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Technical Analysis
/ChartWatch ASX Scans: Light & Wonder, Macquarie, Origin Energy, REA, Novonix, Kogan.Com, Ramsay Health Care
Technical Analysis
ChartWatch ASX Scans: Light & Wonder, Macquarie, Origin Energy, REA, Novonix, Kogan.Com, Ramsay Health Care
Mon 24 Jun 24, 9:00am (AEST)
Source: Shutterstock
Key Points
- Interesting uptrends in today's Scan Lists: Botanix Pharma. (BOT), Goodman (GMG), Harvey Norman (HVN), Light & Wonder (LNW), Macquarie (MQG), NRW (NWH), Netwealth (NWL), Origin Energy (ORG), REA (REA), Rex Minerals (RXM), and Telix Pharma. (TLX)
- Interesting downtrends in today's Scan Lists: Champion Iron (CIA), Collins Foods (CKF), Inghams Group (ING), Iress (IRE), Kogan.Com (KGN), Kelsian Group (KLS), Novonix (NVX), Patriot Battery Metals (PMT), and Ramsay Health Care (RHC)
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 % |
|---|---|---|---|---|
Argenica Therapeutics | AGN | $0.830 | +13.7% | +100.0% |
Ansell | ANN | $26.54 | +5.3% | +0.7% |
Arena Reit. | ARF | $3.97 | +4.2% | +1.8% |
Accent Group | AX1 | $2.04 | +16.6% | +23.3% |
Bisalloy Steel Group | BIS | $3.99 | +4.5% | +124.5% |
Botanix Pharmaceuticals | BOT | $0.360 | +26.3% | +278.9% |
Commonwealth Bank of Australia | CBA | $127.68 | +5.1% | +25.6% |
Codan | CDA | $11.34 | +7.5% | +44.5% |
Cooper Energy | COE | $0.235 | +9.3% | +56.7% |
Catalyst Metals | CYL | $1.075 | -3.6% | +36.9% |
Diversified United Investment | DUI | $5.25 | +4.0% | +6.7% |
Emeco | EHL | $0.770 | +6.2% | +14.9% |
Energy One | EOL | $4.80 | +14.3% | +70.0% |
Global Data Centre Group | GDC | $3.24 | +15.3% | +94.6% |
Generation Development Group | GDG | $2.37 | +7.3% | +84.5% |
Goodman Group | GMG | $35.88 | +5.7% | +73.1% |
GQG Partners | GQG | $2.74 | +8.7% | +89.6% |
Gentrack Group | GTK | $9.45 | +9.9% | +150.0% |
Hotel Property Investments | HPI | $3.47 | +5.2% | +4.8% |
Hub24 | HUB | $45.27 | +7.1% | +69.1% |
Harvey Norman | HVN | $4.58 | +6.0% | +38.0% |
Light & Wonder | LNW | $152.18 | +5.2% | +53.0% |
L1 Long Short Fund | LSF | $3.19 | +1.6% | +13.1% |
Macmahon | MAH | $0.290 | +5.5% | +123.1% |
Macquarie Group | MQG | $199.03 | +1.7% | +7.5% |
Vaneck Australian Banks ETF | MVB | $35.21 | +2.4% | +20.4% |
National Australia Bank | NAB | $36.21 | +4.1% | +36.6% |
NRW | NWH | $3.14 | +12.5% | +33.1% |
Netwealth Group | NWL | $21.83 | +6.8% | +54.7% |
OFX Group | OFX | $2.20 | +10.0% | +12.2% |
Origin Energy | ORG | $10.76 | +5.9% | +27.3% |
Paragon Care | PGC | $0.420 | +13.5% | +78.7% |
Plenti Group | PLT | $0.800 | +17.6% | +100.0% |
Pro Medicus | PME | $140.49 | +22.4% | +101.2% |
Pinnacle Investment Management | PNI | $14.04 | +8.4% | +44.6% |
PYC Therapeutics | PYC | $0.135 | +28.6% | +148.4% |
Redox | RDX | $3.20 | -0.6% | 0% |
REA Group | REA | $196.42 | +4.0% | +43.1% |
Regal Investment Fund | RF1 | $3.29 | +2.8% | +18.8% |
Rex Minerals | RXM | $0.280 | +3.7% | +17.6% |
SG Fleet Group | SGF | $3.14 | +2.6% | +41.4% |
Spartan Resources | SPR | $0.830 | +15.3% | +422.1% |
Service Stream | SSM | $1.255 | +4.1% | +58.9% |
Sovereign Metals | SVM | $0.595 | +13.3% | +24.0% |
Southern Cross Electrical Engineering | SXE | $1.730 | +3.6% | +172.4% |
Telix Pharmaceuticals | TLX | $18.44 | +19.8% | +61.0% |
Technology One | TNE | $18.46 | +3.4% | +14.5% |
Temple & Webster Group | TPW | $10.56 | +2.3% | +102.3% |
Treasury Wine Estates | TWE | $12.63 | +9.2% | +12.7% |
Vanguard Australian Property ETF | VAP | $94.00 | +0.5% | +20.5% |
Ventia Services Group | VNT | $3.95 | +9.7% | +39.1% |
Westpac Banking Corporation | WBC | $27.24 | +0.6% | +27.8% |
Webjet | WEB | $8.88 | -2.3% | +23.0% |
Westgold Resources | WGX | $2.54 | +10.0% | +76.4% |
Xero | XRO | $132.61 | +6.9% | +10.6% |
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: Ansell (ASX: ANN), Botanix Pharmaceuticals (ASX: BOT), Commonwealth Bank of Australia (ASX: CBA), Generation Development Group (ASX: GDG), Goodman Group (ASX: GMG), Harvey Norman (ASX: HVN), Light & Wonder Xngs (ASX: LNW), Macquarie Group (ASX: MQG), NRW (ASX: NWH), Netwealth Group (ASX: NWL), Origin Energy (ASX: ORG), Paragon Care (ASX: PGC), Pro Medicus (ASX: PME), PYC Therapeutics (ASX: PYC), REA Group (ASX: REA), Rex Minerals (ASX: RXM), Telix Pharmaceuticals (ASX: TLX), Treasury Wine Estates (ASX: TWE), Ventia Services Group (ASX: VNT), Westgold Resources (ASX: WGX).
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
Australian Finance Group | AFG | $1.410 | -1.1% | -15.3% |
Brainchip | BRN | $0.220 | -12.0% | -42.9% |
Chalice Mining | CHN | $1.355 | -21.2% | -80.9% |
Champion Iron | CIA | $6.40 | -16.7% | +0.6% |
Collins Foods | CKF | $9.20 | +2.3% | +19.2% |
Corporate Travel Management | CTD | $13.65 | -6.0% | -30.4% |
Core Lithium | CXO | $0.083 | -44.7% | -91.7% |
EVT | EVT | $11.20 | -6.1% | -12.4% |
IDP Education | IEL | $14.50 | -16.5% | -39.4% |
Insignia Financial | IFL | $2.19 | -2.2% | -25.3% |
Inghams Group | ING | $3.48 | -3.3% | +25.6% |
Iress | IRE | $7.74 | -3.3% | -28.1% |
Kogan.Com | KGN | $4.36 | -6.2% | -13.3% |
Kelsian Group | KLS | $4.99 | -3.7% | -31.0% |
Liontown Resources | LTR | $0.935 | -34.8% | -67.3% |
Meteoric Resources | MEI | $0.160 | -13.5% | -17.9% |
Mineral Resources | MIN | $55.76 | -28.9% | -24.7% |
Nine Entertainment | NEC | $1.420 | -3.1% | -28.6% |
Ramsay Health Care | RHC | $48.53 | -0.7% | -16.6% |
Seek | SEK | $22.36 | -2.1% | +1.4% |
Syrah Resources | SYR | $0.365 | -25.5% | -59.1% |
Vicinity Centres | VCX | $1.885 | -3.6% | -1.3% |
Vulcan Steel | VSL | $6.69 | -8.6% | -14.8% |
Waypoint Reit | WPR | $2.33 | -4.1% | -15.6% |
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: Champion Iron (ASX: CIA), Collins Foods (ASX: CKF), Inghams Group (ASX: ING), Iress (ASX: IRE), Kogan.Com (ASX: KGN), Kelsian Group (ASX: KLS), Novonix (ASX: NVX), Patriot Battery Metals (ASX: PMT), Ramsay Health Care (ASX: RHC).
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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