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ChartWatch Daily ASX Scans: Trends to Watch
By adopting a trend-following approach in the unpredictable world of financial markets, today’s analysis presents a mixed bag after a less-than-stellar trading day. While opportunities in upward trends have become scarce, notable short-selling prospects are emerging within downward trends.
Uptrend Insights
Today’s Uptrends Scan brings to light several intriguing small gold explorers like Ausgold (AUC), Koonenberry Gold (KNB), Trigg Minerals (TMG), Warriedar Resources (WA8), and WIA Gold (WIA). Of note, TMG focuses on antimony-gold properties, slightly deviating from pure gold explorations.
Particularly eye-catching are KNB and WA8, which seem to be climbing rapidly. KNB was flagged as a Key Uptrend on the 28 March candle with a closing price of $0.045, and WA8 was initiated on the 25 March candle at $0.063. Both stocks have experienced price doubling, leading to the critical question for many investors: “Am I too late?” The future trajectory remains uncertain, but both stocks continue to warrant attention as I maintain their status as Feature Uptrends today.
Today’s Uptrends Scan List
| Company | Code | Last Price | 1 Month % | 1 Year % |
|---|---|---|---|---|
| The A2 Milk Company | A2M | $8.60 | +9.0% | +44.1% |
| Ausgold | AUC | $0.560 | -0.9% | +69.7% |
| Energy One | EOL | $12.75 | +18.6% | +216.4% |
| Fineos Corporation | FCL | $2.58 | +25.9% | +43.3% |
| Intelligent Monitoring Group | IMB | $0.590 | +20.4% | +63.9% |
| Koonenberry Gold | KNB | $0.092 | +124.4% | +293.7% |
| Peet | PPC | $1.575 | +10.9% | +32.4% |
| Qube | QUB | $4.11 | +4.6% | +25.3% |
| Sigma Healthcare | SIG | $3.15 | +10.5% | +149.0% |
| Trigg Minerals | TMG | $0.047 | +51.6% | +487.5% |
| Warriedar Resources | WA8 | $0.115 | +85.5% | +161.4% |
| WIA Gold | WIA | $0.200 | +17.6% | +100.0% |
Feature Charts from today’s Uptrends List:
The stocks demonstrating the strongest demand include The A2 Milk Company (A2M), Fineos Corporation (FCL), Koonenberry Gold (KNB), Sigma Healthcare (SIG), and Warriedar Resources (WA8).
Downtrend Overview
The Downtrends Scan exposes several companies under pressure, featuring sluggish performance over the past month and year. Some notable names include Coronado Global Resources (CRN), which has seen a staggering decline of 85.5% over the year, and Audinate Group (AD8) with a 66.5% dip in the same timeframe.
Today’s Downtrends Scan List
| Company | Code | Last Price | 1 Month % | 1 Year % |
|---|---|---|---|---|
| Audinate Group | AD8 | $6.04 | -2.6% | -66.5% |
| Austin Engineering | ANG | $0.400 | -7.0% | -18.4% |
| Breville Group | BRG | $28.73 | -8.2% | +14.3% |
| Collins Foods | CKF | $8.10 | -6.1% | -17.0% |
| Coronado Global Resources | CRN | $0.165 | -50.0% | -85.5% |
| Cettire | CTT | $0.445 | -45.1% | -84.9% |
| Domino’s Pizza Enterprises | DMP | $25.19 | +1.2% | -36.0% |
| Firefly Metals | FFM | $0.760 | -16.5% | -12.6% |
| G8 Education | GEM | $1.245 | -5.0% | +3.8% |
| Galan Lithium | GLN | $0.100 | -9.1% | -73.7% |
| Horizon Oil | HZN | $0.180 | -18.2% | 0% |
| Judo Capital | JDO | $1.445 | -21.3% | +9.1% |
| Jumbo Interactive | JIN | $10.05 | -2.0% | -36.0% |
| Lendlease Group | LLC | $5.13 | -14.2% | -18.4% |
| Liontown Resources | LTR | $0.505 | -13.7% | -58.8% |
| Nuix | NXL | $2.37 | -21.8% | +16.7% |
| Siteminder | SDR | $3.83 | -11.1% | -31.7% |
| Spark New Zealand | SPK | $1.93 | +2.1% | -55.1% |
| Santos | STO | $5.84 | -13.7% | -22.5% |
| Sovereign Metals | SVM | $0.635 | -18.6% | +30.9% |
| Woodside Energy Group | WDS | $19.87 | -15.5% | -27.7% |
| WEB Travel Group | WEB | $4.14 | -9.0% | -41.9% |
| Yancoal Australia | YAL | $4.72 | -7.5% | -14.8% |
Feature Charts from today’s Downtrends List:
Key stocks with considerable supply include Austin Engineering (ANG), Collins Foods (CKF), Coronado Global Resources (CRN), Domino’s Pizza Enterprises (DMP), and G8 Education (GEM).
Important Notes
This scanning process does not guarantee future trends; the market is inherently unpredictable. The lists provided are not exhaustive and serve as research aids. Conduct thorough analysis and consider your investment strategy before making decisions.
For further insights into technical analysis methodology, see the comprehensive ChartWatch Primer. This is intended for educational purposes, so ensure to do your own research before trading decisions.
