Hey there, fellow investors and traders! Today, we're diving into the world of technical analysis and trend following with a focus on the Australian Securities Exchange (ASX). Get ready for an exciting journey as we explore the insights of Australia's premier technical analyst, Carl Capolingua.
Imagine this: just yesterday, the Feature Uptrend list hit an all-time low of 1, but today, it's bounced back to a more reassuring 13. However, there's a catch - the Downtrends Scan List is still packed with constituents, indicating a potential soft spot in the market. It's like a game of cat and mouse, with trends shifting and stocks moving in unexpected directions.
Welcome to ChartWatch Daily ASX Scans!
In this series, Carl presents scan lists based on his unique trend-following methodology. His goal? To keep you ahead of the curve by identifying the hottest uptrends and downtrends on the ASX. But that's not all - Carl also hosts live webinars, where he analyzes ASX stocks requested by viewers, providing detailed insights into his methodology.
How to Navigate the Uptrends & Downtrends Lists:
Feel free to convert the tables into lists and upload them to your favorite trading platform. This way, you can swiftly navigate through charts and identify the best uptrends and downtrends. Some investors prefer to buy stocks in strong uptrends and avoid or short-sell those in downtrends, but the choice is yours!
Note that stocks appearing in these lists have likely been there before. As long as they meet Carl's criteria, they'll continue to appear. However, there won't be notifications when they drop off, so stay vigilant and do your own research to spot trend changes.
Today's Uptrends Scan List:
Here are the stocks that Carl believes are showing the strongest excess demand:
- Global X Battery Tech & Lithium ETF (ACDC)
- Blinklab (BB1)
- Commonwealth Bank of Australia (CBA)
- Champion Iron (CIA)
- Caprice Resources (CRS)
- Focus Minerals (FML)
- G50 Corp (G50)
- Kingsgate Consolidated (KCN)
- Mayfield Group Holdings (MYG)
- Regis Resources (RRL)
- Sims (SGM)
- Titan Minerals (TTM)
- Westgold Resources (WGX)
Downtrends Scan List:
Now, let's take a look at the stocks with the strongest excess supply:
- Audinate Group (AD8)
- Adairs (ADH)
- Bapcor (BAP)
- Car Group (CAR)
- Flight Centre Travel Group (FLT)
- G8 Education (GEM)
- Goodman Group (GMG)
- Guzman Y Gomez (GYG)
- IPH (IPH)
- JB HI-FI (JBH)
- Kogan.Com (KGN)
- McMillan Shakespeare (MMS)
- Metal Powder Works (MPW)
- News Corp. Class B (NWS)
- Nuix (NXL)
- Pinnacle Investment Management Group (PNI)
- REA Group (REA)
- Resmed Inc (RMD)
- Supply Network (SNL)
- Spark New Zealand (SPK)
- Treasury Wine Estates (TWE)
- Web Travel Group (WEB)
- Wesfarmers (WES)
- Wisetech Global (WTC)
Important Considerations:
- For a deeper dive into Carl's trend-following approach, check out his Technical Analysis for Beginners: ChartWatch Primer.
- Remember, the future is unpredictable. Trends can change in an instant, so stay vigilant.
- These lists are curated by Carl and may not be exhaustive. Stocks may appear intermittently based on his criteria.
- This is not a recommendation service but an educational tool to understand Carl's model better.
- Always do your own research and stay informed!
So, what do you think? Are you ready to explore these trends further? Let's continue the conversation in the comments and share our thoughts on these lists and the potential opportunities they present. Happy trading, everyone!
