ChartWatch ASX Scans: WDS, STO, KAR, BPT – the ASX Energy sector is crumbling – but gold is still golden
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: Artrya (AYA), Global X Silver (ETPMAG), Fortescue (FMG), Vaneck Gold Miners ETF (GDX), Golden Horse Minerals (GHM), Global X Gold (GOLD), Rio Tinto (RIO), Stockland (SGP), Silex (SLX), Sunrise Energy Metals (SRL).
- Interesting downtrends in today's Scans: Boss Energy (BOE), Beach Energy (BPT), Insurance Australia (IAG), Karoon Energy (KAR), Kogan.Com (KGN), Lifestyle Communities (LIC), QBE Insurance (QBE), Santos (STO), Suncorp (SUN), Woodside (WDS), Wisetech (WTC).
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Things can change quickly in the markets. One day (e.g., after Thursday's candle) you're setting a new record high, and there's nearly 9 Uptrends Scan List constituents for every one Downtrends Scan List constituent...
And the next (e.g., after Friday candle) you're at even-money with respect to stocks that potentially require adding risk versus those that potentially require culling it. 42 to 41 to be precise, today, but I note that three Uptrends Scan List constituents are actually bond and credit ETFs – and this means defence – not offence!
FYI, bonds are safe haven assets you usually shift cash that was in the stock market into! ⚠️
That's a stunning turnaround from bullish to bearish in just one candle – buy hey – the good news is that there are 83 fantastic trends to choose from: All high quality trading opportunities in my opinion.
That is, if you have the ability to go both long and short – and given markets have the tendency to rise and fall – why wouldn't you!? 🤔
As for Feature Charts – those too were locked at 24 a piece. These are my highest conviction trends.
As for themes, clearly gold and precious metals stocks and ETFs continue to dominate the uptrends (hmmm... also a very defensive asset class!), and in the downtrends – energy stocks were the clear losers:
Boss Energy (BOE)
Beach Energy (BPT)
Karoon Energy (KAR)
Santos (STO)
Strike Energy (STK)
Woodside Energy (WDS)
Viva Energy Group (VEA)
Neither of these themes will shock long-time readers of ChartWatch ASX Scans. No doubt, you're already well on top of your exposure in precious metals – I note the Global X Physical Gold (GOLD) ETF has been Featured 22 times in just the last 6 months (that's roughly once a week as one of my highest conviction setups).
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Gold Futures (Front month, back-adjusted) COMEX
At the same time, those above-mentioned energy stocks have made almost daily appearances in the Feature Downtrends – no surprise given the increasingly perrilous state of the ASX Energy Sector Index (XEJ).
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ASX 200 Energy Sector Index
Trends are powerful instruments of wealth building or wealth destruction. In my experience, the outcome depends on whether you follow or fight them! 🧐
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. You can also watch a number of videos in which I perform live analysis of ASX stocks requested by viewers, including detailed explanations of how my methodology works 📺.
How to use the Uptrends & Downtrends lists, and Feature Chart lists
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 % |
|---|---|---|---|---|
Aspen Group | APZ | $5.05 | +18.3% | +119.6% |
Aroa Biosurgery | ARX | $0.715 | +2.9% | +36.2% |
Australian Vanadium | AVL | $0.015 | +50.0% | 0% |
Artrya | AYA | $3.29 | +48.2% | +743.6% |
Brazilian Critical Minerals | BCM | $0.040 | +73.9% | +207.7% |
Beacon Minerals | BCN | $3.10 | +37.2% | +252.3% |
BHP Group | BHP | $43.60 | +9.1% | -0.9% |
Challenger Gold | CEL | $0.175 | +45.8% | +257.1% |
Cufe | CUF | $0.040 | +233.3% | +233.3% |
CZR Resources | CZR | $0.340 | +25.9% | +33.3% |
Dyno Nobel | DNL | $3.27 | +9.7% | +9.7% |
Emerald Resources | EMR | $5.56 | +29.6% | +39.3% |
Emmerson Resources | ERM | $0.270 | +17.4% | +527.9% |
Global X Euro Stoxx 50 ETF | ESTX | $111.66 | +6.0% | +23.6% |
Global X Physical Silver | ETPMAG | $77.48 | +34.6% | +81.1% |
Global X Physical Precious Metals ETF | ETPMPM | $416.94 | +27.1% | +72.7% |
Fineos Corp. Holdings | FCL | $3.20 | +14.3% | +127.0% |
Fortescue | FMG | $20.18 | +7.6% | -1.4% |
Vaneck Gold Miners ETF | GDX | $131.44 | +27.6% | +122.1% |
Golden Horse Minerals | GHM | $0.775 | +21.1% | 0% |
Gateway Mining | GML | $0.089 | +36.9% | +345.0% |
Global X Physical Gold | GOLD | $62.10 | +22.8% | +71.3% |
Lodestar Minerals | LSR | $0.050 | +92.3% | +27.5% |
NH3 Clean Energy | NH3 | $0.135 | +181.3% | +487.0% |
Nordic Resources | NNL | $0.265 | +71.0% | +89.3% |
Pilbara Minerals | PLS | $2.68 | +17.0% | -3.9% |
Russell Aust. Govt. Bond ETF | RGB | $19.68 | +0.6% | +3.7% |
Rio Tinto | RIO | $130.88 | +13.3% | +7.2% |
Resolute Mining | RSG | $1.200 | +42.0% | +57.9% |
South32 | S32 | $3.22 | +24.8% | -13.0% |
Stockland | SGP | $6.52 | +4.7% | +21.2% |
Shape Australia Corp. | SHA | $5.56 | +13.9% | +99.3% |
Sunshine Metals | SHN | $0.030 | +62.2% | +114.3% |
Stakk | SKK | $0.053 | +783.3% | +1666.7% |
Silex Systems | SLX | $7.86 | +40.6% | +72.0% |
Sunrise Energy Metals | SRL | $5.83 | +45.0% | +1414.3% |
Southern Cross Gold Consolidated | SX2 | $9.20 | +31.8% | 0% |
Tivan | TVN | $0.175 | +59.1% | +264.6% |
Global X US T-Bond ETF | USTB | $9.41 | +0.3% | +0.9% |
Vault Minerals | VAU | $0.785 | +18.9% | +127.5% |
Vanguard Intl. Credit Securities ETF | VCF | $39.74 | +0.3% | +2.1% |
Waratah Minerals | WTM | $0.825 | +28.9% | +175.0% |
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), Artrya (ASX: AYA), Beacon Minerals (ASX: BCN), Cufe (ASX: CUF), CZR Resources (ASX: CZR), Emerald Resources (ASX: EMR), Emmerson Resources (ASX: ERM), Global X Physical Silver (ASX: ETPMAG), Global X Physical Precious Metal Basket (ASX: ETPMPM), Fortescue (ASX: FMG), Vaneck Gold Miners ETF (ASX: GDX), Golden Horse Minerals (ASX: GHM), Global X Physical Gold (ASX: GOLD), Lodestar Minerals (ASX: LSR), NH3 Clean Energy (ASX: NH3), Nordic Resources (ASX: NNL), Russell Investments Australian Government Bond ETF (ASX: RGB), Rio Tinto (ASX: RIO), Stockland (ASX: SGP), Shape Australia Corp. (ASX: SHA), Silex Systems (ASX: SLX), Sunrise Energy Metals (ASX: SRL), Southern Cross Gold Consolidated (ASX: SX2), Tivan (ASX: TVN).
10 Randomly chosen Feature Uptrend Charts:
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Downtrends Scan List 📉
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Amaero | 3DA | $0.285 | -27.8% | -24.5% |
Alpha HPA | A4N | $0.780 | -11.9% | -33.3% |
Aristocrat Leisure | ALL | $64.72 | -5.4% | +10.7% |
Austin Engineering | ANG | $0.295 | +5.4% | -43.8% |
Appen | APX | $0.795 | -12.6% | -64.4% |
AUB Group | AUB | $31.84 | -3.1% | +1.6% |
Accent Group | AX1 | $1.300 | -4.4% | -46.7% |
Boss Energy | BOE | $1.825 | -7.8% | -48.9% |
Bank of Queensland | BOQ | $7.14 | +0.7% | +13.9% |
Beach Energy | BPT | $1.090 | -6.4% | -12.5% |
Canyon Resources | CAY | $0.215 | -24.6% | +95.5% |
Credit Corp Group | CCP | $14.53 | -12.9% | -17.0% |
Centuria Office Reit | COF | $1.165 | -5.7% | -9.3% |
Ebos Group | EBO | $25.20 | -0.7% | -24.2% |
EQT Holdings | EQT | $21.24 | -22.3% | -34.9% |
EVT | EVT | $12.88 | -4.2% | +19.1% |
Fisher & Paykel Healthcare Corp. | FPH | $31.31 | -5.8% | -7.2% |
G8 Education | GEM | $0.825 | -1.8% | -40.9% |
Healthco Healthcare and Wellness Reit | HCW | $0.690 | +0.7% | -42.7% |
HMC Capital | HMC | $3.37 | -3.2% | -62.2% |
Insurance Australia Group | IAG | $7.75 | -7.0% | +3.2% |
Inghams Group | ING | $2.49 | -2.4% | -15.3% |
IPH | IPH | $3.52 | -9.3% | -38.0% |
Karoon Energy | KAR | $1.420 | -13.4% | -8.4% |
Kogan.Com | KGN | $3.22 | -12.3% | -34.3% |
Lifestyle Communities | LIC | $5.21 | -13.5% | -44.6% |
Light & Wonder | LNW | $117.06 | -12.0% | -17.6% |
Myer Holdings | MYR | $0.435 | -32.0% | -52.0% |
News Corp.. Class B | NWS | $45.50 | -8.9% | +9.2% |
Premier Investments | PMV | $17.64 | -17.9% | -26.8% |
Polynovo | PNV | $1.265 | -22.2% | -46.2% |
QBE Insurance Group | QBE | $19.52 | -3.5% | +15.6% |
REA Group | REA | $216.07 | -6.8% | -3.6% |
Reliance Worldwide Corp. | RWC | $3.87 | -8.9% | -32.9% |
Santos | STO | $6.17 | -8.5% | -13.2% |
Strike Energy | STX | $0.105 | 0% | -52.3% |
Suncorp Group | SUN | $19.56 | -3.7% | +8.2% |
Viva Energy Group | VEA | $1.765 | -13.1% | -39.8% |
Woodside Energy Group | WDS | $22.10 | -4.2% | -10.9% |
Wisetech Global | WTC | $82.23 | -14.9% | -38.0% |
Xero | XRO | $154.15 | -3.8% | +3.1% |
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: Amaero (ASX: 3DA), Alpha HPA (ASX: A4N), Appen (ASX: APX), Accent Group (ASX: AX1), Boss Energy (ASX: BOE), Beach Energy (ASX: BPT), Credit Corp Group (ASX: CCP), Ebos Group (ASX: EBO), EQT Holdings (ASX: EQT), EVT (ASX: EVT), Insurance Australia Group (ASX: IAG), IPH (ASX: IPH), Karoon Energy (ASX: KAR), Kogan.Com (ASX: KGN), Lifestyle Communities (ASX: LIC), Light & Wonder (ASX: LNW), Myer Holdings (ASX: MYR), Polynovo (ASX: PNV), QBE Insurance Group (ASX: QBE), Reliance Worldwide Corp. (ASX: RWC), Santos (ASX: STO), Suncorp Group (ASX: SUN), Woodside Energy Group (ASX: WDS), Wisetech Global (ASX: WTC).
10 Randomly chosen Feature Downtrend Charts:
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Important considerations when using the ChartWatch Daily ASX Scans:
1. For more information on Carl's trend following information, check out his Technical analysis for beginners: ChartWatch Primer.
2. 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's 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 – so always do your own research!!!
