Table of Contents
Overview of ASX Market Trends
In the current edition of ChartWatch ASX Scans, three of Australia’s Big Four banks highlight a range of stocks experiencing upward trends. With major fund managers perceiving a decrease in geopolitical risks from the Middle East, technology stocks are also making strides alongside the financial sector, showcasing a robust bullish trend in the market.
Recent scans have identified several stocks and exchange-traded funds (ETFs) focused on emerging technology sectors such as semiconductors, esports, data centres, and artificial intelligence. ETFs, which trade like individual stocks while holding diversified portfolios, have gained popularity due to their cost-effectiveness, liquidity, and transparency, appealing to both retail and institutional investors.
Featured Technology ETFs
Here are the technology-themed ETFs making an impact:
- BetaShares Asia Tech Tigers ETF (ASIA)
- VanEck Video Gaming Esports ETF (ESPO)
- Global X Artificial Intelligence ETF (GXAI)
- Global X Semiconductor ETF (SEMI)
Furthermore, NextDC (NXT), a data centre operator, has also made a notable appearance in the top-performing stocks. The clustering of stocks within the same sector often signals that active fund managers are focusing on particular themes, leading to strong, low-volatility trends—considered highly favourable by investors.
Daily ASX Scans
This "ChartWatch" series is designed to provide insights based on a trend-following technical analysis approach. The aim is to highlight the best-performing stocks and identify those in downward trajectories.
Investors can utilise the information presented here to aid their trading strategies—buying into stocks showcasing robust upward momentum and steering clear of those showing declining trends. It’s important to remember that many stocks on these lists may recur, as long as they align with the set criteria, though there’s no alert system for stocks that fall off the list; ongoing research is essential.
Uptrends Scan List
Below is a selection of prominent companies currently experiencing uptrends, alongside their recent price movements:
| Company | Code | Last Price | 1mo % Change | 1yr % Change |
|---|---|---|---|---|
| AMA Group | AMA | $0.105 | +23.5% | +201.1% |
| Aspen Group | APZ | $3.92 | +15.6% | +120.8% |
| Autosports Group | ASG | $2.27 | +5.6% | +3.2% |
| BetaShares Asia Tech Tigers ETF | ASIA | $11.64 | +5.8% | +23.6% |
| Ausgold | AUC | $0.760 | +24.6% | +123.5% |
| BCI Minerals | BCI | $0.345 | +16.9% | +53.3% |
| Brickworks | BKW | $33.94 | +24.3% | +24.8% |
| Commonwealth Bank of Australia | CBA | $188.13 | +8.2% | +47.3% |
| VanEck Video Gaming Esports ETF | ESPO | $20.45 | +6.0% | +63.9% |
| NextDC | NXT | $14.49 | +10.5% | -17.8% |
Strong demand is noted in stocks such as AMA Group, Aspen Group, and Commonwealth Bank, among others.
Downtrends Scan List
Conversely, the following companies currently reflect downward movements:
| Company | Code | Last Price | 1mo % Change | 1yr % Change |
|---|---|---|---|---|
| AIC Mines | A1M | $0.300 | -14.3% | -30.2% |
| Audinate Group | AD8 | $6.91 | -7.2% | -58.1% |
| AGL Energy | AGL | $9.87 | -3.6% | -5.6% |
| Avita Medical | AVH | $1.565 | -23.3% | -36.1% |
| Helloworld Travel | HLO | $1.335 | -11.6% | -41.7% |
| Treasury Wine Estates | TWE | $8.00 | -4.4% | -35.6% |
Noteworthy downtrends include Audinate Group and AGL Energy, characterised by strong selling pressure.
Conclusion
In summary, the Australian stock market reveals a significant inclination towards uptrending stocks and ETFs, notably in banking and technology. However, vigilance is crucial as trends can change rapidly, necessitating continuous market research and analysis. This resource serves as an educational tool to enhance understanding and provide insights, albeit individual investors should conduct thorough evaluations before making trading decisions.
