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ASX Market Update: Key Uptrends and Downtrends
In today’s analysis of the Australian Securities Exchange (ASX), I’ve narrowed down my initial list of over 2,000 stocks to 75 notable uptrends, featuring 38 stocks in particular that showcase demand-side strength. This selection reflects a significant filtering process, highlighting stocks that could signal momentum in the current market environment.
Market Context
As reported in Friday’s Evening Wrap, the ASX 200 index closed within 0.1% of its historical high, a notable achievement considering dividend adjustments. The positive momentum we’ve observed in uptrends suggests that investors may be returning to Australian stocks en masse, echoing sentiments not seen since prior to the onset of the trade wars under President Trump. This collective investor behaviour can serve as an important market indicator.
Both the demand and supply sides of the market are making calculated decisions on capital allocation, and when there’s agreement across the board for stock ownership, it’s a signal worth considering. However, it’s equally crucial to note the stark contrast exhibited by stocks in downtrends; one must question the viability of business models leading to declining share prices in an otherwise buoyant market.
AUS-Selected Uptrends
Below are stocks identified in the Uptrends Scan List, each exhibiting positive price changes over one month and one year.
| Company | Code | Last Price | 1mo % Change | 1yr % Change |
|---|---|---|---|---|
| Life360 | 360 | $33.33 | +47.3% | +116.4% |
| Astral Resources | AAR | $0.180 | +16.1% | +106.9% |
| Adriatic Metals | ADT | $5.20 | +25.6% | +14.8% |
| Almonty Industries | AII | $2.97 | +8.0% | +395.0% |
| Atlas Arteria | ALX | $5.31 | +1.5% | 0% |
| AMA Group | AMA | $0.100 | +33.3% | +148.5% |
| BetaShares Australian Quality ETF | AQLT | $32.76 | +6.5% | +15.7% |
| Austal | ASB | $5.52 | +8.0% | +125.3% |
| … | … | … | … | … |
| WCM Global Growth | WQG | $1.810 | +10.0% | +22.3% |
Highlighted Uptrends
Among today’s standout names showing substantial demand are:
- Adriatic Metals (ADT)
- AMA Group (AMA)
- Austal (ASB)
- Antipa Minerals (AZY)
- Commonwealth Bank of Australia (CBA)
Consider these stocks if you’re drawn to upward momentum in share prices!
Downtrends of Concern
In contrast, the following companies are facing significant downward trends:
| Company | Code | Last Price | 1mo % Change | 1yr % Change |
|---|---|---|---|---|
| Australian Clinical Labs | ACL | $2.85 | -8.9% | +31.9% |
| Coronado Global Resources | CRN | $0.110 | -37.1% | -90.1% |
| Cettire | CTT | $0.395 | -8.1% | -83.7% |
| Domino’s Pizza Enterprises | DMP | $23.44 | -8.1% | -35.8% |
| Fortescue | FMG | $15.39 | -4.9% | -41.9% |
| IDP Education | IEL | $7.80 | -12.7% | -52.6% |
| … | … | … | … | … |
| Vulcan Energy Resources | VUL | $3.88 | -15.5% | -27.2% |
Noteworthy Chart Trends
The stocks facing excess supply include:
- Coronado Global Resources (CRN)
- Domino’s Pizza (DMP)
- IDP Education (IEL)
- Kogan.Com (KGN)
- Novonix (NVX)
Conclusion
As we observe these trends, investors should remain astute and conduct their own thorough research regarding the evolving market environment. The fluctuations reflected in these lists may serve as good indicators, but it is also vital to stay aware of the upcoming changes that could alter these trends.
Remember, stock market investing carries inherent risks and should align with your individual risk profile and investment strategies. Happy trading!
