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ChartWatch ASX Scans: Key Insights for Investors
The latest edition of the ChartWatch ASX Scans focuses on several stocks within the Energy Sector Index (XEJ), which has experienced a remarkable turnaround. This re-emergence is attributed to a proposed acquisition bid for Santos (STO) from Abu Dhabi National Oil Company and the Carlyle Group, which sparked renewed interest in the sector. Additionally, a recent uptick in crude oil prices and a significant rise in metallurgical coal prices have positively impacted companies such as Woodside Energy (WDS), Whitehaven Coal (WHC), Yancoal Australia (YAL), and New Hope Corporation, all of which have made it to this week’s Uptrends Scan List.
This stark trend reversal underscores the importance for trend followers to assess their exposures carefully. Early entry into emerging trends can carry risks; however, this should not deter investors from pursuing new trend opportunities. Over time, as trends establish themselves, positions can be adjusted accordingly.
Daily ASX Scans Overview
This daily report provides insights based on a trend-following technical analysis approach, pinpointing the strongest uptrends and downtrends within the ASX. Investors can leverage the tables below, which can be easily converted using AI tools to integrate into trading platforms like TradingView, allowing for efficient analysis of chart patterns.
Uptrends Scan List
Here’s a summary of key companies showing positive trends:
| Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
| BetaShares Australia 200 ETF | A200 | $147.29 | +3.0% | +11.3% |
| Global X Battery Tech & Lithium ETF | ACDC | $100.56 | +11.7% | +26.1% |
| Australian Ethical Investment | AEF | $7.99 | +34.7% | +107.5% |
| Amplitude Energy | AEL | $0.260 | +13.0% | +15.6% |
| Alkane Resources | ALK | $0.775 | +10.7% | +86.7% |
(Additional entries can be provided upon request.)
Notable Uptrends
Among the prominent players currently exhibiting strong demand include the Global X Battery Tech & Lithium ETF (ACDC) and Australian Ethical Investment (AEF). Other notable stocks in strong uptrends are AMP (AMP), Austal (ASB), and Codan (CDA).
Downtrends Scan List
Conversely, the following companies are demonstrating negative trends:
| Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
| Appen | APX | $0.925 | -18.9% | +18.6% |
| Accent Group | AX1 | $1.480 | -0.3% | -30.2% |
| Boss Energy | BOE | $1.705 | -56.9% | -46.4% |
| Data#3 | DTL | $7.39 | -4.5% | -14.8% |
| Emerald Resources | EMR | $3.52 | -10.4% | -4.9% |
Importance of Vigilance
Investors are urged to view these lists not as recommendations, but as tools for better understanding market movements. Changes in trend direction can occur swiftly, and the absence of a stock from these lists does not imply consistent reliability. Conducting personal research is crucial, as the market is subject to rapid shifts.
Final Thoughts
Navigating market trends requires ongoing diligence, as the future remains unpredictable. The stocks listed here represent current market dynamics and can serve as a framework for further analysis. Always ensure to perform your due diligence when exploring investment opportunities.
By remaining informed and strategically analysing trends, investors can better position themselves to adapt to market changes—maximising their investment outcomes in the process.
For tailored trading strategies or more insights, engage in detailed charts and analytics reflecting the latest market data or consult with financial experts.
