ChartWatch ASX Scans: Telix Pharmaceuticals back in winners list, IDP Education and Star Entertainment stuck in sinners list
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: Energy One (EOL), Pantoro (PNR), Saturn Metals (STN), Solvar (SVR), Turaco Gold (TCG), Telix Pharmaceuticals (TLX), TPG Telecom (TPG), Warriedar Resources (WA8), WIA Gold (WIA).
- Interesting downtrends in today's Scans: Coronado Global Resources (CRN), IDP Education (IEL), Lendlease Group (LLC), Redox (RDX), The Star Entertainment Group (SGR).
A few more in the Uptrends Scan List today compared to Thursday's dismal effort of two! A total of 9, but once again, I stress the importance of quality over quantity. I carefully curate these lists, attempting to include only the strongest uptrends and strongest downtrends on the ASX.
It remains a curiosity, however, that there aren't substantially more uptrends to choose from as the benchmark ASX 200 has now logged a second strong week of gains in its steady recovery from the Trump Trade War selloff.
Telix Pharmaceuticals (TLX) makes a welcome return to the Feature Uptrends cohort, absent since 24 March (previously appearing 20 times since ChartWatch ASX Scans began last May). It's joined the second-most frequent constituent of that list in Catalyst Metals (CYL) (42 times Feature Uptrend), and relative newcomer in Energy One (EOL) (11 times Feature Uptrend).
Also as was the case last update, it is encouraging that the Downtrends Scan List is similarly sparse. This time, I have to say, possibly the most sparse I've ever seen it with just 6 in attendance.
Of those 6, however, there are some serial underperformers in the form of Star Entertainment Group (SGR) (20 times Feature Downtrend), Lendlease (LLC) (17 time Feature Downtrend), IDP Education (IEL) (32 times Feature Downtrend), and the undisputed King of Top Left-Bottom Right, Coronado Global Resources (CRN) (50 times Feature Downtrend).
On CRN, I made a big deal about Commonwealth Bank of Australia (CBA) knocking its half-century of appearances in Feature Uptrends on Thursday, but given CRN has been an unmitigated disaster for its shareholders, perhaps a more sombre tone is required for its milestone.
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 % |
|---|---|---|---|---|
Charter Hall Retail Reit | CQR | $3.74 | +6.9% | +11.6% |
Catalyst Metals | CYL | $6.56 | +42.6% | +735.7% |
Energy One | EOL | $11.89 | +14.3% | +198.0% |
Fleetwood | FWD | $2.69 | +19.6% | +87.5% |
IVE Group | IGL | $2.47 | +2.9% | +17.1% |
Pantoro | PNR | $3.05 | +8.7% | +106.2% |
SRG Global | SRG | $1.290 | +12.2% | +60.2% |
Saturn Metals | STN | $0.325 | +14.0% | +51.2% |
Solvar | SVR | $1.590 | +19.5% | +58.2% |
Southern Cross Gold | SX2 | $5.73 | +27.6% | 0% |
Southern Cross Electrical Engineering | SXE | $1.825 | +17.4% | +54.7% |
Turaco Gold | TCG | $0.440 | +27.5% | +144.4% |
Telix Pharmaceuticals | TLX | $28.56 | -2.2% | +109.8% |
TPG Telecom | TPG | $4.96 | -0.2% | +15.9% |
Vicinity Centres | VCX | $2.33 | +6.9% | +21.4% |
Warriedar Resources | WA8 | $0.080 | +40.4% | +66.7% |
WIA Gold | WIA | $0.200 | +25.0% | +112.8% |
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: Energy One (ASX: EOL), Pantoro (ASX: PNR), Saturn Metals (ASX: STN), Solvar (ASX: SVR), Turaco Gold (ASX: TCG), Telix Pharmaceuticals (ASX: TLX), TPG Telecom (ASX: TPG), Warriedar Resources (ASX: WA8), WIA Gold (ASX: WIA).
Charts of each below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Coronado Global Resources | CRN | $0.225 | -36.6% | -81.3% |
IDP Education | IEL | $8.15 | -14.9% | -50.1% |
Jumbo Interactive | JIN | $10.10 | -5.3% | -37.0% |
Lendlease Group | LLC | $5.22 | -15.5% | -18.4% |
Redox | RDX | $2.71 | -0.4% | -10.0% |
The Star Entertainment Group | SGR | $0.105 | -8.7% | -81.6% |
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: Coronado Global Resources (ASX: CRN), IDP Education (ASX: IEL), Lendlease Group (ASX: LLC), Redox (ASX: RDX), 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.
