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Daily ASX Scans: Uptrends and Downtrends Overview
ETF Market Trends
In today’s ASX market scan, significant patterns emerged, particularly a rise in the presence of Exchange Traded Funds (ETFs). For those unfamiliar, ETFs are investment funds traded on the ASX akin to regular shares, designed to track indices, sectors, or asset classes, such as the ASX 200 or commodities like gold.
ETFs are popular due to their ability to provide investors with a low-cost method for diversifying holdings through a single investment vehicle, enabling easy buying and selling via standard brokerage accounts. Unlike traditional managed funds, they offer greater liquidity, backed by market makers and the investor community. In Australia, there’s been a surge in ETF popularity as investors seek transparent, versatile, and tax-efficient avenues to global and domestic investments.
Notable Trends Observed
Upon reviewing the latest ChartWatch ASX scans, ETFs focusing on small-cap, and Chinese/Asian equity, along with those concentrated on battery and energy transition metals, are gaining traction. This trend aligns with many of the individual stocks currently identified in today’s Uptrends Scan List, which likely includes constituents from these ETFs (excluding the Chinese/Asian equity ETFs).
Investors now face a choice: they can curate a customised portfolio based on individual stocks showing positive momentum or simplify their strategy by investing in a selection of ETFs that encompass a broad range of strengths.
Update on ChartWatch Daily ASX Scans
Welcome to today’s ChartWatch update – this series presents a curated list utilising a trend-following technical analysis methodology, aimed at highlighting the most promising uptrends and downtrends in the ASX.
Investors can use AI to transform the tables provided into lists suitable for platforms like TradingView, enhancing their ability to analyse market trends efficiently. While some favour purchasing stocks in strong uptrends while avoiding downtrends, the final utilisation of this information is at the investor’s discretion.
Note: Several stocks may repeatedly feature in these lists if they continue to meet predefined criteria, but it’s crucial for investors to conduct their research when trends change.
Today’s Uptrends Scan List
| Company | Code | Last Price | 1 Month % | 1 Year % |
|---|---|---|---|---|
| Life360 | 360 | $46.48 | +21.7% | +147.9% |
| A2 Milk Company | A2M | $8.95 | +13.0% | +58.4% |
| Aussie Broadband | ABB | $5.36 | +25.8% | +74.0% |
| Abacus Group | ABG | $1.295 | +12.1% | +19.4% |
| Global X Battery & Lithium ETF | ACDC | $106.36 | +5.7% | +33.3% |
| APA Group | APA | $8.79 | +5.3% | +10.8% |
| ARB Corporation | ARB | $40.73 | +18.5% | -0.9% |
| Austal | ASB | $6.95 | +15.1% | +199.6% |
(Additional companies and their respective data can be referenced in the complete list provided in the original source.)
Featured Stocks from Today’s Uptrend List
The stocks demonstrating the most pronounced excess demand include Life360 (ASX: 360), Aussie Broadband (ASX: ABB), and Global X Battery Tech & Lithium ETF (ASX: ACDC), among others.
Today’s Downtrends Scan List
| Company | Code | Last Price | 1 Month % | 1 Year % |
|---|---|---|---|---|
| Australian Clinical Labs | ACL | $2.50 | -11.7% | -8.4% |
| AGL Energy | AGL | $8.46 | -13.5% | -28.3% |
| ASX | ASX | $62.83 | -10.0% | +1.0% |
| Bapcor | BAP | $3.96 | +6.5% | -21.4% |
| CSL | CSL | $216.40 | -19.2% | -29.9% |
| Gentrack Group | GTK | $9.17 | -5.7% | +1.6% |
(See the original source for complete downtrend data.)
Featured Stocks from Today’s Downtrend List
The analysis revealed excess supply in stocks such as Australian Clinical Labs (ASX: ACL) and AGL Energy (ASX: AGL).
Key Considerations for Using ChartWatch Data
- Volatility of Market Trends: Trends can shift rapidly, and a stock may not maintain its trajectory until market close.
- Curated Lists: The presented lists are selectively curated; stocks may not appear daily but can re-emerge as warranted.
- Not a Recommendation: This information serves as an educational tool rather than a specific investment recommendation.
- Research Advised: Always undertake thorough personal research before making investment decisions.
In summary, today’s ASX analysis showcases particular stocks and ETFs likely to yield significant investment potential and highlights the importance of ongoing market research.
