Droneshield, Elsight, Electro Optic Systems - ASX Defence stocks blow up the charts!
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: Autosports Group (ASG), Bubs Australia (BUB), Commonwealth Bank (CBA), Elsight (ELS), Vaneck Video Gaming & Esports ETF (ESPO), Kingston Resources (KSN), Global X Semiconductor ETF (SEMI), Tasmea (TEA).
- Interesting downtrends in today's Scans: Botanix Pharmaceuticals (BOT), Coronado Global Resources (CRN), CSL (CSL), Fletcher Building (FBU), Mineral Resources (MIN), Paragon Care (PGC), Treasury Wine Estates (TWE).
The trend is your friend.
The trend is your friend until it bends.
The trend is your friend until it bends, then ends.
(Then the trend the other way could be your friend! ♻️)
I guess our job as technical analysts is to figure out which of the three phases any particular chart is in. Clearly, if we can invest during "1's", we're going to have the best results. The goal by the time a chart gets to 3 is to have significantly reduced risk exposure, or ideally, no risk exposure at all.
At what stage are ASX defence stocks like Droneshield (DRO), Elsight (ELS), and Electro Optic Systems (EOS) in? 🤔
Well, given all three made my Uptrends Scan List today, my view is that they're all 1's. That's usually a good thing for "not bending" any time soon, but I can't tell the future. What I do know is that I can't fear buying into 1's – on the contrary – I should fear not buying into 1`s.
My job is to do the work and determine when the 1's I own start to fall into the 2's category. This would usually entail taking some risk off the table. As I said, by the time they're 3's, I should be mostly out the door.
Another 1 is Commonwealth Bank (CBA), it's enjoying its 62nd appearance as a Feature Uptrend today (i.e., highest conviction), but you're all bored of hearing me talk about it – so I will keep moving!
The point I want to make is a 1 is a 1 regardless of which sector it comes from, how big or small it is, or whether it has a "good dividend yield", or a "low PE", or whatever narrative you want to throw at it.
The other point I want to make is that CSL (CSL) is also a 1, as is Treasury Wine Estates (TWE). Yes, they're tanking and have been for quite some time – but they are both tremendously strong trends – albeit downtrends in both cases (CSL 27x Feature Downtrend and TWE 17x Feature Downtrend).
As a trend follower, we don't care about up or down. Ups are longs, downs are shorts. 1, 2, or 3? That's all we care about 🧐.
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 % |
|---|---|---|---|---|
African Gold | A1G | $0.185 | +54.2% | +537.9% |
Adriatic Metals | ADT | $5.49 | +8.9% | +37.9% |
Aura Energy | AEE | $0.175 | +25.0% | +25.0% |
AMA Group | AMA | $0.110 | +23.6% | +192.9% |
Aspen Group | APZ | $3.97 | +15.1% | +121.2% |
Autosports Group | ASG | $2.35 | +6.3% | +3.5% |
BetaShares Asia Tech Tigers ETF | ASIA | $11.86 | +9.3% | +28.1% |
Global X Uranium ETF | ATOM | $20.78 | +17.5% | +32.0% |
BCI Minerals | BCI | $0.345 | +19.0% | +53.3% |
Bubs Australia | BUB | $0.165 | +26.9% | +32.0% |
Commonwealth Bank | CBA | $191.40 | +10.1% | +49.9% |
Cobram Estate Olives | CBO | $2.13 | +9.0% | +24.2% |
Cuscal Group | CCL | $3.03 | +9.0% | 0% |
Chalice Mining | CHN | $1.595 | +28.6% | +17.7% |
COG Financial Services | COG | $1.600 | +6.7% | +44.1% |
Droneshield | DRO | $2.14 | +82.9% | +25.9% |
Elsight | ELS | $1.505 | +131.5% | +306.8% |
Ishares Emerging Markets Ex China ETF | EMXC | $29.00 | +4.3% | 0% |
Vaneck Video Gaming & Esports ETF | ESPO | $20.68 | +7.0% | +66.6% |
Global X Physical Platinum ETF | ETPMPT | $188.10 | +19.9% | +37.5% |
Global X Artificial Intelligence ETF | GXAI | $12.99 | +7.4% | +24.3% |
Helia Group | HLI | $5.45 | +7.3% | +47.4% |
iShares Composite Bond ETF | IAF | $104.50 | +1.5% | +3.5% |
iShares Corporate Bond ETF | ICOR | $97.32 | +1.1% | +3.3% |
Iperionx | IPX | $4.55 | +21.3% | +129.2% |
iShares China Large-Cap ETF | IZZ | $57.20 | +6.1% | +42.5% |
Kingston Resources | KSN | $0.135 | +8.0% | +73.1% |
Loftus Global Disruption ETF | LPGD | $5.63 | +7.2% | +20.6% |
Munro Concentrated Global Growth ETF | MCGG | $16.69 | +6.2% | +17.8% |
Metcash | MTS | $3.97 | +17.5% | +5.0% |
Vaneck Australian Banks ETF | MVB | $42.05 | +7.6% | +19.4% |
Mystate | MYS | $4.35 | +7.4% | +15.4% |
Paladin Energy | PDN | $7.75 | +23.4% | -42.5% |
Global X Semiconductor ETF | SEMI | $18.74 | +14.5% | -1.6% |
SGH | SGH | $55.24 | +10.4% | +49.5% |
Tasmea | TEA | $3.74 | +31.9% | +157.7% |
Vanguard Asia EX Japan ETF | VAE | $86.86 | +5.7% | +16.2% |
Westpac Banking Corp | WBC | $34.54 | +10.5% | +26.8% |
Wagners Holding | WGN | $2.17 | +2.8% | +171.3% |
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: AMA Group (ASX: AMA), Aspen Group (ASX: APZ), Autosports Group (ASX: ASG), Bubs Australia (ASX: BUB), Commonwealth Bank of Australia (ASX: CBA), Elsight (ASX: ELS), Ishares MSCI Emerging Markets Ex China ETF (ASX: EMXC), Vaneck Video Gaming and Esports ETF (ASX: ESPO), Kingston Resources (ASX: KSN), Loftus Peak Global Disruption Fund ETF (ASX: LPGD), Vaneck Australian Banks ETF (ASX: MVB), Global X Semiconductor ETF (ASX: SEMI), Tasmea (ASX: TEA).
10 Randomly chosen Feature Uptrend Charts below:
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Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Botanix Pharma. | BOT | $0.290 | -20.5% | -13.4% |
Brainchip | BRN | $0.190 | -9.5% | -11.6% |
Coronado Global | CRN | $0.120 | +4.3% | -90.0% |
CSL | CSL | $238.45 | -3.5% | -18.6% |
Dexus | DXS | $6.83 | -2.3% | +4.3% |
Fletcher Building | FBU | $2.67 | -9.8% | +3.3% |
Imugene | IMU | $0.011 | -35.3% | -81.4% |
Iress | IRE | $8.10 | -3.9% | +4.7% |
Mineral Resources | MIN | $20.18 | -16.2% | -63.8% |
Myer | MYR | $0.600 | -17.8% | -4.5% |
Novonix | NVX | $0.370 | -21.3% | -43.1% |
Paragon Care | PGC | $0.350 | -10.3% | -16.7% |
Polynovo | PNV | $1.175 | -9.6% | -50.6% |
Redox | RDX | $2.10 | -25.3% | -34.4% |
South32 | S32 | $2.84 | -6.9% | -23.7% |
Skycity Entertainment | SKC | $0.835 | -5.7% | -37.9% |
Treasury Wine Estates | TWE | $7.84 | -5.0% | -37.9% |
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: Botanix Pharmaceuticals (ASX: BOT), Coronado Global Resources (ASX: CRN), CSL (ASX: CSL), Fletcher Building (ASX: FBU), Mineral Resources (ASX: MIN), Paragon Care (ASX: PGC), Treasury Wine Estates (ASX: TWE).
Feature Downtrend Charts below:
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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.
