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ASX Gold Stocks Surge Amid Market Fluctuations
Gold stocks on the ASX are exhibiting remarkable resilience even as the market endures volatility, presenting a robust bull market. This continued strength is noteworthy, especially as gold prices face downward pressures on their technical fronts, which are regularly monitored in updates like the Evening Wrap’s ChartWatch.
In today’s trend analysis, many gold stocks featured in the Uptrends Scan Lists exemplify the vast array of opportunities. Additionally, the upside for ‘Digital gold’ is highlighted by the performance of the Vaneck Bitcoin ETF (VBTC), which deserves attention as investors seek alternative assets.
Conversely, the Downtrends list reveals several stocks struggling to maintain momentum. Notably, Paladin Energy (PDN) reappears following a break and is joined by Stanmore Resources (SMR) and Humm Group (HUM), indicating that some companies are struggling to maintain their market positions.
Welcome to my ChartWatch Daily ASX Scans series, where I share insights and findings through a trend-following technical analysis methodology. My aim is to guide investors towards promising uptrends while also highlighting those in decline.
Whether you wish to invest in stocks that display strong uptrends or look to mitigate losses by avoiding downtrends, the choice remains yours. Notably, many names recur in these lists as they consistently meet my evaluation criteria. However, these lists don’t provide alerts for stock removals, so individuals must conduct their own research to keep track of changing market behaviours.
Uptrends Scan List
| Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
| Adairs | ADH | $2.68 | +27.0% | +44.1% |
| AMA Group | AMA | $0.088 | +35.4% | +113.9% |
| Ausgold | AUC | $0.630 | +12.5% | +133.3% |
| Capral | CAA | $11.47 | +26.5% | +18.9% |
| Catapult Group International | CAT | $5.30 | +41.7% | +261.8% |
| Codan | CDA | $17.31 | +18.2% | +61.8% |
| COG Financial Services | COG | $1.450 | +12.4% | +24.5% |
| Cedar Woods Properties | CWP | $6.56 | +26.9% | +42.6% |
| Develop Global | DVP | $3.79 | +43.0% | +61.3% |
| Emerald Resources | EMR | $4.63 | +4.3% | +22.8% |
| Energy One | EOL | $14.01 | +18.8% | +229.7% |
| Genesis Minerals | GMD | $4.39 | -0.9% | +129.2% |
| Gold Road Resources | GOR | $3.35 | 0% | +100.6% |
| … | … | … | … | … |
Today’s Highlighted Uptrends
The following stocks demonstrate significant demand from today’s Uptrends Scan:
- Develop Global (ASX: DVP)
- Emerald Resources (ASX: EMR)
- Energy One (ASX: EOL)
- Genesis Minerals (ASX: GMD)
Downtrends Scan List
| Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
| Australian Clinical Labs | ACL | $2.97 | +1.4% | +28.0% |
| Aristocrat Leisure | ALL | $60.57 | -1.5% | +29.1% |
| Austin Engineering | ANG | $0.345 | -17.9% | -36.7% |
| Avita Medical | AVH | $2.05 | -29.3% | -17.7% |
| Paladin Energy | PDN | $5.41 | +35.9% | -66.7% |
| Humm Group | HUM | $0.475 | 0% | +10.5% |
| … | … | … | … | … |
Today’s Featured Downtrends
The stocks exhibiting significant supply concerns from the Downtrends Scan include:
- Austin Engineering (ASX: ANG)
- Avita Medical (ASX: AVH)
- Aurizon (ASX: AZJ)
- Cettire (ASX: CTT)
Conclusion
Always remember that the future can shift investment landscapes unpredictably. Observing trends provides insight but does not guarantee outcomes. This analysis serves solely as a guideline based on current market conditions, and it is essential for all investors to stay informed and involved in their investment decisions.
For continued updates, ensure you frequently consult the charts and the latest trends to navigate the dynamic world of ASX stocks effectively.
