ChartWatch ASX Scans: RIO, FMG lead bearish iron ore trends as silver, uranium and critical minerals stocks flourish
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: Boss Energy (BOE), Elevate Uranium (EL8), Estrella Resources (ESR), Green Critical Minerals (GCM), Nyrada (NYR), St George Mining (SGQ), Sun Silver (SS1), Silver Mines (SVL), Telstra (TLS), Unico Silver (USL).
- Interesting downtrends in today's Scans: Avita Medical (AVH), Accent Group (AX1), Collins Foods (CKF), Duratec (DUR), Fortescue (FMG), GQG Partners (GQG), IPD (IPG), Kogan.Com (KGN), Perpetual (PPT), Redox (RDX), Rio Tinto (RIO), Select Harvests (SHV).
Very evenly matched Uptrends and Downtrends Scan lists today, and 14 Feature Charts a piece. It's kind of the trend follower's best case scenario – plenty of long opportunities to choose from and plenty of short opportunities to choose from ✅✅.
And given there's more than just a little bit of uncertainty creeping back into the market narrative, perhaps the prevalence of short opportunities is a very good thing.
As for the headline of this article, indeed if we're talking standouts on the Downtrends Scan List, iron ore majors Fortescue (FMG) and Rio Tinto (RIO) certainly fit the bill for candidates to add some short exposure to, and therefore balance one's long-side holdings. I also note several other options like AMP, Accent Group (AX1), Collins Foods (CKF), HMC Capital (HMC), and Kogan.com (KGN) that are probably long term holdings in many Aussie investors' portfolios.
The rest of the headline refers to a group of stocks that are also investor favourites, but are increasingly showing up in clusters in the Uptrends Scan Lists. I am of course referring to ASX uranium and silver stocks. I covered the uranium technicals in ChartWatch Tuesday's Evening Wrap and also conducted a broad sector review in this article. I covered silver's daily, weekly, and monthly technicals in ChartWatch Wednesday's Evening Wrap.
In that update, I used the phrase, "This is one of my favourite charts at the moment, and the weekly and monthly charts below are even more tantalising," or words to that effect! 🚀
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 % |
|---|---|---|---|---|
Astral Resources | AAR | $0.190 | +22.6% | +150.0% |
Aura Energy | AEE | $0.170 | +47.8% | +30.8% |
Alligator Energy | AGE | $0.040 | +48.1% | -25.9% |
APA Group | APA | $8.48 | +2.7% | +1.6% |
Aspen Group | APZ | $3.78 | +16.3% | +112.4% |
Aurum Resources | AUE | $0.525 | +16.7% | +29.6% |
Boss Energy | BOE | $4.66 | +30.2% | +12.6% |
Brazilian Rare Earths | BRE | $2.42 | +28.7% | -25.5% |
Brambles | BXB | $23.20 | +6.9% | +59.8% |
Catapult Group International | CAT | $5.90 | +41.1% | +222.4% |
Codan | CDA | $19.98 | +17.9% | +75.1% |
Chalice Mining | CHN | $1.545 | +43.1% | +15.3% |
EDU | EDU | $0.305 | +79.4% | +60.5% |
Elevate Uranium | EL8 | $0.350 | +18.6% | -20.5% |
Estrella Resources | ESR | $0.052 | +44.4% | +1200.0% |
Green Critical Minerals | GCM | $0.025 | +78.6% | +257.1% |
Genusplus Group | GNP | $3.59 | +15.4% | +92.0% |
Iperionx | IPX | $4.58 | +44.0% | +130.7% |
Kingsgate Consolidated | KCN | $2.44 | +30.5% | +56.4% |
Kina Securities | KSL | $1.230 | +7.9% | +27.5% |
MTM Critical Metals | MTM | $0.675 | +193.5% | +1434.1% |
Nyrada | NYR | $0.260 | +147.6% | +319.4% |
Pexa Group | PXA | $13.28 | +5.5% | -8.2% |
Resmed Inc | RMD | $38.91 | +0.1% | +21.9% |
St George Mining | SGQ | $0.032 | +23.1% | +39.1% |
SPDR S&P/ASX 200 Listed Property Fund ETF | SLF | $14.11 | +5.4% | +10.7% |
Sun Silver | SS1 | $0.830 | +37.2% | +53.7% |
Silver Mines | SVL | $0.135 | +51.7% | -20.6% |
Telstra Group | TLS | $4.91 | +7.7% | +40.3% |
TPG Telecom | TPG | $5.44 | +5.4% | +16.5% |
Unico Silver | USL | $0.295 | +34.1% | +107.0% |
Viridis Mining and Minerals | VMM | $0.490 | +63.3% | -69.8% |
Warriedar Resources | WA8 | $0.135 | +35.0% | +187.2% |
Wagners Holding Company | WGN | $2.03 | -5.6% | +167.1% |
Xero | XRO | $193.56 | +6.7% | +47.8% |
Zip Co. | ZIP | $2.76 | +40.1% | +109.9% |
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: Boss Energy (ASX: BOE), EDU (ASX: EDU), Elevate Uranium (ASX: EL8), Estrella Resources (ASX: ESR), Green Critical Minerals (ASX: GCM), Nyrada (ASX: NYR), St George Mining (ASX: SGQ), Sun Silver (ASX: SS1), Silver Mines (ASX: SVL), Telstra Group (ASX: TLS), Unico Silver (ASX: USL), Viridis Mining and Minerals (ASX: VMM), Warriedar Resources (ASX: WA8), Zip Co. (ASX: ZIP).
10 Randomly chosen Feature Uptrend Charts below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Australian Clinical Labs | ACL | $2.73 | -11.9% | +11.0% |
AMP | AMP | $1.215 | -8.0% | +14.1% |
Amotiv | AOV | $7.54 | -4.8% | -27.4% |
Avita Medical | AVH | $1.590 | -22.4% | -38.8% |
Accent Group | AX1 | $1.300 | -33.0% | -33.7% |
Collins Foods | CKF | $7.32 | -11.7% | -20.3% |
Cromwell Property Group | CMW | $0.345 | -9.2% | -17.9% |
Cosol | COS | $0.480 | -34.9% | -58.1% |
Duratec | DUR | $1.360 | -13.4% | +22.0% |
Dexus | DXS | $6.81 | -3.9% | +4.9% |
Fortescue | FMG | $15.03 | -7.1% | -35.2% |
GQG Partners | GQG | $2.04 | -9.7% | -26.1% |
GWA Group | GWA | $2.22 | -5.5% | 0% |
HMC Capital | HMC | $4.70 | -15.8% | -36.2% |
Humm Group | HUM | $0.435 | -17.1% | +7.4% |
Infomedia | IFM | $1.155 | -11.2% | -26.2% |
Imugene | IMU | $0.013 | -38.1% | -77.6% |
Ioneer | INR | $0.100 | -20.0% | -39.4% |
IPD Group | IPG | $2.91 | -19.6% | -31.7% |
IPH | IPH | $4.54 | -7.9% | -28.3% |
Kogan.Com | KGN | $3.79 | -16.2% | -14.6% |
Novonix | NVX | $0.400 | -20.8% | -38.5% |
Orora | ORA | $1.795 | -6.3% | -8.2% |
Perpetual | PPT | $17.17 | -3.7% | -20.3% |
Redox | RDX | $2.09 | -29.2% | -34.3% |
Rio Tinto | RIO | $106.00 | -11.3% | -11.8% |
Select Harvests | SHV | $4.33 | -9.4% | +26.4% |
Skycity Entertainment Group | SKC | $0.855 | -5.5% | -36.4% |
Weebit Nano | WBT | $1.670 | -1.8% | -25.1% |
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: Amotiv (ASX: AOV), Avita Medical (ASX: AVH), Accent Group (ASX: AX1), Collins Foods (ASX: CKF), Duratec (ASX: DUR), Fortescue (ASX: FMG), GQG Partners (ASX: GQG), IPD Group (ASX: IPG), IPH (ASX: IPH), Kogan.Com (ASX: KGN), Perpetual (ASX: PPT), Redox (ASX: RDX), Rio Tinto (ASX: RIO), Select Harvests (ASX: SHV).
10 Randomly chosen Feature Downtrend Charts 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.
