ChartWatch ASX Scans: Trump winners critical metals and Defence feature as ARU, ASM, ASB and DFND lead uptrends
Your daily dose of the most interesting uptrends and downtrends on the ASX with technical analysis from an expert.
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Another edition with smallish Uptrends and Downtrends Scans lists. Again, I'm going to say the lack of breadth across the Uptrends Scan List is curious given we just logged another daily gain on the benchmark ASX 200, and have notched a 882 point or 12.3% rally from the 7 April low of 7169.
It just doesn't add up. There should be more uptrends! 🤷 Still, what we lack in quantity, we make up for in quality. There are several high-quality uptrends in today's lists, with three clear themes as far as I can tell.
Firstly, and yes, they have been on a tear lately, critical minerals stocks like Arafura Rare Earths (ARU) and Australian Strategic Materials (ASM). The hope here is that President Trump's upcoming semiconductor review is going to require US chip manufacturers to lock in supplies of these minerals from domestic or trusted sources only.
Next, defence. The Vaneck Global Defence ETF (DFND) has made the list today, as has shipbuilder and defense contractor Austal (ASB). It probably makes sense given the lines of who's best friends with who are presently being redrawn across the globe.
Finally, I propose a bit of a curious one. I've noticed several Consumer Discretionary stocks popping up in the Uptrends Scan List today. The likes of auto retailer Eagers Automotive (APE), electronics and home products retailer Harvey Norman (HVN), and furniture retailer Nick Scali (NCK). Could it be that investors are betting the Australian economy soon be awash with cheap, re-directed Chinese-made household goodies? 🤔
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 % |
|---|---|---|---|---|
Alkane Resources | ALK | $0.780 | +20.9% | +21.9% |
ALS | ALQ | $16.36 | +5.4% | +23.3% |
Eagers Automotive | APE | $18.49 | +16.8% | +41.7% |
Aspen Group | APZ | $3.16 | +19.2% | +84.8% |
Arafura Rare Earths | ARU | $0.205 | +7.9% | +10.8% |
Austal | ASB | $5.22 | +28.9% | +127.0% |
Australian Strategic Materials | ASM | $0.720 | +87.0% | -36.0% |
Barton Gold | BGD | $0.520 | +73.3% | +100.0% |
Bluescope Steel | BSL | $22.93 | +1.0% | -0.3% |
Vaneck Global Defence ETF | DFND | $30.99 | +6.1% | 0% |
Energy One | EOL | $12.70 | +21.3% | +218.3% |
Harvey Norman | HVN | $5.17 | +2.0% | +11.9% |
Imricor Medical Systems | IMR | $1.585 | +2.9% | +196.3% |
Nick Scali | NCK | $17.31 | +5.8% | +24.0% |
Praemium | PPS | $0.755 | +9.4% | +55.7% |
Trigg Minerals | TMG | $0.048 | +50.0% | +500.0% |
Warriedar Resources | WA8 | $0.087 | +38.1% | +89.1% |
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: Eagers Automotive (ASX: APE), Aspen Group (ASX: APZ), Austal (ASX: ASB), Australian Strategic Materials (ASX: ASM), Barton Gold (ASX: BGD), Vaneck Global Defence ETF (ASX: DFND), Warriedar Resources (ASX: WA8).
Charts of each below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Appen | APX | $0.860 | -21.5% | +32.3% |
Coronado Global Resources | CRN | $0.220 | -38.0% | -81.2% |
Cettire | CTT | $0.470 | -45.7% | -84.6% |
EBR Systems | EBR | $1.215 | -38.3% | +34.5% |
Firefly Metals | FFM | $0.775 | -26.2% | +6.2% |
Healthco Healthcare and Wellness Reit | HCW | $0.815 | -11.9% | -32.9% |
Humm Group | HUM | $0.490 | -9.3% | +5.4% |
Lifestyle Communities | LIC | $7.17 | -14.6% | -41.8% |
Lendlease Group | LLC | $5.08 | -16.9% | -22.0% |
The Star Entertainment Group | SGR | $0.105 | -4.5% | -81.4% |
Servcorp | SRV | $4.89 | -9.6% | +18.7% |
Sovereign Metals | SVM | $0.655 | -32.8% | +42.4% |
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:
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.
