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ChartWatch Daily ASX Scans Overview
As President Trump recalibrates certain policies, American tech stocks are witnessing a resurgence, which is positively influencing local Australian tech stocks as well. This trend is reflected in the latest Uptrends Scan List, featuring notable companies that have made significant gains.
Uptrending Stocks
In this report, a focus is placed on several Australian tech-centric firms showing promising upward trends, including:
- EML Payments (EML)
- Hub24 (HUB)
- Megaport (MP1)
- Netwealth Group (NWL)
- Objective Corporation (OCL)
- Rpmglobal (RUL)
- Technology One (TNE)
- Xero (XRO)
These companies have marked a strong presence in today’s Uptrends Scan List, showcasing their recovery and potential for further growth.
Market Analysis
With Australian stocks reaching their highest levels in 11 weeks, the number of stocks in decline is surprisingly low. The Downtrends Scan List comprises merely four stocks, primarily from the mining, finance, and entertainment sectors.
The ChartWatch Daily ASX Scans aim to highlight these trends using technical analysis for the benefit of investors keen to engage in trending securities. The approach encourages traders to either invest in stocks showing strong upward movements or to short-sell those firmly on a downward trajectory.
While some investors prefer buying shares in an upward movement and shunning those in decline, individual strategies may vary. Regular monitoring and independent research are crucial since recurring stocks in these lists may face changing trends that are not immediately signalled.
Today’s Uptrends Scan List
| Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
| Adairs | ADH | $2.66 | +32.3% | +38.5% |
| Australian Finance Group | AFG | $1.90 | +20.6% | +27.1% |
| Aurelia Metals | AMI | $0.315 | +57.5% | +65.8% |
| Bluescope Steel | BSL | $23.75 | +19.9% | +6.6% |
| EML Payments | EML | $1.030 | +27.2% | +1.5% |
| Hub24 | HUB | $83.04 | +44.6% | +103.4% |
| Technology One | TNE | $32.29 | +24.8% | +100.2% |
| Xero | XRO | $174.38 | +18.7% | +38.6% |
Among these, Cedar Woods Properties (CWP), Develop Global (DVP), and Hub24 (HUB) show exceptional demand, making them noteworthy considerations for investors.
Today’s Downtrends Scan List
| Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
| Chalice Mining | CHN | $1.08 | +30.1% | -25.0% |
| Judo Capital | JDO | $1.375 | -13.5% | 0% |
| Skycity Entertainment Group | SKC | $0.955 | -10.3% | -37.8% |
These stocks exhibit heightened supply pressure, and careful analysis of their performance trends is advised.
Important Considerations
While utilising the ChartWatch Daily ASX Scans, investors must remain alert to the inherent uncertainties of the market. Trading trends can shift unexpectedly, and stocks in well-defined trends may not maintain their trajectory.
The scan lists serve as a resource for informed trading strategies rather than definitive recommendations. Understanding these trends can better equip investors in navigating the stock market effectively, but consistent diligence and further research are paramount for successful trading.
In summary, the ChartWatch Daily ASX Scans provide a nuanced view of the Australian stock landscape, offering insights into emerging trends and potential investment opportunities. Always approach your trading decisions with careful consideration and comprehensive analysis.
