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ChartWatch ASX Scans: Navigating Market Trends
Important Note: As I embark on a four-week holiday, the next edition of ChartWatch ASX Scans will be published on Wednesday, 30 July. Until then, continue to monitor market trends and charts. 🌍✈️
As I prepare for my European getaway, I’m excited about immersing myself in culture while you focus on tracking market movements. My analysis today highlights small-cap mining stocks, illustrating the strength of trend-following, independent of the underlying company fundamentals.
In a robust uptrend, the increased demand typically outweighs supply, suggesting that existing shareholders are reluctant to sell. With our next update approaching, I hope you’ve gained valuable insights from these analyses, applying them to your own technical assessments. I’m eager to expand ChartWatch into a weekly webinar series upon my return.
Welcome to Daily ASX Scans
This series employs trend-following technical analysis to highlight the most promising uptrends and downtrends in the ASX market. Whether you prefer to buy in strong uptrends or avoid downtrends is up to you—these lists serve merely as a resource.
Uptrends Scan List
Here are companies currently experiencing notable uptrends:
| Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
| Adriatic Metals | ADT | $5.55 | +10.8% | +39.4% |
| Australian Ethical Investment | AEF | $6.28 | +7.2% | +44.4% |
| Almonty Industries | AII | $3.95 | +41.1% | +558.3% |
| Aspen Group | APZ | $4.03 | +17.2% | +125.8% |
| BCI Minerals | BCI | $0.350 | +20.7% | +55.6% |
| Brazilian Rare Earths | BRE | $2.42 | +21.0% | -12.3% |
| Bubs Australia | BUB | $0.180 | +38.5% | +38.5% |
| Cedar Woods Properties | CWP | $7.24 | +11.7% | +55.7% |
| Droneshield | DRO | $2.39 | +100.8% | +45.7% |
| Deep Yellow | DYL | $1.710 | +22.1% | +25.3% |
Among the strongest demand signals from today’s uptrends are Adriatic Metals (ASX: ADT), Almonty Industries (ASX: AII), and Droneshield (ASX: DRO), among others.
Downtrends Scan List
Conversely, here are companies currently displaying downtrends:
| Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
| Acrow | ACF | $0.960 | -6.3% | -9.4% |
| Avita Medical | AVH | $1.485 | -23.8% | -39.6% |
| Bellevue Gold | BGL | $0.870 | -7.9% | -54.6% |
| Guzman y Gomez | GYG | $28.04 | -9.4% | -2.6% |
| Infomedia | IFM | $1.150 | -9.1% | -29.4% |
| Imugene | IMU | $0.011 | -35.3% | -80.0% |
| Polynovo | PNV | $1.165 | -9.3% | -51.7% |
| PWR Holdings | PWH | $6.35 | -5.8% | -42.0% |
| Step One Clothing | STP | $0.645 | -16.2% | -51.3% |
| Strike Energy | STX | $0.145 | -14.7% | -32.6% |
Stocks like Avita Medical (ASX: AVH) and Guzman y Gomez (ASX: GYG) are currently showcasing significant supply pressure.
Key Considerations with ChartWatch Daily ASX Scans
- Market Volatility: Trends may change unexpectedly. Monitor stocks regularly.
- Curation Process: The lists are selectively curated and may not always include the same stocks daily.
- Not a Recommendation Service: Use these lists as tools for understanding market trends rather than investment advice.
- Conduct Your Own Research: Always verify information and assess trends based on your criteria.
With these insights and tools, you are better equipped to navigate the ASX market. Enjoy your investment journey, and I look forward to reconnecting after my holiday!
