Table of Contents
Daily ASX Market Overview: Uptrends & Downtrends
The quote, "It’s always darkest before the dawn," hints at optimism during challenging times, suggesting that challenging situations can lead to brighter outcomes. While the concept of being "brightest before the …" might not hold true, today’s Australian Securities Exchange (ASX) shows a shining landscape, particularly in its Uptrends and Downtrends Scan Lists. The Uptrends List is loaded with promising stocks poised for investment, while the Downtrends List is minimal, indicating heightened market confidence.
Embracing Market Trends
As trend followers, the changing tides of the market are treated with acceptance. Historical data shows that market downturns often come with ample warning, allowing investors to prepare. The focus remains on seizing opportunities during bullish phases, highlighting the importance of being attuned to trends as they evolve.
Welcome to ChartWatch
In this daily feature of ChartWatch, I present scan lists rooted in a trend-following technical analysis methodology. The primary aim is to highlight promising uptrends and identify concerning downtrends on the ASX. Readers are encouraged to leverage available AI tools to convert tables into formats suitable for trading platforms, streamlining the observation of relative performance among stocks.
Investors typically prefer to capitalise on stocks in solid uptrends, while treating downtrends judiciously—whether that means selling or shorting. However, individual investment strategies will vary.
It’s worth noting that stocks may frequently appear on these lists as they meet my criteria; however, changes will not always trigger notifications, and your research is vital in tracking any trend shifts.
Uptrends Scan List
| Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
| Alpha HPA | A4N | $0.995 | +48.5% | -1.5% |
| Adairs | ADH | $2.58 | +34.0% | +21.1% |
| Almonty Industries | AII | $2.77 | +21.0% | +432.7% |
| Aurelia Metals | AMI | $0.320 | +56.1% | +68.4% |
| APA Group | APA | $8.61 | +8.9% | +0.7% |
The list continues with notable stocks like Eagers Automotive (ASX: APE) and Coles Group (ASX: COL), showing compelling year-on-year growth even amidst market fluctuations.
Key Uptrend Performers
The stocks demonstrating the highest demand from the Uptrends List include:
- Eagers Automotive (ASX: APE)
- BetaShares Global Defence ETF (ASX: ARMR)
- Coles Group (ASX: COL)
Featured Charts
The featured stocks are supported by technical charts portraying their performance:
Downtrends Scan List
| Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
| 4DMEDICAL | 4DX | $0.285 | +14.0% | -50.0% |
| Coronado Global Resources | CRN | $0.165 | -32.7% | -86.0% |
| Carnarvon Energy | CVN | $0.100 | -4.8% | -47.4% |
| Imugene | IMU | $0.022 | -8.3% | -71.1% |
| Sovereign Metals | SVM | $0.625 | +0.8% | +27.6% |
Among these, Coronado Global Resources (ASX: CRN) and Carnarvon Energy (ASX: CVN) are notable for their substantial declines, reflecting potential caution for future investments in these equities.
Noteworthy Downtrend Performers
Stocks exhibiting significant supply pressures include:
- Coronado Global Resources (ASX: CRN)
- Carnarvon Energy (ASX: CVN)
- Imugene (ASX: IMU)
Important Considerations for ChartWatch Scans
-
Market Uncertainty: Future market trends are unpredictable. Stocks currently showing trends may quickly change direction.
-
Stock Listings: These lists are selectively curated and may not represent all stocks available in the market.
-
Not a Recommendation Service: These analyses serve as educational tools, urging investors to perform additional research on stock performance over time.
- General Information Only: The insights shared are for educational purposes; prudent investigation and analysis remain imperative.
Embrace the trends, keep evolving with market changes, and invest wisely. Happy trading!
