ChartWatch ASX Scans Uncertain Times Special: Defence stocks Droneshield and Elsight join raft of critical minerals plays

It's not a new theme here in ChartWatch ASX Scans, but in the Uptrends Scan List below, you'll find several defence-related and critical minerals plays.

These are uncertain times. But as the old saying goes: When the going gets tough, the tough get going. Or in technical analysis parlance: If it's going up, buy it 📈✅.

Being tough, or let's say the version of tough that is fearless in the face of something that is just and right is admirable. Again, if it's going up, fear not how much it has already gone up (it's done that for the very good reason of demand exceeds supply) and add some risk. Manage that risk, of course, but don't be afraid to follow the trend and add it.

On the other hand, the version of being tough that sees one belligerently hold on to a losing stock in the faith that one's original premise is right, or in the blind hope that the market will bounce enough to deliver the break even we now so desperately crave – is not tough in my view – it's just plain silly 🤦.

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

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: Aspen Group (ASX: APZ), Autosports Group (ASX: ASG), Antipa Minerals (ASX: AZY), Black Cat Syndicate (ASX: BC8), EDU (ASX: EDU), Elevate Uranium (ASX: EL8), Elsight (ASX: ELS), James Bay Minerals (ASX: JBY), Karoon Energy (ASX: KAR), Monadelphous Group (ASX: MND), Native Mineral Resources (ASX: NMR), Sandfire Resources (ASX: SFR), Shape Australia Corporation (ASX: SHA), BetaShares Global Uranium ETF (ASX: URNM).

10 Randomly chosen Feature Charts below:

Downtrends Scan List

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: Ansell (ASX: ANN), Avita Medical (ASX: AVH), Cosol (ASX: COS), Clinuvel Pharmaceuticals (ASX: CUV), Domino's Pizza Enterprises (ASX: DMP), Healius (ASX: HLS), Lifestyle Communities (ASX: LIC), Lycopodium (ASX: LYL), Vulcan Steel (ASX: VSL), Vulcan Energy Resources (ASX: VUL).

Charts of each Feature Chart below:

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.