Celebrating One Year of ChartWatch ASX Scans! 🎂
Last Friday marked the first anniversary of ChartWatch ASX Scans, Australia’s premier daily source for free technical analysis on ASX stocks. Over the past year, I’ve diligently provided insights into the best uptrends and downtrends across the Australian Securities Exchange, and I hope many of you have benefited from this information.
Highlighting the Top 5 Featured Uptrends:
This week, let’s take a moment to celebrate the top five stocks featured most frequently in uptrends:
-
Commonwealth Bank of Australia (CBA)
- 52 features
- First featured: 4 June 2024 at $122.46
- Last price: $173.84 (+42.0%)
- Maximum Favourable Excursion (MFE): $176.46 (+44.1%)
-
Catalyst Metals (CYL)
- 42 features
- First featured: 27 May 2024 at $1.14
- Last price: $6.35 (+457.0%)
- MFE: $7.19 (+530.7%)
-
Pro Medicus (PME)
- 40 features
- First featured: 11 June 2024 at $128.06
- Last price: $274.48 (+114.3%)
- MFE: $298.98 (+133.5%)
-
Technology One (TNE)
- 40 features
- First featured: 5 June 2024 at $18.03
- Last price: $39.00 (+116.3%)
- MFE: $38.61 (+117.0%)
- Hub24 (HUB)
- 35 features
- First featured: 24 May 2024 at $42.70
- Last price: $80.27 (+88%)
- MFE: $92.65 (+117.0%)
On average, these five stocks have experienced a gain of 163.5% based on their latest prices and 187.9% when accounting for their MFE. All these stocks remain in both short- and long-term uptrends.
The landscape of market trends is ever-changing, and while it’s uncertain who will make the top five next year, the potential for these stocks to feature again remains strong. Trend following is about observing rather than predicting; we’ll continue to monitor emerging trends in the upcoming sessions 📈.
Welcome to the ChartWatch Daily ASX Scans
In this series, I provide scan lists derived from a trend-following technical analysis approach that aims to highlight the best uptrends and downtrends in the ASX.
Should you wish to analyse the stocks more effectively, consider using AI tools for converting today’s tables into handy lists suitable for platforms like TradingView. This will enable you to quickly assess the best performing stocks in real time.
Understanding Uptrends and Downtrends
Investors often prefer to buy stocks in robust uptrends while selling or short selling those in downtrends. However, how you use these lists is ultimately up to you. Many stocks may reappear if they consistently meet my criteria, so ongoing research is vital to keep track of changes in trends.
| Today’s Uptrends Scan List: | Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|---|
| Adriatic Metals | ADT | $5.04 | +14.3% | +8.9% | |
| ALS | ALQ | $17.69 | +12.9% | +22.2% | |
| Austal | ASB | $5.11 | +0.6% | +112.9% | |
| Global X Uranium ETF | ATOM | $16.51 | +30.9% | -4.2% | |
| Bendigo and Adelaide Bank | BEN | $11.86 | +9.9% | +7.0% |
Key Stocks with Strong Demand from Today’s Uptrends:
Highlighted stocks showing significant demand include Adriatic Metals (ADT), Global X Uranium ETF (ATOM), Codan (CDA), and others. Each of these stocks displays robust momentum.
| Today’s Downtrends Scan List: | Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|---|
| Amcor | AMC | $14.05 | -5.6% | -7.0% | |
| Aurizon | AZJ | $2.92 | -6.4% | -21.5% | |
| Botanix Pharmaceuticals | BOT | $0.355 | -16.5% | +29.1% |
Key Stocks with Notable Supply in Today’s Downtrends:
Stocks such as Amcor (AMC), Aurizon (AZJ), and others have registered excess supply, indicating trends to watch closely.
Important:
- Future price movements are uncertain; trends can shift rapidly.
- This list is a selection and does not encompass all stocks.
- These scans serve primarily as an educational tool, and individual research is encouraged.
Stay tuned for daily updates and analyses to stay ahead in your trading strategies.
