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Summary of the Latest ASX Trend Analysis
In the latest update of the ChartWatch Daily ASX Scans, a total of 26 stocks were identified in the Uptrends Scan List, along with 11 featured charts showcasing promising upward movements. This comes as the ASX 200 index continues its upward trajectory for the fourth consecutive day, following a significant low on 7 April. Analysts remain optimistic and expect to see additional stocks qualify for uptrends as these trends become clearer in the upcoming days.
Current Market Conditions
Recently, the market has exhibited strong bullish movements, with significantly fewer stocks appearing in the Downtrends Scan List—just five in total, including two featured charts. Among the underperforming stocks are Cettire (CTT) and Lendlease (LLC), which show considerable declines in short and long-term performance.
Uptrends Scan List
The following companies have demonstrated strong upward momentum:
| Company | Code | Last Price | 1 Month (%) | 1 Year (%) |
|---|---|---|---|---|
| African Gold | A1G | $0.135 | +28.6% | +328.1% |
| Aussie Broadband | ABB | $4.10 | 0% | +14.6% |
| Alkane Resources | ALK | $0.845 | +26.1% | +29.0% |
| ALS | ALQ | $16.95 | +7.1% | +26.8% |
| Droneshield | DRO | $1.335 | +35.5% | +43.5% |
| … (additional entries) | … | … | … | … |
The full list highlights not only short-term gains but also impressive yearly returns, indicating potential growth opportunities.
Featured Stocks
The stocks currently yielding the highest demand from the Uptrends List include:
- Alkane Resources (ALK)
- ALS (ALQ)
- Droneshield (DRO)
- Fleetwood (FWD)
- Technology One (TNE)
These selections are anticipated for further monitoring due to their heightened demand and market positioning.
Downtrends Scan List
Conversely, the Downtrends Scan List reveals underperformers such as:
| Company | Code | Last Price | 1 Month (%) | 1 Year (%) |
|---|---|---|---|---|
| Cettire | CTT | $0.465 | -48.9% | -84.6% |
| Lendlease Group | LLC | $5.08 | -17.4% | -22.2% |
| … (additional entries) | … | … | … | … |
These companies are struggling with substantial declines, suggesting they may warrant a cautious investment approach.
Stocks under Scrutiny
The two notable stocks under observation for strong selling pressure are:
- Cettire (CTT)
- Lendlease Group (LLC)
Conclusion
The ChartWatch Daily ASX Scans aim to provide investors with valuable insights into market dynamics. While many of the stocks featured may reappear in subsequent analyses, continuous monitoring of shifts in trends is critical. Investing strategies should align with individual risk profiles, and proper due diligence is essential prior to making trades.
For detailed technical analyses and further information, readers are encouraged to refer to the ChartWatch Primer, which outlines the methodology underpinning these scans.
Stay informed and educated—weigh your options carefully in this volatile market landscape!
