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Overview of the Latest ASX Trends
Today’s uptrends scan on the ASX reports a total of nine stocks, a considerable improvement from Thursday’s two. While this indicates a positive trend, it’s essential to focus on the quality of these stocks rather than merely their quantity. I make a concerted effort to include only the most robust uptrends and downtrends in my curated lists.
Interestingly, the benchmark ASX 200 has experienced a significant recovery over the past two weeks following the downturn prompted by the Trump Trade War. However, I find it peculiar that the number of notable uptrends remains limited.
Featured Uptrends
Among today’s uptrends, Telix Pharmaceuticals (TLX) makes a welcome return after a hiatus. It has previously appeared 20 times since the inception of ChartWatch ASX Scans last May. It joins Catalyst Metals (CYL), which has an impressive history with 42 appearances, and Energy One (EOL), making its 11th appearance.
The downtrends scan list is notably thin as well, featuring just six stocks, which might be the lowest I’ve seen. Prominent underperformers include Coronado Global Resources (CRN), IDP Education (IEL), Lendlease Group (LLC), and Star Entertainment Group (SGR), each with a troubled performance history.
Uptrends Scan List
| Company | Code | Last Price | 1 Month % | 1 Year % |
|---|---|---|---|---|
| Charter Hall Retail Reit | CQR | $3.74 | +6.9% | +11.6% |
| Catalyst Metals | CYL | $6.56 | +42.6% | +735.7% |
| Energy One | EOL | $11.89 | +14.3% | +198.0% |
| Fleetwood | FWD | $2.69 | +19.6% | +87.5% |
| IVE Group | IGL | $2.47 | +2.9% | +17.1% |
| Pantoro | PNR | $3.05 | +8.7% | +106.2% |
| SRG Global | SRG | $1.29 | +12.2% | +60.2% |
| Saturn Metals | STN | $0.325 | +14.0% | +51.2% |
| Solvar | SVR | $1.59 | +19.5% | +58.2% |
| Southern Cross Gold | SX2 | $5.73 | +27.6% | 0% |
| Southern Cross Electrical Engineering | SXE | $1.825 | +17.4% | +54.7% |
| Turaco Gold | TCG | $0.440 | +27.5% | +144.4% |
| Telix Pharmaceuticals | TLX | $28.56 | -2.2% | +109.8% |
| TPG Telecom | TPG | $4.96 | -0.2% | +15.9% |
| Vicinity Centres | VCX | $2.33 | +6.9% | +21.4% |
| Warriedar Resources | WA8 | $0.080 | +40.4% | +66.7% |
| WIA Gold | WIA | $0.200 | +25.0% | +112.8% |
Highlighted Stocks
The stocks demonstrating the strongest demand from the uptrends list include Energy One (ASX: EOL), Pantoro (ASX: PNR), Saturn Metals (ASX: STN), Solvar (ASX: SVR), Turaco Gold (ASX: TCG), Telix Pharmaceuticals (ASX: TLX), TPG Telecom (ASX: TPG), Warriedar Resources (ASX: WA8), and WIA Gold (ASX: WIA).
Downtrends Scan List
| Company | Code | Last Price | 1 Month % | 1 Year % |
|---|---|---|---|---|
| Coronado Global Resources | CRN | $0.225 | -36.6% | -81.3% |
| IDP Education | IEL | $8.15 | -14.9% | -50.1% |
| Jumbo Interactive | JIN | $10.10 | -5.3% | -37.0% |
| Lendlease Group | LLC | $5.22 | -15.5% | -18.4% |
| Redox | RDX | $2.71 | -0.4% | -10.0% |
| The Star Entertainment Group | SGR | $0.105 | -8.7% | -81.6% |
Significant Findings
The stocks reflecting the strongest supply from today’s downtrends include Coronado Global Resources (ASX: CRN), IDP Education (ASX: IEL), Lendlease Group (ASX: LLC), Redox (ASX: RDX), and The Star Entertainment Group (ASX: SGR).
Conclusion
As part of my ChartWatch series, these daily ASX scans provide a comprehensive overview of notable uptrends and downtrends based on rigorous technical analysis. While the data offers valuable insights, individual investors should conduct their own thorough research, as market conditions can shift rapidly. Remember, these lists serve as a guide to assist in your investment decisions.
