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/ChartWatch ASX Scans: Droneshield, Global Data Centre, Mitre Mining, Spartan Resources, Yancoal, Woodside Energy
Technical Analysis
ChartWatch ASX Scans: Droneshield, Global Data Centre, Mitre Mining, Spartan Resources, Yancoal, Woodside Energy
Wed 29 May 24, 9:15am (AEST)
Source: Shutterstock
Stocks in article
Key Points
- Interesting uptrends in today's Scan Lists include: Droneshield (DRO), Global Data Centre Group (GDC), Mitre Mining Corporation (MMC) Spartan Resources (SPR), and Yancoal Australia (YAL)
- Interesting downtrends in today's Scan Lists include: Australian Clinical Labs (ACL), Audinate Group (AD8), Corporate Travel Management (CTD), Domino's Pizza Enterprises (DMP), Flight Centre Travel Group (FLT)
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.
Uptrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Commonwealth Bank of Australia. | CBA | $120.31 | +5.7% | +23.1% |
Centuria Capital Group | CNI | $1.850 | +5.4% | +6.3% |
Carnarvon Energy | CVN | $0.220 | +15.8% | +69.2% |
Catalyst Metals | CYL | $1.180 | +25.5% | +53.2% |
Droneshield | DRO | $0.980 | +23.3% | +216.1% |
Global Data Centre Group | GDC | $2.95 | +31.7% | +89.7% |
iShares Europe ETF | IEU | $86.76 | +3.1% | +12.8% |
Iperionx | IPX | $2.42 | +13.1% | +161.6% |
Medadvisor | MDR | $0.435 | +47.5% | +93.3% |
Metals X | MLX | $0.475 | +5.6% | +86.3% |
Mystate | MYS | $3.69 | +3.7% | +9.8% |
New Hope Corporation | NHC | $5.05 | +11.2% | +0.8% |
Probiotec | PBP | $2.98 | +4.6% | +16.9% |
Paragon Care | PGC | $0.385 | +13.2% | +67.4% |
Regal Asian Investments | RG8 | $2.12 | +7.6% | +6.0% |
Spartan Resources | SPR | $0.780 | +30.0% | +613.7% |
WAM Global | WGB | $2.27 | +1.3% | +22.4% |
Whitehaven Coal | WHC | $8.00 | +4.3% | +24.8% |
Yancoal Australia | YAL | $6.57 | +19.7% | +31.4% |
Today's Uptrends Scan List
Interesting charts from today's Uptrends List 🔎📈
The stocks that I feel are showing the strongest excess demand from today's Uptrends List are: Centuria Capital Group (ASX: CNI), Catalyst Metals (ASX: CYL), Droneshield (ASX: DRO), Global Data Centre Group (ASX: GDC), Iperionx (ASX: IPX), Mitre Mining Corporation (ASX: MMC), Mystate (ASX: MYS), Regal Asian Investments (ASX: RG8), Spartan Resources (ASX: SPR), Sovereign Metals (ASX: SVM), VGI Partners Global Investments (ASX: VG1), Yancoal Australia (ASX: YAL).
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Aussie Broadband | ABB | $3.44 | -6.3% | +21.6% |
Australian Clinical Labs | ACL | $2.16 | -11.8% | -34.3% |
Audinate Group | AD8 | $15.42 | -18.4% | +75.6% |
APM Human Services International | APM | $1.105 | -11.2% | -40.1% |
Arafura Rare Earths | ARU | $0.190 | 0% | -47.2% |
ASX | ASX | $63.26 | -0.7% | -6.6% |
Aurizon Holdings | AZJ | $3.68 | -5.4% | +4.5% |
Brainchip Holdings | BRN | $0.265 | -10.2% | -34.6% |
Brambles | BXB | $14.34 | -1.0% | +0.6% |
Charter Hall Social Infrastructure Reit | CQE | $2.48 | -2.0% | -15.1% |
Coronado Global Resources Inc. | CRN | $1.115 | -8.2% | -15.8% |
Corporate Travel Management | CTD | $13.73 | -11.8% | -32.7% |
Core Lithium | CXO | $0.140 | 0% | -86.5% |
Dicker Data | DDR | $9.10 | -15.6% | +10.0% |
Domain Holdings Australia | DHG | $2.86 | -5.0% | -15.9% |
Domino's Pizza Enterprises | DMP | $36.52 | -7.2% | -20.1% |
Data#3 | DTL | $7.42 | -4.8% | +6.6% |
Flight Centre Travel Group | FLT | $19.40 | -8.4% | -5.2% |
GWA Group | GWA | $2.30 | -12.2% | +29.9% |
Healthco Healthcare and Wellness Reit | HCW | $1.140 | -5.8% | -17.7% |
Healius | HLS | $1.235 | +1.2% | -57.2% |
IGO | IGO | $7.27 | -1.4% | -48.2% |
Iluka Resources | ILU | $7.24 | -4.6% | -34.5% |
Iress | IRE | $7.73 | -10.1% | -25.0% |
Kelsian Group | KLS | $5.20 | -6.6% | -21.0% |
MA Financial Group | MAF | $4.57 | -0.4% | -3.2% |
Magellan Financial Group | MFG | $8.14 | -9.3% | +7.0% |
Mirvac Group | MGR | $1.985 | -4.6% | -15.2% |
McMillan Shakespeare | MMS | $16.89 | -10.6% | +10.8% |
Nine Entertainment Co. Holdings | NEC | $1.440 | -5.9% | -24.8% |
Novonix | NVX | $0.740 | -16.9% | -20.0% |
OOH!Media | OML | $1.470 | -13.3% | +20.0% |
Orora | ORA | $2.11 | -4.1% | -31.6% |
Ramsay Health Care | RHC | $47.98 | -8.6% | -17.2% |
Seek | SEK | $22.31 | -8.2% | -7.2% |
Sims | SGM | $10.82 | -10.9% | -23.5% |
Sonic Healthcare | SHL | $24.18 | -9.6% | -30.9% |
Smartgroup Corporation | SIQ | $8.25 | -15.9% | +13.4% |
Washington H Soul Pattinson & Company | SOL | $31.90 | -2.7% | -4.1% |
Spark New Zealand | SPK | $3.79 | -11.4% | -22.7% |
Tabcorp Holdings | TAH | $0.630 | -14.3% | -43.8% |
Telstra Group | TLS | $3.51 | -4.1% | -18.9% |
Tyro Payments | TYR | $0.855 | -10.9% | -26.3% |
Woodside Energy Group | WDS | $27.63 | -2.0% | -20.9% |
Worley | WOR | $15.04 | -7.8% | -8.6% |
Today's Downtrends Scan List
Interesting charts from today's Downtrends List 🔎📉
The stocks that I feel are showing the strongest excess supply from today's Downtrends List are: Australian Clinical Labs (ASX: ACL), Audinate Group (ASX: AD8), Corporate Travel Management (ASX: CTD), Domino's Pizza Enterprises (ASX: DMP), Flight Centre Travel Group (ASX: FLT), Iress (ASX: IRE), Kelsian Group (ASX: KLS), Magellan Financial Group (ASX: MFG), McMillan Shakespeare (ASX: MMS), Nine Entertainment Co. Holdings (ASX: NEC), Novonix (ASX: NVX), Orora (ASX: ORA), Sims (ASX: SGM), Sonic Healthcare (ASX: SHL), Smartgroup Corporation (ASX: SIQ), Spark New Zealand (ASX: SPK), Tabcorp Holdings (ASX: TAH).
Charts of each below:
ChartWatch ASX Scans Criteria
Criteria for Uptrends List
Short term uptrend (ST trend ribbon is light green)
Long term uptrend or long term trend is transitioning from down to up (LT trend ribbon is dark green, or LT trend ribbon is amber and contracting)
Demand-side price action (rising peaks and rising troughs is preferred, but based upon weight of evidence of other criteria rising peaks only or rising troughs only may be permitted)
Predominance of demand-side candles (i.e., white bodies and or downward pointing shadows)
The last candle in particular is a strong demand-side candle
Criteria for Downtrends List
Short term downtrend (ST trend ribbon is light pink)
Long term downtrend or long term trend is transitioning from up to down (LT trend ribbon is dark pink, or LT trend ribbon is amber and contracting)
Supply-side price action (falling peaks and falling troughs is preferred, but based upon weight of evidence of other criteria falling peaks only or falling troughs only may be permitted)
Predominance of supply-side candles (i.e., black bodies and or upward pointing shadows)
The last candle in particular is a strong supply-side candle
Important considerations when using the ChartWatch ASX Scan Lists:
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.
Carl has over 30-years investing experience, helping investors navigate several bull and bear markets over this time. He is a well respected markets commentator who specialises in how the global macro impacts Australian and US equities. Carl has a passion for technical analysis and has taught his unique brand of price-action trend following to thousands of Aussie investors.
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