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Silver Makes a Comeback on ASX
Silver is stirring renewed interest on the market, with COMEX silver futures reaching their highest point since March 2013. This surge signals robust demand that outpaces supply, marking the most significant momentum seen in over a decade. As a result, silver prices are experiencing both short- and long-term uptrends.
Stocks on the ASX related to silver, including Adriatic Metals (ADT), Antipa Minerals (AZY), Mithril Resources (MTH), Sun Silver (SS1), Silver Mines (SVL), and Unico Silver (USL), are once again gaining traction. The notable growth patterns exhibited by these companies highlight how ADT and AZY represent the more established setups, while MTH, SS1, and USL are entering exciting new trend combinations. SVL, on the other hand, appears to be in a transition period but shows promising signs for recovery.
The pressing question of how long this silver uptrend will last remains unanswered, as predicting market movements is fraught with uncertainty. However, several stocks currently meet my criteria for high conviction uptrends that should attract attention, particularly with effective risk management.
ChartWatch Daily ASX Scans
In this edition of ChartWatch, I offer insights based on a trend-following technical analysis approach, highlighting the best potential uptrends and downtrends on the ASX. Investors may find it beneficial to compile the following data into a format suitable for trading platforms like TradingView, aiding in monitoring the most promising stocks.
It’s advisable that investors interested in high-performing uptrends consider buying into these stocks while those preferring to avoid losses may look to short-sell those showing downward trends. Ultimately, individual strategy dictates the use of this information.
Uptrends Scan List
| Company | Code | Last Price | 1 Month % | 1 Year % |
|---|---|---|---|---|
| Life360 | 360 | $33.25 | +42.8% | +119.0% |
| Adriatic Metals | ADT | $5.40 | +38.5% | +34.7% |
| AMA Group | AMA | $0.105 | +32.9% | +155.2% |
| Aspen Group | APZ | $3.70 | +20.1% | +105.6% |
| Arika Resources | ARI | $0.043 | +34.4% | +115.0% |
| Global X Uranium ETF | ATOM | $17.94 | +23.0% | +9.2% |
| Antipa Minerals | AZY | $0.735 | +51.5% | +425.0% |
| Charter Hall Group | CHC | $19.35 | +7.1% | +57.8% |
| Chorus | CNU | $7.88 | +3.1% | +15.0% |
| COG Financial Services | COG | $1.560 | +8.3% | +37.4% |
| Elanor Commercial Property | ECF | $0.660 | +6.5% | -6.0% |
| EDU | EDU | $0.275 | +89.7% | +71.9% |
| Electro Optic Systems | EOS | $2.37 | +111.6% | +85.9% |
| Gorilla Gold Mines | GG8 | $0.545 | 0% | +1191.5% |
| iShares MSCI South Korea | IKO | $105.50 | +13.4% | +8.1% |
| Lovisa | LOV | $32.74 | +27.4% | +10.1% |
| Metro Mining | MMI | $0.065 | +20.4% | +32.7% |
Downtrends Scan List
| Company | Code | Last Price | 1 Month % | 1 Year % |
|---|---|---|---|---|
| AMP | AMP | $1.240 | -4.2% | +15.9% |
| Austin Engineering | ANG | $0.365 | -5.2% | -28.4% |
| Avita Medical | AVH | $1.805 | -39.6% | -33.1% |
| Accent Group | AX1 | $1.845 | -3.4% | -3.7% |
| Bell Financial Group | BFG | $1.175 | -7.5% | -6.7% |
| Bellevue Gold | BGL | $0.910 | -6.2% | -50.1% |
| CSL | CSL | $241.92 | +0.8% | -14.2% |
| Domino’s Pizza Enterprises | DMP | $21.30 | -14.0% | -44.1% |
| G8 Education | GEM | $1.195 | -8.4% | -0.8% |
Key Observations
Stocks such as Adriatic Metals (ADT), Antipa Minerals (AZY), and Electro Optic Systems (EOS) are highlighted for showing strong demand, while entities like AMP and Avita Medical stand out for their over-supply issues.
Investors are urged to be proactive; the stock market is unpredictable, and shifts in trends can occur anytime. Always conduct thorough research and adjust your strategies accordingly.
