21 | -24.4% | -74.8% |
Nuix | NXL | $2.35 | -27.7% | +20.5% |
Paradigm Biopharmaceuticals. | PAR | $0.275 | -34.5% | -8.3% |
Resmed Inc | RMD | $33.25 | -5.3% | +19.1% |
South32 | S32 | $2.65 | -24.9% | -16.9% |
The Star Entertainment Group | SGR | $0.105 | -16.0% | -81.7% |
WEB Travel Group | WEB | $4.10 | -9.9% | -42.4% |
Whitehaven Coal | WHC | $4.78 | -16.4% | -39.3% |
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: Bellevue Gold (ASX: BGL), Cettire (ASX: CTT), Domino's Pizza Enterprises (ASX: DMP), Elanor Commercial Property Fund (ASX: ECF), Lendlease Group (ASX: LLC), The Star Entertainment Group (ASX: SGR).
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.
