Evening Wrap: ASX 200 up on solid gains in CBA, WES, and XRO - it's starting to feel a lot like a bull market again!
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/ChartWatch ASX Scans: Small cap gold stocks AUC, KNB, TMG, WA8 and WIA picks of the bunch
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Technical Analysis
/ChartWatch ASX Scans: Small cap gold stocks AUC, KNB, TMG, WA8 and WIA picks of the bunch
Technical Analysis
ChartWatch ASX Scans: Small cap gold stocks AUC, KNB, TMG, WA8 and WIA picks of the bunch
Tue 06 May 25, 9:15am (AEST)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scans: The A2 Milk Company (A2M), Fineos Corporation (FCL), Koonenberry Gold (KNB), Sigma Healthcare (SIG), Warriedar Resources (WA8).
- Interesting downtrends in today's Scans: Collins Foods (CKF), Coronado (CRN), Domino's Pizza (DMP), Firefly Metals (FFM), G8 Education (GEM), Judo Capital (JDO), Jumbo Interactive (JIN), Lendlease (LLC), Nuix (NXL), Siteminder (SDR), Yancoal (YAL).
One not so great day on the index and we're back to slim pickings in the Uptrends Scan List, and a swelling of credible short sell opportunities in the Downtrends Scan List. As Chrissy Amphlett of legendary 80's Aussie rock band The Divinyls once said, "It's a fine line between pleasure and pain".
The Uptrends lists features several interesting charts of small gold explorers in Ausgold (AUC), Koonenberry Gold (KNB), Trigg Minerals (TMG), Warriedar Resources (WA8) and WIA Gold (WIA). To be fair, TMG is more antimony-gold rather than just plain gold, but I couldn't figure out a concise way to fit the word "antimony" into today's title!
Looking at the charts of KNB and WA8 in particular, it could be argued they're beginning to go vertical. KNB was first run as a ChartWatch Feature Uptrend (i.e., highest conviction) on the 28 March candle (close price $0.045) and WA8 on the 25 March candle (close price $0.063).
Both have roughly doubled. Which brings us to the conundrum that trend following represents for most investors...the unavoidable question of: Am I too late? 🤔
I don't know how much is left in the run of either stock – because I cannot tell the future – yet I run them both as Feature Uptrends again today with exactly the same conviction I had for them on the first days they were respectively run. (A bit like the conviction I have for poor old Coronado Global Resources (CRN) – extending its record of Feature Downtrend appearances by +1!).
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
The A2 Milk Company | A2M | $8.60 | +9.0% | +44.1% |
Ausgold | AUC | $0.560 | -0.9% | +69.7% |
Energy One | EOL | $12.75 | +18.6% | +216.4% |
Fineos Corporation | FCL | $2.58 | +25.9% | +43.3% |
Intelligent Monitoring Group | IMB | $0.590 | +20.4% | +63.9% |
Koonenberry Gold | KNB | $0.092 | +124.4% | +293.7% |
Peet | PPC | $1.575 | +10.9% | +32.4% |
Qube | QUB | $4.11 | +4.6% | +25.3% |
Sigma Healthcare | SIG | $3.15 | +10.5% | +149.0% |
Trigg Minerals | TMG | $0.047 | +51.6% | +487.5% |
Warriedar Resources | WA8 | $0.115 | +85.5% | +161.4% |
WIA Gold | WIA | $0.200 | +17.6% | +100.0% |
Today's Uptrends Scan List
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
Audinate Group | AD8 | $6.04 | -2.6% | -66.5% |
Austin Engineering | ANG | $0.400 | -7.0% | -18.4% |
Breville Group | BRG | $28.73 | -8.2% | +14.3% |
Collins Foods | CKF | $8.10 | -6.1% | -17.0% |
Coronado Global Resources | CRN | $0.165 | -50.0% | -85.5% |
Cettire | CTT | $0.445 | -45.1% | -84.9% |
Domino's Pizza Enterprises | DMP | $25.19 | +1.2% | -36.0% |
Firefly Metals | FFM | $0.760 | -16.5% | -12.6% |
G8 Education | GEM | $1.245 | -5.0% | +3.8% |
Galan Lithium | GLN | $0.100 | -9.1% | -73.7% |
Horizon Oil | HZN | $0.180 | -18.2% | 0% |
Judo Capital | JDO | $1.445 | -21.3% | +9.1% |
Jumbo Interactive | JIN | $10.05 | -2.0% | -36.0% |
Lendlease Group | LLC | $5.13 | -14.2% | -18.4% |
Liontown Resources | LTR | $0.505 | -13.7% | -58.8% |
Nuix | NXL | $2.37 | -21.8% | +16.7% |
Siteminder | SDR | $3.83 | -11.1% | -31.7% |
Spark New Zealand | SPK | $1.930 | +2.1% | -55.1% |
Santos | STO | $5.84 | -13.7% | -22.5% |
Sovereign Metals | SVM | $0.635 | -18.6% | +30.9% |
Woodside Energy Group | WDS | $19.87 | -15.5% | -27.7% |
WEB Travel Group | WEB | $4.14 | -9.0% | -41.9% |
Yancoal Australia | YAL | $4.72 | -7.5% | -14.8% |
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: Austin Engineering (ASX: ANG), Collins Foods (ASX: CKF), Coronado Global Resources (ASX: CRN), Domino's Pizza Enterprises (ASX: DMP), Firefly Metals (ASX: FFM), G8 Education (ASX: GEM), Judo Capital (ASX: JDO), Jumbo Interactive (ASX: JIN), Lendlease Group (ASX: LLC), Nuix (ASX: NXL), Siteminder (ASX: SDR), Yancoal Australia (ASX: YAL).
Charts of each below:
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.
Carl has over 30-year's investing experience, helping investors navigate several bull and bear markets over this time. He is a well respected markets commentator who specialises in how the global macro impacts Australian and US equities. Carl has a passion for technical analysis and has taught his unique brand of price-action trend following to thousands of Aussie investors.
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