Navigating the ASX: Identifying Strong Uptrends and Downtrends
For investors keen on leveraging technical analysis to spot promising opportunities on the Australian Securities Exchange (ASX), a systematic approach to identifying prevailing trends is paramount. This analysis focuses on a trend-following methodology, aiming to highlight stocks demonstrating robust upward momentum (uptrends) and those exhibiting significant downward pressure (downtrends). Understanding these market dynamics can be a crucial step in making informed investment decisions, whether that involves capitalising on rising stocks or strategically avoiding or even short-selling those in decline.
The lists presented below are curated based on specific technical criteria designed to identify these trends. It’s important to note that the ASX is a dynamic marketplace, and stock performance can shift rapidly. Therefore, while these lists serve as valuable snapshots, they are not a guarantee of future performance. Investors are strongly encouraged to conduct their own thorough research and due diligence before making any investment decisions.
Understanding the Scan Lists
The core of this analysis lies in two primary scan lists:
- Uptrends Scan List: This list comprises stocks exhibiting strong positive momentum, indicating consistent buying pressure and an upward trajectory in their share price.
- Downtrends Scan List: Conversely, this list highlights stocks experiencing significant selling pressure, characterised by a declining share price and a bearish outlook.
How to Utilise the Lists:
These lists can be a powerful tool for traders and investors. For those who prefer a more hands-on approach, the data can be readily converted into formats compatible with popular trading platforms like TradingView. This allows for seamless navigation between individual stock charts, enabling a quick visual assessment of the strongest uptrends and downtrends currently present on the ASX.
The fundamental principle behind using these lists is to align your investment strategy with the prevailing market direction. Some investors favour buying stocks that are firmly established in an uptrend, anticipating further gains. Others prefer to steer clear of or even short-sell stocks that are caught in a downtrend, aiming to profit from their decline. The ultimate application of these lists, however, rests with your individual trading strategy and risk tolerance.
It is common for certain stocks to appear on these lists repeatedly. This persistence is a testament to their consistent adherence to the defined technical criteria. However, it is also crucial to recognise that a stock’s inclusion is not permanent. When a trend reverses or weakens, the stock will naturally fall off the list. There will be no automatic notification of such a change, underscoring the necessity for ongoing individual research to monitor trend shifts.
Today’s Uptrends Scan List 📈
This section showcases companies currently demonstrating strong upward price momentum on the ASX.
| Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
| 4DMedical | 4DX | $4.33 | +37.5% | +1024.7% |
| The A2 Milk Co. | A2M | $9.96 | +16.8% | +25.0% |
| Besra Gold | BEZ | $0.150 | +92.3% | +194.1% |
| Brazilian Rare Earths | BRE | $5.36 | +39.6% | +197.0% |
| Bioxyne | BXN | $0.059 | +37.2% | +96.7% |
| Chrysos Corp. | C79 | $9.67 | +33.4% | +108.4% |
| Droneshield | DRO | $4.07 | +27.6% | +418.5% |
| Dateline Resources | DTR | $0.395 | +31.7% | +13066.7% |
| Duratec | DUR | $2.32 | +4.5% | +47.3% |
| Echoiq | EIQ | $0.730 | +52.1% | +170.4% |
| Elsight | ELS | $5.48 | +43.1% | +1401.4% |
| Fortifai | FTI | $0.450 | +83.7% | +1353.4% |
| L1 Group | L1G | $1.270 | +10.9% | +117.1% |
| Lindian Resources | LIN | $0.760 | +85.4% | +667.7% |
| Magellan Financial Group | MFG | $11.55 | +32.2% | +40.8% |
| Odyssey Gold | ODY | $0.042 | +35.5% | +75.0% |
| BetaShares Crude Oil ETF | OOO | $7.13 | +26.4% | +32.3% |
| Pexa Group | PXA | $15.92 | +17.1% | +35.7% |
| Ramsay Health Care | RHC | $44.52 | +23.6% | +32.7% |
| Red Hill Minerals | RHI | $5.12 | +7.8% | +48.8% |
| Sportshero | SHO | $0.135 | +70.9% | +610.5% |
| Sky Metals | SKY | $0.175 | +6.1% | +236.5% |
| Santos | STO | $7.46 | +6.7% | +17.5% |
| Telstra Group | TLS | $5.24 | +6.3% | +24.8% |
| Torque Metals. | TOR | $0.370 | +32.1% | +273.7% |
| Titan Minerals | TTM | $1.080 | +16.8% | +160.2% |
| Viking Mines | VKA | $0.022 | +100.0% | +144.4% |
| Vysarn | VYS | $0.850 | +21.4% | +100.0% |
| Woodside Energy Group | WDS | $30.75 | +18.7% | +25.6% |
| Woolworths Group | WOW | $35.99 | +13.9% | +20.4% |
| Waratah Minerals | WTM | $0.800 | +34.5% | +370.6% |
Feature Charts from Today’s Uptrends List 🔎
From the comprehensive uptrends list, certain stocks stand out for exhibiting particularly strong demand. These are the companies showing the most significant signs of upward momentum, making them prime candidates for further investigation.
The stocks identified as showing the strongest excess demand from today’s Uptrends List include: A2 Milk Co. (A2M), Besra Gold (BEZ), Droneshield (DRO), Echoiq (EIQ), Elsight (ELS), Lindian Resources (LIN), Odyssey Gold (ODY), BetaShares Crude Oil ETF (OOO), Pexa (PXA), Ramsay Health Care (RHC), Sportshero (SHO), Santos (STO), Telstra (TLS), Torque Metals. (TOR), Titan Minerals (TTM), Viking Mines (VKA), and Woodside Energy (WDS).
Here are 10 randomly chosen feature uptrend charts for your review:
Today’s Downtrends Scan List 📉
This section identifies companies currently experiencing significant downward price pressure on the ASX.
| Company | Code | Last Price | 1mo % | 1yr % |
|---|---|---|---|---|
| Abacus Group | ABG | $1.020 | -10.9% | -11.3% |
| Arena Reit. | ARF | $3.32 | -7.5% | -8.3% |
| Challenger | CGF | $7.99 | -12.7% | +41.9% |
| Charter Hall Group | CHC | $20.98 | -9.8% | +22.7% |
| Centuria Industrial Reit | CIP | $3.13 | -3.1% | +4.0% |
| COG Financial Services | COG | $1.400 | -24.3% | +38.6% |
| Cochlear | COH | $180.06 | -30.4% | -30.9% |
| CH Social Infrastructure Reit | CQE | $2.77 | -6.4% | -4.5% |
| Dicker Data | DDR | $8.61 | -13.3% | +0.7% |
| Dexus | DXS | $6.40 | -2.3% | -15.5% |
| Ebos Group | EBO | $19.18 | -13.4% | -44.4% |
| Fleetpartners Group | FPR | $2.47 | -9.9% | -6.8% |
| Fleetwood | FWD | $2.02 | -23.5% | -12.9% |
| GPT Group | GPT | $4.78 | -8.4% | +2.8% |
| Homeco Daily Needs Reit | HDN | $1.240 | -4.6% | +2.9% |
| Helloworld Travel | HLO | $1.615 | -19.3% | -5.3% |
| Healius | HLS | $0.630 | -31.5% | -36.2% |
| Harvey Norman | HVN | $5.46 | -16.5% | +2.6% |
| Lendlease Group | LLC | $3.83 | -18.0% | -37.1% |
| Mirvac Group | MGR | $1.900 | -5.0% | -10.4% |
| Medibank Private | MPL | $4.29 | -6.7% | -2.7% |
| Metcash | MTS | $3.11 | -6.3% | -0.3% |
| Myer | MYR | $0.330 | -21.4% | -56.3% |
| Propel Funeral Partners | PFP | $4.18 | -15.7% | -20.2% |
| Perenti | PRN | $2.12 | -20.9% | +63.7% |
| Qualitas | QAL | $2.83 | -9.6% | +2.5% |
| Ricegrowers | SGLLV | $12.02 | -17.1% | +16.4% |
| Stockland | SGP | $4.79 | -10.3% | -6.4% |
Feature Charts from Today’s Downtrends List 🔎
Within the downtrends list, specific stocks are identified as displaying the most pronounced signs of selling pressure. These are the companies exhibiting the strongest excess supply, indicating a significant bearish sentiment.
The stocks identified as showing the strongest excess supply from today’s Downtrends List are: Challenger (CGF), COG Financial Services (COG), Cochlear (COH), Fleetpartners (FPR), Fleetwood (FWD), GPT (GPT), Helloworld Travel (HLO), Harvey Norman (HVN), Mirvac (MGR), Metcash (MTS), Myer (MYR), Perenti (PRN), Ricegrowers (SGLLV), and Stockland (SGP).
Here are 10 randomly chosen feature downtrend charts for your consideration:
Important Considerations for Using These Scan Lists
When utilising these daily ASX scan lists, it’s crucial to approach them with a clear understanding of their purpose and limitations:
- Understanding Trend Following: For a deeper dive into the principles of trend-following technical analysis, consult resources that explain the methodology in detail. This will provide context for why certain stocks appear on these lists and how the trends are identified.
- The Unpredictable Nature of Markets: The future is inherently uncertain, and market conditions can change at any moment. A stock that appears to be in a strong uptrend today could see its trajectory alter by the next trading session due to unforeseen events or shifts in market sentiment. Similarly, a stock in a downtrend may experience a reversal.
- Curated, Not Exhaustive Lists: These lists are not a comprehensive catalogue of every stock on the ASX. They are carefully selected based on specific technical criteria. Consequently, you may find that some stocks do not appear on a list for consecutive days. They might reappear later if they once again meet the defined criteria.
- Educational Aid, Not a Recommendation Service: These lists are designed as an educational tool to help you understand and apply a specific technical analysis model in a practical context. They are not a substitute for professional financial advice or a recommendation to buy or sell any particular security. The responsibility for monitoring a stock’s trend and determining why it may have been removed from a list ultimately lies with the individual investor.
- General Information and Due Diligence: The information provided here is for general educational purposes only. It is imperative that you conduct your own thorough research and analysis before making any investment decisions. Always consider your personal financial situation, risk tolerance, and investment objectives.
