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The S&P/ASX 200 closed 57.0 points lower, down 0.70%.
Not dissimilar themes from what we have become accustomed to on the ASX 200 today – stronger gold stocks and weaker energy stocks. On the latter, I note they traded to their worst levels in over three years today. 📉
Dividends were another major theme today, with sizeable payouts from several Consumer Staples stocks including major supermarket operators Coles Group (COL) and Woolworths (WOW). Dividends equal share price losses, and both lost substantial ground today as a result.
Click/scroll through for the usual reporting of the major sector and stock-specific moves, the broker responses to them, as well as all the key upcoming economic data in tonight's Evening Wrap.
Also, I have detailed technical analysis on the NASDAQ Composite, S&P/ASX 200, and Uranium in today's ChartWatch.
Let's dive in!
Today in Review
Wed 05 Mar 25, 5:28pm (AEDT)
Name | Value | % Chg |
---|---|---|
Major Indices | ||
ASX 200 | 8,141.1 | -0.70% |
All Ords | 8,363.1 | -0.69% |
Small Ords | 3,078.9 | -0.75% |
All Tech | 3,730.6 | -0.37% |
Emerging Companies | 2,224.8 | -0.82% |
Currency | ||
AUD/USD | 0.6255 | -0.29% |
US Futures | ||
S&P 500 | 5,826.5 | +0.64% |
Dow Jones | 42,813.0 | +0.51% |
Nasdaq | 20,552.75 | +0.75% |
Name | Value | % Chg |
---|---|---|
Sector | ||
Utilities | 8,924.8 | +0.11% |
Real Estate | 3,702.9 | +0.10% |
Materials | 16,390.5 | -0.03% |
Information Technology | 2,529.9 | -0.10% |
Health Care | 43,158.5 | -0.12% |
Communication Services | 1,705.9 | -0.28% |
Industrials | 7,994.3 | -0.88% |
Financials | 8,569.2 | -0.95% |
Consumer Discretionary | 4,011.7 | -1.09% |
Energy | 8,125.3 | -1.68% |
Consumer Staples | 11,510.7 | -3.56% |
Markets
ASX 200 Session Chart
The S&P/ASX 200 (XJO) finished 57.0 points lower at 8,141.1, roughly at the mid-point of the session's range, 0.56% from the low and 0.70% from the high. In the broader-based S&P/ASX 300 (XKO), advancers lagged decliners by a convincing 78 to 196.
The Gold (XGD) sub-index (+0.50%) was the best performing sector today, likely in response to a modest rebound in the gold price overnight, and continued resilience in Asian trade today.
I note that several gold stocks made the gainers list in the Interesting Moves section below, and in particular stocks like West African Resources (+6.5%), Ora Banda Mining O (+4.9%), Black Cat Syndicate B (+4.7) have each appeared regularly in my ChartWatch ASX Scans Feature Uptrends for months.
I suspect, perusing their candles for today, they will each appear again in tomorrow’s update! 📈
Also avoiding the broader-market losses were the bond-proxy duo of Real Estate Investment Trusts (XPJ) (+0.19%) and Utilities (XUJ) (+0.11%). They earned a reprieve from recent losses likely due to the fact that even though risk-free market yields steadied overnight (chart in ChartWatch section below), they remain 0.25% rate cut multiples below where they were just a couple of weeks ago.
All other major ASX sectors logged losses, the heaviest of which was suffered by Consumer Staples (XSJ) (-3.6%), as major constituents Treasury Wine Estates (-5.6%), Coles Group (-4.4%) and Woolworths (-3.9%) each went ex-dividend.
Elsewhere, perennial loser Energy (XEJ) (-1.7%) took another turn for the worse, trading to is lowest level in over three years as investors continued to sell down sector holdings in the wake of falls in crude oil and uranium prices. As far as I can tell, dividends were not to blame here (although I do note Woodside Energy (-1.5%) goes ex-div tomorrow).
S&P/ASX 200 Energy Sector Index (XEJ) – a woeful existence! 👎 (click here for full size image)
Consumer Discretionary (XDJ) (-1.1%) and Financials (XFJ) (-0.95%) rounded out the list of worst performers at a sector level. Both sectors likely to bear the brunt of any perceived economic slowdown.
ChartWatch
NASDAQ Composite Index
⚠️ AMBER ALERT!!! ⚠️ (click here for full size image)
A far from convincing candle on the Comp Tuesday, and across the spectrum of major US stock indices.
Its upward pointing shadow shows early demand was quashed by continuing heavy supply. Investors still prefer the sidelines in the form of cash or bonds.
The most fascinating aspect of last night's trade was that last item…bonds. They too fell overnight (pushing risk-free market yields higher – which indicates that compared to stocks and bonds –cash was the big winner.
US 10 Year T-Bond Yield: Yields corresponds with bonds down... (click here for full size image)
So, we have over the last few weeks gone from:
Demand-side market (relatively strong economy + prospect of lower / benign rates outlook) = Demand for Stocks > Demand for Cash & Demand for Bonds
To:
Supply-side market (Trump Trade War / DOGE fears vs economy + prospect of lower rates outlook) = Demand for Stocks < Demand for Cash & Demand for Bonds
To:
Supply-side market (Trump Trade War / DOGE fears vs economy + prospect of lower rates outlook) = Demand for Cash > Demand for Stocks & Demand for Bonds
That last bit might appear only subtle – but it smacks of a market that just wants to be out of everything! Cash, as they say in the classics, is King 👑!
To be fair, though, looking at Tuesday’s candle, it did at least finish with a white body and a modest downward pointing shadow – a shadow that probed the lower depths to the long term trend ribbon.
So, the supply-side didn’t have it all their way – and that’s a smidge encouraging! 🤞
I have almost unanimously for the last 18 months, typed the word “uptrend” after the words “long term” and before the word “ribbon”.
As in: “long term uptrend ribbon”.
Note, about 3 sentences ago, I did not. As in, “long term trend ribbon”.
Yes, the “up” was omitted due to the fact the long term trend ribbon has transitioned to neutral (amber). I don’t think there’s much point in typing “long term neutral ribbon”, do you? 🤔
I will reiterate what I’ve said in the last few sessions since we entered the long term trend ribbon – we need a bounce – and we need it quick.
The longer we go without it, the more entrenched the desire to supply will become – and the more eroded the confidence among the demand-side that buying the dip (i.e., “Plan A”) is still the smartest thing to do.
White candles, downward pointing shadows – preferably big ones – preferably on some above average volume to tell us some big money soaked up some big supply. Tomorrow please, Mr. Market, or I fear we have a date with a far more sinister long term trend change! 🙏
S&P/ASX 200 (XJO)
Not an amber alert yet...but likely not far away! 🔭 (click here for full size image)
Another day, another unconvincing display from either side of the market.
Sure the supply side closed us with a black candle for the tenth time out of the last 13 candles since that Valentines Day 8616 record high (now but a distant memory!).
But, for the second day straight, and really for arguably the fifth time in the last eight candles, the demand-side showed some fight and bought the dip.
So it's somewhat of a fighting retreat by the demand-side, then. Still, points is points and the XJO has far fewer of those since this last downward move began.
The short term downtrend ribbon, price action (lower peaks and lower troughs), and candles (predominantly supply-side, i.e., black bodied and or upward pointing shadows) all suggest short term supply-side control.
The long term uptrend remains intact, although I suspect it is the better part of a week of further declines before it will, like the Comp's trend ribbon, transition to neutral.
I'd argue that so far, the long term uptrend ribbon is attempting to do its job of acting as a point of dynamic demand – granted it could be doing it better.
The steady buying post-opening-dip over the last two sessions continues to give me hope that the demand-side can grapple back control around here for at least a few candles – if only to ultimately test and fail at now-heavy points of supply that exist all the way back up to 8616.
The first of those pressure points is likely the short term downtrend ribbon, presently around 8315-35, and then there's a couple of static points to contend with at 8353-66.
If I'm wrong, and we're about to crack – I suggest a close below 8051 puts us beyond a point of no return for the long term trend.
Uranium Futures (Front month, back-adjusted) COMEX
Forget amber...it's all red, red, red, for uranium 🚨 (click here for full size image)
Just a quick update here because I suspect the chart requires little extra analysis compared to our last update on it in the Evening Wrap on 17 February.
But I did refer to it in last night’s Wrap, noting that uranium stocks were belted even as the uranium price shown in the chart above was relatively flat.
As I ticked through my charts this morning, I noted that as of the latest Tuesday print, the uranium price has potentially begun yet another leg down.
Short term and long term downtrends are well intact here – and both continue to do an excellent job of acting as a zone of dynamic supply.
The price action is firmly set at lower peaks and lower troughs, indicating supply reinforcement and demand removal respectively.
Until I see signs of the opposite of the above, there’s no reason to think the prevailing uranium downtrends cannot continue. It will, however, be very interesting to see what happens at the historic 61.40 point of demand. 🧐
I hope my consistent analysis on the uranium price since it turned the corner early last year has helped guide your opinion on ASX listed uranium stocks – which have almost all appeared in my ChartWatch ASX Scans Feature Downtrends lists regularly over the past several months.
The old adage “The trend is your friend” can be substantially misleading if you're of the ignore the trend persuasion – because if this is the case – it might well be your worst enemy! 🤕
Economy
Today
AUS Gross Domestic Product (GDP) December quarter
+0.6% q/q vs +0.5% q/q forecast and +0.3% q/q in September
CHN Caixin Services PMI February
51.4 vs 50.8 forecast and 51.0 in January
Readings over 50 indicate expansion in the sector, so the Chinese Services industry expanded at a faster rate than expected in February
Later this week
Thursday
02:00 USA ISM Services PMI February (53.0 forecast vs 52.8 in January)
11:30 AUS Building Approvals January (-0.1% forecast vs +0.7% in December)
Friday
00:15 EUR European Central Bank (ECB) Main Refinancing Rate & Statement (2.65% forecast vs 2.9% present)
00:45 EUR ECB Press Conference
Saturday
00:30 USA Non-Farm Payroll Data February
Employment Change: +156,000 forecast vs +143,000 in January
Average Hourly Earnings: +0.3% m/m forecast vs +0.5% m/m in January
Unemployment Rate: 4.0% forecast vs 4.0% in January
Latest News
Lithium igo ltr
PLS, MIN, IGO and LTR face “more challenging” lithium environment says Morgan Stanley
Wed 05 Mar 25, 12:03pm (AEDT)
Technical Analysis 4dx armr
ChartWatch ASX Scans: Santos, Mineral Resources, Champion Iron, Macquarie Technology, Global X Gold ETF
Wed 05 Mar 25, 9:30am (AEDT)
Market Wraps
Morning Wrap: ASX in for more pain after Dow, S&P 500 fall sharply on Trump tariffs
Wed 05 Mar 25, 8:58am (AEDT)
Market Wraps 360 bgl
Evening Wrap: ASX 200 down as Trump's tariff war smashes WDS, STO, uranium stocks
Tue 04 Mar 25, 6:33pm (AEDT)
Technical Analysis 4dx armr
ChartWatch ASX Scans: Telstra, Qantas, Megaport, EML Payments, Austal, Nuix, BetaShares Global Defence ETF
Tue 04 Mar 25, 9:30am (AEDT)
Market Wraps
Morning Wrap: ASX set to slide after Trump confirms tariffs for Mexico, Cananda
Tue 04 Mar 25, 9:02am (AEDT)
More News
Interesting Movers
Trading higher
+15.1% Vulcan Energy Resources (VUL) - No news, possibly this glossy love-fest: Forbes Australia – likely stoked some early interest…and the rest was probably frantic short covering!
+10.8% Appen (APX) - Becoming a substantial holder (UBS stock lending agreement usually means shorts getting added – so there's some push and shove going on more broadly speaking), but apart from that, today's move is simply consistent with recent extreme volatility.
+10.0% Novonix (NVX) - No news 🤔 (no other non-company news I could find…decent volume, left field move given prevailing trends. Interesting…perhaps some VUL shorts getting called and having to knock their exposure here also!?).
+6.8% Resolute Mining (RSG) - No news, general strength across the broader Gold sector today.
+6.5% West African Resources (WAF) - No news, general strength across the broader Gold sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈
+6.1% Clinuvel Pharmaceuticals (CUV) - Continued positive response to 04-Mar CLINUVEL Unveils Vitiligo Program for AAD 2025.
+5.6% Liontown Resources (LTR) - No news 🤔, (seems to be consistently avoiding ongoing losses elsewhere in the sector).
+5.2% Bellevue Gold (BGL) - No news, general strength across the broader Gold sector today.
+5.0% Insignia Financial (IFL) - No news, bounced in the wake of the recent sharp selloff.
+4.9% Ora Banda Mining (OBM) - No news, general strength across the broader Gold sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈
+4.7% Black Cat Syndicate (BC8) - No news, general strength across the broader Gold sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈
Trading lower
-13.3% Opthea (OPT) - Continued negative response to 03-Mar Opthea Announces Phase 2b Wet AMD Publication, fall is consistent with prevailing short term downtrend and rising peaks and rising troughs 🔎📉
-11.1% Iperionx (IPX) - No news, fall is consistent with prevailing short term downtrend and rising peaks and rising troughs 🔎📉
-6.4% WA1 Resources (WA1) - No news, fall is consistent with prevailing short term downtrend and long term trend is transitioning from up to down, a regular in ChartWatch ASX Scans Downtrends list 🔎📉
-5.6% Treasury Wine Estates (TWE) - No news, ex-div $0.20 70% franked explains some of the move, fall is consistent with prevailing short and long term downtrends, a regular in ChartWatch ASX Scans Downtrends list 🔎📉
-5.4% Audinate Group (AD8) - Ceasing to be a substantial holder (State Street slipping below 5% on this notice but has been active recently, remember: stock lend equates to short sellers!), fall is consistent with prevailing short and long term downtrends, a regular in ChartWatch ASX Scans Downtrends list 🔎📉
-5.0% IDP Education (IEL) - Change in substantial holding (ditto, stock lending = shorts!), fall is consistent with prevailing short and long term downtrends, one of the most Featured (highest conviction) stocks in ChartWatch ASX Scans Downtrends list 🔎📉
-4.9% Netwealth Group (NWL) - No news, fall is consistent with prevailing short and long term downtrends, one of the most Featured (highest conviction) stocks in ChartWatch ASX Scans Downtrends list 🔎📉
-4.7% Kelsian Group (KLS) - No news since 03-Mar Response to ASX Aware Letter, fall is consistent with prevailing short and long term downtrends, one of the most Featured (highest conviction) stocks in ChartWatch ASX Scans Downtrends list 🔎📉
-4.7% Ampol (ALD) - No news, fall is consistent with prevailing short and long term downtrends, one of the most Featured (highest conviction) stocks in ChartWatch ASX Scans Downtrends list 🔎📉
-4.4% Alpha HPA (A4N) - Change of Director's Interest Notice.
-4.4% Coles Group (COL) - No news, ex-div $0.37 fully franked.
-4.3% Accent Group (AX1) - No news, fall is consistent with prevailing short and long term downtrends, a regular in ChartWatch ASX Scans Downtrends list 🔎📉
-4.2% Redox (RDX) - No news, fall is consistent with prevailing short and long term downtrends, a regular in ChartWatch ASX Scans Downtrends list 🔎📉
Broker Moves
ARN Media (A1N)
Retained at accumulate at Ord Minnett; Price Target: $0.580 from $0.640
Aristocrat Leisure (ALL)
Retained at buy at Citi; Price Target: $74.00
Articore Group (ATG)
Retained at hold at Morgans; Price Target: $0.410 from $0.580
Australian Vanadium (AVL)
Retained at buy at Shaw and Partners; Price Target: $0.080 from $0.060
American West Metals (AW1)
Retained at buy at Shaw and Partners; Price Target: $0.200 from $0.320
Antipa Minerals (AZY)
Retained at buy at Canaccord Genuity; Price Target: $0.950 from $0.700
Retained at buy at Shaw and Partners; Price Target: $0.660 from $0.360
Beforepay Group (B4P)
Retained at buy at Shaw and Partners; Price Target: $2.15
Credit Corp Group (CCP)
Retained at neutral at Macquarie; Price Target: $16.27
Charter Hall Group (CHC)
Retained at neutral at Citi; Price Target: $18.50
Coles Group (COL)
Initiated at outperform at RBC Capital Markets; Price Target: $22.00
Charter Hall Retail Reit (CQR)
Retained at buy at Citi; Price Target: $4.00
Corporate Travel Management (CTD)
Retained at overweight at Morgan Stanley; Price Target: $18.30
Core Lithium (CXO)
Initiated at buy at Argonaut Securities; Price Target: $0.000
Domino's Pizza Enterprises (DMP)
Retained at neutral at Citi; Price Target: $31.82
Endeavour Group (EDV)
Retained at neutral at Jarden; Price Target: $4.30 from $5.00
Retained at neutral at JP Morgan; Price Target: $4.80 from $4.70
Fleetpartners Group (FPR)
Upgraded to buy from hold at Canaccord Genuity; Price Target: $3.40
Healthco Healthcare and Wellness Reit (HCW)
Retained at underweight at Morgan Stanley; Price Target: $1.040
Harvey Norman (HVN)
Upgraded to buy from hold at Jefferies; Price Target: $5.85 from $4.75
Retained at overweight at JP Morgan; Price Target: $6.50 from $6.30
Medibank Private (MPL)
Downgraded to hold from buy at Jefferies; Price Target: $4.80 from $4.40
Retained at overweight at JP Morgan; Price Target: $4.75 from $4.65
NRW (NWH)
Upgraded to buy from hold at Argonaut Securities; Price Target: $3.70 from $3.95
Retained at outperform at CLSA; Price Target: $3.60 from $4.15
Downgraded to overweight from buy at Jarden; Price Target: $3.10 from $3.85
Retained at neutral at Macquarie; Price Target: $3.00 from $3.37
Orica (ORI)
Retained at outperform at Macquarie; Price Target: $20.78
Pexa Group (PXA)
Retained at outperform at CLSA; Price Target: $16.80 from $16.50
Retained at neutral at Jarden; Price Target: $15.55 from $15.30
Retained at overweight at JP Morgan; Price Target: $16.00
Retained at outperform at Macquarie; Price Target: $14.72 from $14.64
Resource Development Group (RDG)
Retained at hold at Bell Potter; Price Target: $0.015 from $0.027
RAS Technology (RTH)
Retained at buy at Ord Minnett; Price Target: $1.780 from $1.660
Reliance Worldwide Corporation (RWC)
Upgraded to overweight from neutral at Jarden; Price Target: $5.60
Scentre Group (SCG)
Retained at buy at Citi; Price Target: $3.90
Shine Justice (SHJ)
Retained at buy at Carter Bar Securities; Price Target: $1.120 from $1.390
Retained at buy at Moelis Australia; Price Target: $0.810
Retained at overweight at QValue; Price Target: $1.250 from $1.500
Santana Minerals (SMI)
Retained at buy at Canaccord Genuity; Price Target: $1.330 from $1.300
Supply Network (SNL)
Downgraded to accumulate from buy at Ord Minnett; Price Target: $36.30 from $33.00
Service Stream (SSM)
Retained at buy at Canaccord Genuity; Price Target: $1.950
Retained at outperform at CLSA; Price Target: $2.00
Retained at overweight at Macquarie; Price Target: $1.860
Upgraded to buy from hold at Ord Minnett; Price Target: $1.940 from $1.780
Retained at overweight at RBC Capital Markets; Price Target: $2.00
Strickland Metals (STK)
Retained at buy at Canaccord Genuity; Price Target: $0.180
Southern Cross Media Group (SXL)
Downgraded to accumulate from buy at Ord Minnett; Price Target: $0.700
Turaco Gold (TCG)
Retained at buy at Canaccord Genuity; Price Target: $0.750
TPG Telecom (TPG)
Retained at overweight at Jarden; Price Target: $5.20 from $5.25
Retained at hold at Jefferies; Price Target: $5.00 from $4.80
Woolworths Group (WOW)
Initiated at sector perform at RBC Capital Markets; Price Target: $31.00
Scans
Top Gainers
Code | Company | Last | % Chg |
---|---|---|---|
LMS | Litchfield Minera... | $0.135 | +42.11% |
HE8 | Helios Energy Ltd | $0.017 | +41.67% |
IMI | Infinity Mining Ltd | $0.014 | +27.27% |
PNT | Panther Metals Ltd | $0.019 | +26.67% |
RGT | Argent Biopharma Ltd | $0.18 | +24.14% |
View all top gainers
Top Fallers
Code | Company | Last | % Chg |
---|---|---|---|
TOU | Tlou Energy Ltd | $0.012 | -20.00% |
BEZ | Besra Gold Inc | $0.029 | -19.44% |
SRJ | SRJ Technologies ... | $0.029 | -19.44% |
EV1 | Evolution Energy ... | $0.018 | -18.18% |
OCN | Oceana Lithium Ltd | $0.023 | -17.86% |
View all top fallers
52 Week Highs
Code | Company | Last | % Chg |
---|---|---|---|
BSX | Blackstone Minera... | $0.078 | +11.43% |
APW | Aims Property Sec... | $2.51 | +9.13% |
DYM | Dynamic Metals Ltd | $0.325 | +8.33% |
WAF | West African Reso... | $1.885 | +6.50% |
BC8 | Black Cat Syndica... | $0.885 | +4.73% |
View all 52 week highs
52 Week Lows
Code | Company | Last | % Chg |
---|---|---|---|
TOU | Tlou Energy Ltd | $0.012 | -20.00% |
BEZ | Besra Gold Inc | $0.029 | -19.44% |
CAG | Cape Range Ltd | $0.066 | -17.50% |
1AD | Adalta Ltd | $0.011 | -15.39% |
CML | Connected Mineral... | $0.15 | -14.29% |
View all 52 week lows
Near Highs
Code | Company | Last | % Chg |
---|---|---|---|
BILL | Ishares Core Cash... | $100.72 | 0.00% |
GLDN | Ishares Physical ... | $37.10 | -0.30% |
MTO | Motorcycle Holdin... | $1.99 | -0.25% |
JEPI | Jpmorgan EQ Prem ... | $56.25 | -2.11% |
AGI | Ainsworth Game Te... | $0.925 | +2.78% |
View all near highs
Relative Strength Index (RSI) Oversold
Code | Company | Last | % Chg |
---|---|---|---|
STX | Strike Energy Ltd | $0.18 | -2.70% |
EGH | Eureka Group Hold... | $0.55 | 0.00% |
CCR | Credit Clear Ltd | $0.25 | -5.66% |
XYZ | Block, Inc | $96.72 | -4.10% |
DGL | DGL Group Ltd | $0.46 | 0.00% |
View all RSI oversold
Welcome to my ChartWatch Daily ASX Scans series. Here I present scan lists based on my trend following technical analysis methodology. My goal is to alert you to the best uptrends and downtrends on the ASX.
Uptrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
Australian Agricultural Company | AAC | $1.520 | +10.5% | +11.8% |
Adriatic Metals | ADT | $4.45 | +7.0% | +40.4% |
BetaShares Global Defence ETF | ARMR | $19.54 | +10.2% | 0% |
Brambles | BXB | $21.10 | +7.8% | +40.0% |
Collins Foods | CKF | $8.43 | +14.1% | -23.4% |
Data#3 | DTL | $7.88 | +14.9% | -6.3% |
Evolution Mining | EVN | $6.24 | +10.1% | +111.5% |
EVT | EVT | $14.29 | +23.7% | +23.5% |
Fletcher Building | FBU | $3.05 | +17.8% | -17.6% |
Gorilla Gold Mines | GG8 | $0.365 | +58.7% | +765.0% |
Global X Physical Gold ETF | GOLD | $42.95 | +2.3% | +49.1% |
iShares Global Consumer Staples ETF | IXI | $103.47 | +5.2% | +13.0% |
iShares Global Healthcare ETF | IXJ | $149.65 | +2.3% | +7.0% |
Light & Wonder | LNW | $178.13 | +27.3% | +18.1% |
Megaport | MP1 | $11.28 | +35.1% | -22.0% |
Ordell Minerals | ORD | $0.665 | +95.6% | 0% |
Smartgroup Corporation | SIQ | $8.45 | +8.1% | -21.7% |
US Masters Residential Property Fund | URF | $0.415 | +2.5% | +56.3% |
Vanguard Global Infrastructure Index ETF | VBLD | $74.68 | +3.8% | +19.9% |
Vanguard FTSE Europe Shares ETF | VEQ | $81.46 | +7.2% | +14.6% |
Vanguard All-World Ex-US Shares Index ETF | VEU | $98.39 | +4.1% | +12.2% |
Vaneck MSCI International Value ETF | VLUE | $28.91 | +4.8% | +11.3% |
Today's Uptrends Scan List
Feature Charts from today's Uptrends List 🔎📈
The stocks that I feel are showing the strongest excess demand from today's Uptrends List are: BetaShares Global Defence ETF , Brambles , Data#3 , Gorilla Gold Mines G, Global X Physical Gold ETF , Vanguard All-World Ex-US Shares Index ETF , Vaneck MSCI International Value ETF .
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
29METALS | 29M | $0.160 | -27.3% | -45.4% |
4DMEDICAL | 4DX | $0.380 | -28.3% | -42.9% |
Appen | APX | $1.300 | -49.2% | +124.1% |
ARB Corporation | ARB | $36.91 | -0.6% | -10.9% |
Arena Reit. | ARF | $3.62 | -5.2% | +7.7% |
Avita Medical | AVH | $2.79 | -3.1% | -45.5% |
Accent Group | AX1 | $1.980 | -6.6% | -2.0% |
Boss Energy | BOE | $2.38 | -28.7% | -52.6% |
Credit Corp Group | CCP | $14.81 | -2.2% | -22.8% |
Champion Iron | CIA | $5.23 | -1.7% | -32.3% |
Chorus | CNU | $7.34 | -5.2% | -1.5% |
Coronado Global Resources | CRN | $0.540 | -17.6% | -60.3% |
Cettire | CTT | $1.010 | -14.0% | -78.9% |
Cleanaway Waste Management | CWY | $2.56 | -6.2% | -4.5% |
Elders | ELD | $7.04 | +0.1% | -19.9% |
Flight Centre Travel Group | FLT | $15.80 | -9.1% | -26.2% |
Grange Resources | GRR | $0.200 | -9.1% | -53.5% |
Guzman y Gomez | GYG | $32.90 | -17.5% | 0% |
Healthco Healthcare and Wellness Reit | HCW | $0.890 | -8.7% | -35.7% |
Iluka Resources | ILU | $4.13 | -6.6% | -39.7% |
Incitec Pivot | IPL | $2.74 | -7.4% | +1.5% |
Jumbo Interactive | JIN | $11.06 | -14.8% | -38.9% |
Lendlease Group | LLC | $6.09 | -4.5% | -5.1% |
Macquarie Technology Group | MAQ | $68.00 | -19.7% | -4.5% |
Mineral Resources | MIN | $21.48 | -35.1% | -67.8% |
Neuren Pharmaceuticals | NEU | $12.33 | -9.8% | -40.6% |
National Storage Reit | NSR | $2.14 | -3.6% | -5.3% |
Novonix | NVX | $0.400 | -27.3% | -51.8% |
NRW | NWH | $2.85 | -16.9% | +0.7% |
Nuix | NXL | $3.44 | -19.4% | +62.3% |
Orora | ORA | $2.07 | -6.3% | -22.8% |
Peninsula Energy | PEN | $0.810 | -25.7% | -60.4% |
Propel Funeral Partners | PFP | $5.24 | -9.5% | -9.8% |
Patriot Battery Metals | PMT | $0.265 | -15.9% | -65.4% |
Polynovo | PNV | $1.430 | -26.3% | -37.3% |
Perpetual | PPT | $19.45 | -9.2% | -19.0% |
Platinum Asset Management | PTM | $0.570 | -13.0% | -27.6% |
Redox | RDX | $3.07 | -28.6% | +17.6% |
Reece | REH | $17.18 | -25.1% | -36.1% |
Regal Partners | RPL | $3.16 | -16.2% | +18.8% |
Rpmglobal | RUL | $2.63 | -4.4% | +17.4% |
Steadfast Group | SDF | $5.43 | -4.2% | -6.2% |
Siteminder | SDR | $4.87 | -17.0% | -9.6% |
Silex Systems | SLX | $4.00 | -32.4% | -20.0% |
Santos | STO | $6.35 | -9.9% | -10.3% |
Super Retail Group | SUL | $14.07 | -8.2% | -11.3% |
Seven West Media | SWM | $0.160 | -3.0% | -23.8% |
Sayona Mining | SYA | $0.019 | -17.4% | -51.3% |
Treasury Wine Estates | TWE | $10.56 | +0.5% | -14.5% |
Weebit Nano | WBT | $1.950 | -11.4% | -55.1% |
Today's Downtrends Scan List
Feature Charts from today's Downtrends List 🔎📉
The stocks that I feel are showing the strongest excess supply from today's Downtrends List are: Interesting downtrends in today's Scans: 4DMEDICAL , Champion Iron , Coronado Global Resources , Cettire , Healthco Healthcare and Wellness Reit H, Jumbo Interactive , Lendlease Group , Macquarie Technology Group M, Mineral Resources , Neuren Pharmaceuticals , Novonix , NRW , Propel Funeral Partners , Polynovo , Perpetual , Santos .
Charts of each below:
ChartWatch Primer
For a detailed explanation of Carl's technical analysis methodology, be sure to check out this ChartWatch Primer.
Important considerations when using the ChartWatch Daily ASX Scans:
1. The future is unknown. Anything can happen to change the trends in the lists above. A stock in a perfect uptrend or downtrend may not remain that way by the close of trading today. 2. These lists are not exhaustive, they are curated by Carl. You will find that certain stocks might not appear in a particular list on consecutive days but might reappear when Carl feels it deserves to return to the list. 3. This is not a recommendation service, merely an aid to help you better understand the workings of Carl’s technical analysis model in a practical way. Carl will not alert you to stocks that have dropped off a list because their trend has changed – it is up to you to apply the criteria to determine why a particular stock might not still be included. 4. This is general, educational information only – always do your own research.
The S&P/ASX 200 closed 47.6 points lower, down 0.58%.
The energy sector bore the brunt of the selling today as the global trade war stepped up a notch. The tit for tat continues...
Sector heavyweights Santos (STO) (-4.7%) and Woodside Energy (WDS) (-3.0%) no doubt knocked off the most index points, but it's worth noting that apart from this, the prices of most uranium stocks were pounded.
Click/scroll through for the usual reporting of the major sector and stock-specific moves, the broker responses to them, as well as all the key upcoming economic data in tonight's Evening Wrap.
Also, I have detailed technical analysis on the NASDAQ Composite and the S&P/ASX 200 (XJO) in today's ChartWatch.
Let's dive in!
Today in Review
Tue 04 Mar 25, 5:29pm (AEDT)
Name | Value | % Chg |
---|---|---|
Major Indices | ||
ASX 200 | 8,198.1 | -0.58% |
All Ords | 8,420.9 | -0.68% |
Small Ords | 3,102.3 | -1.74% |
All Tech | 3,744.3 | -0.79% |
Emerging Companies | 2,243.2 | -1.68% |
Currency | ||
AUD/USD | 0.6205 | -0.32% |
US Futures | ||
S&P 500 | 5,874.0 | +0.23% |
Dow Jones | 43,302.0 | +0.13% |
Nasdaq | 20,544.75 | +0.37% |
Name | Value | % Chg |
---|---|---|
Sector | ||
Health Care | 43,209.9 | +0.32% |
Industrials | 8,065.2 | -0.06% |
Communication Services | 1,710.6 | -0.27% |
Real Estate | 3,699.2 | -0.44% |
Financials | 8,651.6 | -0.53% |
Consumer Discretionary | 4,056.0 | -0.54% |
Information Technology | 2,532.4 | -0.63% |
Materials | 16,396.0 | -0.67% |
Consumer Staples | 11,936.1 | -1.03% |
Utilities | 8,915.4 | -2.27% |
Energy | 8,263.8 | -3.17% |
Markets
ASX 200 Session Chart
The S&P/ASX 200 (XJO) finished 47.6 points lower at 8,198.1, nearly smack–bang at the mid-point of the session's range (+0.59% from the low and -0.58% from the high!). In the broader-based S&P/ASX 300 (XKO), advancers lagged decliners by a disappointing 62 to 217.
Another bruising day for Aussie stocks as global risk appetite continues to shrink. Stocks are barometer of growth, and investors simply don’t want to carry the risk that prevailing uncertainties surrounding the management of the US economy and global trade could worsen before they improve.
Earlier today, China responded to the new tariffs imposed by U.S. President Donald Trump by announcing plans to levy its own tariffs of up to 15% on certain U.S. products. The tit-for-tat escalates!
And investors are paying the price: Sell first and don't ask too many questions is the default strategy in times of uncertainty. Then, stick that cash in short term money markets or in the relative safety of longer term risk-free bonds – many of which are yielding multiples of the average dividend yield of some high-flying global indices.
US 10 year T-Bond Yield, shows us how investors have flocked to the relative safety of risk-free bonds (bond yields fall as bond prices rise) (
In keeping with the aforementioned global economic growth concerns, the prices of major commodities including base metals, iron ore, and crude oil were lower overnight. This naturally dragged on Energy (XEJ) (-3.2%) and Utilities (XUJ) (-2.3%), as well as Resources (XJR) (-1.2%).
Brent Crude Oil Futures (Front month, back-adjusted) ICE (click here for full size image)
No doubt, big falls in sector heavyweights Santos (-4.7%) and Woodside Energy (-3.0%) knocked the most index points off Energy, but it's worth noting that apart from this, the prices of most uranium stocks were pounded.
Interestingly, it wasn't due to lower a uranium price, as the front month COMEX contract was unchanged. A nasty overall trend, though, and local listings did track similar sharp falls in their overseas counterparts overnight.
The uranium price trend appears set to the downside... (click here for full size image)
Only defensive areas of the market, such as Gold (XGD) (+0.33%) and Health Care (XHJ) (+0.32%), escaped the selling. But overall, it's noting today's falls could have been far worse given the benchmark ASX 200 closed off a decent way off its lows – check ChartWatch below for technical analysis.
ChartWatch
NASDAQ Composite Index
Touch and go due to lack of touch and go... (click here for full size image)
Two candles since our last update on Friday. First, Friday’s inspirational-and-against-the-trend demand-side candle – white bodied, high close, from deep within the long term uptrend ribbon.
= Hope! 🤞
Then, last night’s Monday candle: Black, engulfing, close near the lows and deep into the long term uptrend ribbon.
= Quite an emphatic supply side showing! 🤦
All is not lost, though, the long term uptrend ribbon remains intact – just – but clearly there is enough fear and panic around to keep supply flowing and demand on the sidelines.
We can see what’s happening in the price action and the candles, it’s clear – Monday’s candle would be no surprise to regular readers of this section.
The big question is what one does about it? I can’t speak for you, but for me it means paring back risk. In other words, being prudent and vigilant on individual positions within my portfolio – aggressively pruning those charts that are no longer showing clear demand-side price action.
This will naturally bring back overall capital allocation.
Then, I must refrain from adding new risk over say, a 50% max allocation, until more room is made under such a cap.
I may also look to add some strategic short exposure to hedge the remaining long-side risk.
If you’re wondering which stocks might be suitable for shorts, good news – I publish a list of my favourite downtrends every day the market is open. Handy that.
Long term users of those lists have probably observed that more often than not, if a stock ends up in my downtrends lists it’s usually going to struggle.
Each investor must choose their own course of action, and I’m merely giving you an insight into how I prefer to manage portfolio risk when the benchmark index’s uptrend begins to wobble. My point is, I have a plan. Do you?
Looking back up to the above chart, we must see demand-side candles (i.e., white bodies and or downward pointing shadows) immediately. We shouldn’t see a continued sharp sell-off, nor even a gradual decline via supply-side candles – both would imply the demand-side is bust.
If the price should close below the long term up trend ribbon, and that trend ribbon should transition to amber and begin to act as a zone of dynamic supply – it will confirm the transition from bull to bear. This could take at least days, but even up to a few weeks. Keep your eyes peeled! 👁️👁️
On the other hand, should we get the demand-side candles we’re hoping for, then there’s likely going to be a wall of supply all the way up. I propose it won’t be until we can at least close above that 19141-19415 area / the short term downtrend ribbon that we can say we’re out of the woods.
S&P/ASX 200 (XJO)
Lingering demand, but not enough (click here for full size image)
It's fair enough if you feel like you're in the washing machine a little with your portfolio at the moment. Uncertainty is up, as is volatility, and share prices are paring back to compensate.
The price action and candles will tell us when the demand-side has returned with confidence, and similarly, that the supply-side has withdrawn to the sidelines.
Today's candle, with its modest downward pointing shadow demonstrates there remains lingering demand in the system. It continues to work its way into the market on dips for the most part (Thursday's candle suggests otherwise). This is reassuring.
Similar to the Comp chart above, the turnaround ideally starts from tomorrow's candle. It really can't wait too much longer before confidence/belief in the prevailing bull market is irreparably damaged.
With the price threatening to close below static points of demand at 8146 and 8160 and then the dynamic demand of the long term trend ribbon – there's little leeway until important long term trend delineators are crossed.
If we do see some follow through excess demand into tomorrow's candle, then supply is likely to be heavy around the short term trend ribbon and at static points of supply at 8353-8366.
I require at least a close above these two areas to feel confident the long term uptrend has held, and that we can rebuild the price action (rising peaks and rising troughs required) to once again test even higher points of supply.
Economy
Today
11:30 AUS Retail Sales January
+0.3% actual vs +0.3% forecast and -0.1% in December
Later this week
Wednesday
11:30 AUS Gross Domestic Product (GDP) December quarter (+0.5% q/q forecast vs +0.3% q/q in September)
12:45 CHN Caixin Services PMI February (50.8 forecast vs 51.0 in January)
Thursday
02:00 USA ISM Services PMI February (53.0 forecast vs 52.8 in January)
11:30 AUS Building Approvals January (-0.1% forecast vs +0.7% in December)
Friday
00:15 EUR European Central Bank (ECB) Main Refinancing Rate & Statement (2.65% forecast vs 2.9% present)
00:45 EUR ECB Press Conference
Saturday
00:30 USA Non-Farm Payroll Data February
Employment Change: +156,000 forecast vs +143,000 in January
Average Hourly Earnings: +0.3% m/m forecast vs +0.5% m/m in January
Unemployment Rate: 4.0% forecast vs 4.0% in January
Latest News
Technical Analysis 4dx armr
ChartWatch ASX Scans: Telstra, Qantas, Megaport, EML Payments, Austal, Nuix, BetaShares Global Defence ETF
Tue 04 Mar 25, 9:30am (AEDT)
Market Wraps
Morning Wrap: ASX set to slide after Trump confirms tariffs for Mexico, Cananda
Tue 04 Mar 25, 9:02am (AEDT)
Market Wraps
Evening Wrap: ASX 200 kicks off March with 73 point gain
Mon 03 Mar 25, 5:32pm (AEDT)
Technical Analysis adh asb
ChartWatch ASX Scans: Fortescue, Pilbara Minerals, Qantas, Wisetech Global, Vulcan Energy, IDP Education
Mon 03 Mar 25, 9:00am (AEDT)
Market Wraps
Morning Wrap: ASX 200 set for positive start to new trading month after US markets rally
Mon 03 Mar 25, 8:57am (AEDT)
Market Wraps alx ape
Evening Wrap: Trumped! ASX 200 tumbles on spiraling fears over global economic growth
Fri 28 Feb 25, 6:11pm (AEDT)
More News
Interesting Movers
Trading higher
+19.0% Ecograf (EGR) – Epanko 'Life of Mine' Special Mining Licence Granted.
+6.3% Spartan Resources (SPR) – No news, general strength across the broader Gold sector today.
+4.8% Global X Ultra Short Nasdaq-100 Hedge Fund ETF (SNAS) – Nasdaq stock prices down… Nasdaq short ETFs up!
+3.7% Praemium (PPS) – Change in substantial holding (increase from Spheria Asset Management).
+3.4% BetaShares US EQY Strong Bear ETF (BBUS) – Ditto, short ETF will prosper when underlying asset price declines…
+2.9% Lynas Rare Earths (LYC) – No news since 27-Feb Lynas Rare Earths FY25 Half Year Presentation.
+2.7% Fleetpartners Group (FPR) – Becoming a substantial holder from PPT, Change in substantial holding (increase Australian Retirement Trust), and Becoming a substantial holder (Milford Asset Management).
Trading lower
-13.3% BetaShares Crypto Innovators ETF (CRYP) - Big falls in major cryptos overnight.
-10.2% Mineral Resources (MIN) - No news, fall is consistent with prevailing short and long term downtrends, one of the most Featured (highest conviction) stocks in ChartWatch ASX Scans Downtrends list 🔎📉
-9.9% Opthea (OPT) - No news since yesterday's Opthea Announces Phase 2b Wet AMD Publication.
-9.8% Boss Energy (BOE) - No news, general weakness across the broader Uranium sector today, fall is consistent with prevailing short and long term downtrends, a regular in ChartWatch ASX Scans Downtrends list 🔎📉
-8.5% Weebit Nano (WBT) - No news, fall is consistent with prevailing short and long term downtrends, a regular in ChartWatch ASX Scans Downtrends list 🔎📉
-8.4% Mesoblast (MSB) - No news, fall is consistent with prevailing short term downtrend and rising peaks and rising troughs 🔎📉
-7.9% Develop Global (DVP) - No news, general weakness across the broader Resources sector today.
-7.8% Healthco Healthcare and Wellness Reit (HCW) - Healthscope Update, fall is consistent with prevailing short and long term downtrends, a regular in ChartWatch ASX Scans Downtrends list 🔎📉
-7.3% Chalice Mining (CHN) - No news, general weakness across the broader Resources sector today.
-7.1% HMC Capital (HMC) - No news 🤔.
-7.1% Zip Co. (ZIP) - Ceasing to be a substantial holder from MQG.
-7.0% Nexgen Energy (NXG) - Annual Financial Statements, general weakness across the broader Uranium sector today, fall is consistent with prevailing short and long term downtrends, a regular in ChartWatch ASX Scans Downtrends list 🔎📉
-6.9% Peninsula Energy (PEN) - No news, general weakness across the broader Uranium sector today, fall is consistent with prevailing short and long term downtrends, a regular in ChartWatch ASX Scans Downtrends list 🔎📉
-6.7% Neuren Pharmaceuticals (NEU) - No news, fall is consistent with prevailing short and long term downtrends, a regular in ChartWatch ASX Scans Downtrends list 🔎📉
-6.6% BetaShares Global Uranium ETF (URNM) - No news, general weakness across the broader Uranium sector today.
-6.5% Cettire (CTT) - No news, fall is consistent with prevailing short and long term downtrends, a regular in ChartWatch ASX Scans Downtrends list 🔎📉
-5.9% Bannerman Energy (BMN) - No news, general weakness across the broader Uranium sector today, fall is consistent with prevailing short and long term downtrends, a regular in ChartWatch ASX Scans Downtrends list 🔎📉
-5.9% Novonix (NVX) - No news, fall is consistent with prevailing short and long term downtrends, one of the most Featured (highest conviction) stocks in ChartWatch ASX Scans Downtrends list 🔎📉
Broker Moves
Life360 (360)
Retained at hold at Bell Potter; Price Target: $28.00 from $27.75
Retained at buy at Goldman Sachs; Price Target: $27.00 from $25.00
Retained at overweight at Morgan Stanley; Price Target: $28.60 from $25.00
Retained at buy at Ord Minnett; Price Target: $24.88 from $23.14
Amplitude Energy (AEL)
Retained at add at Morgans; Price Target: $0.280 from $0.310
Australian Finance Group (AFG)
Retained at buy at Citi; Price Target: $1.850
Upgraded to outperform from neutral at Macquarie; Price Target: $1.680 from $1.640
Aeris Resources (AIS)
Retained at buy at Bell Potter; Price Target: $0.300 from $0.290
Alkane Resources (ALK)
Retained at buy at Bell Potter; Price Target: $1.250
Austin Engineering (ANG)
Retained at buy at Bell Potter; Price Target: $0.850 from $0.860
Retained at buy at Shaw and Partners; Price Target: $0.700
Eagers Automotive (APE)
Retained at neutral at UBS; Price Target: $14.80 from $10.60
Airtasker (ART)
Retained at add at Morgans; Price Target: $0.560
Bluebet (BBT)
Retained at add at Morgans; Price Target: $0.470
Burgundy Diamond Mines (BDM)
Retained at buy at Bell Potter; Price Target: $0.100
Bellevue Gold (BGL)
Retained at buy at Bell Potter; Price Target: $2.00
Retained at buy at Canaccord Genuity; Price Target: $2.20 from $2.25
Retained at buy at Goldman Sachs; Price Target: $1.500
Retained at outperform at Macquarie; Price Target: $1.700
Upgraded to hold from lighten at Ord Minnett; Price Target: $1.200 from $1.150
Retained at at UBS; Price Target: $1.900
Bubs Australia (BUB)
Retained at hold at Bell Potter; Price Target: $0.155 from $0.150
Retained at buy at Ord Minnett; Price Target: $0.200
Brambles (BXB)
Retained at buy at UBS; Price Target: $22.80
Camplify (CHL)
Retained at add at Morgans; Price Target: $1.050 from $2.10
Chalice Mining (CHN)
Retained at buy at Bell Potter; Price Target: $5.75
Capricorn Metals (CMM)
Retained at hold at Bell Potter; Price Target: $7.84
Clinuvel Pharmaceuticals (CUV)
Retained at buy at Morgans; Price Target: $15.00 from $17.00
Curvebeam AI (CVB)
Retained at buy at Bell Potter; Price Target: $0.180 from $0.260
Catalyst Metals (CYL)
Retained at hold at Bell Potter; Price Target: $4.45
De Grey Mining (DEG)
Retained at hold at Bell Potter; Price Target: $1.970
DGL Group (DGL)
Retained at hold at Bell Potter; Price Target: $0.480 from $0.530
DigiCo REIT (DGT)
Initiated at positive at E&P; Price Target: $5.13
Deterra Royalties (DRR)
Retained at buy at UBS; Price Target: $4.20 from $4.90
DUG Technology (DUG)
Retained at buy at Shaw and Partners; Price Target: $3.00 from $3.60
Develop Global (DVP)
Retained at buy at Bell Potter; Price Target: $4.00
Endeavour Group (EDV)
Retained at neutral at Citi; Price Target: $4.50 from $4.87
Retained at neutral at Macquarie; Price Target: $4.10
Retained at overweight at Morgan Stanley; Price Target: $5.90
Retained at hold at Morgans; Price Target: $4.35 from $4.54
Earlypay (EPY)
Retained at add at Morgans; Price Target: $0.300 from $0.290
Evolution Mining (EVN)
Retained at buy at Bell Potter; Price Target: $7.00
Retained at hold at Morgans; Price Target: $5.90
Experience Co (EXP)
Retained at add at Morgans; Price Target: $0.200 from $0.180
Frontier Digital Ventures (FDV)
Retained at buy at Bell Potter; Price Target: $0.520
Generation Development Group (GDG)
Retained at overweight at Morgan Stanley; Price Target: $6.30 from $4.90
Retained at buy at Ord Minnett; Price Target: $5.80 from $4.94
Genesis Minerals (GMD)
Retained at hold at Bell Potter; Price Target: $3.35
Gold Road Resources (GOR)
Retained at buy at Bell Potter; Price Target: $2.95
GPT Group (GPT)
Retained at buy at Citi; Price Target: $5.00
Highcom (HCL)
Retained at buy at Bell Potter; Price Target: $0.350
Harvey Norman (HVN)
Retained at buy at Bell Potter; Price Target: $6.00 from $5.80
Retained at buy at Citi; Price Target: $5.80 from 5..20
Retained at sell at Goldman Sachs; Price Target: $4.30 from $4.10
Retained at outperform at Macquarie; Price Target: $5.50 from $5.20
Retained at underweight at Morgan Stanley; Price Target: $4.00
Downgraded to lighten from hold at Ord Minnett; Price Target: $4.50 from $4.40
Retained at neutral at UBS; Price Target: $2.25 from $5.00
IDP Education (IEL)
Retained at add at Morgans; Price Target: $13.00 from $18.20
Imexhs (IME)
Retained at buy at Morgans; Price Target: $0.750 from $1.150
Ioneer (INR)
Retained at buy at Canaccord Genuity; Price Target: $0.270 from $0.400
IPH (IPH)
Retained at outperform at Macquarie; Price Target: $6.75
Iress (IRE)
Retained at buy at Ord Minnett; Price Target: $10.70 from $12.00
Jupiter Mines (JMS)
Retained at outperform at Macquarie; Price Target: $0.220
Kingsgate Consolidated (KCN)
Retained at buy at Canaccord Genuity; Price Target: $3.35
Kina Securities (KSL)
Retained at add at Morgans; Price Target: $1.440 from $1.450
Light & Wonder (LNW)
Retained at add at Morgans; Price Target: $220.00 from $175.00
Lynas Rare Earths (LYC)
Retained at buy at UBS; Price Target: $7.95
Moneyme (MME)
Retained at buy at Morgans; Price Target: $0.210
Metro Mining (MMI)
Retained at buy at Shaw and Partners; Price Target: $0.170
McMillan Shakespeare (MMS)
Retained at hold at Bell Potter; Price Target: $16.30 from $15.80
Medibank Private (MPL)
Retained at hold at Morgans; Price Target: $4.52 from $4.11
Retained at buy at Ord Minnett; Price Target: $4.80 from $4.25
Retained at buy at UBS; Price Target: $4.90 from $4.30
Newmont Corporation (NEM)
Retained at buy at Canaccord Genuity; Price Target: US$56.00 from US$57.00
Initiated at add at Morgans; Price Target: $84.00
Nobleoak Life (NOL)
Retained at buy at Shaw and Partners; Price Target: $2.85
Northern Star Resources (NST)
Retained at hold at Bell Potter; Price Target: $20.00
NRW (NWH)
Retained at buy at Citi; Price Target: $3.85 from $4.05
Retained at add at Morgans; Price Target: $3.40 from $3.85
Retained at buy at UBS; Price Target: $3.55 from $4.10
Objective Corporation (OCL)
Retained at hold at Morgans; Price Target: $16.75 from $17.80
Orora (ORA)
Retained at neutral at Goldman Sachs; Price Target: $2.40
Pro Medicus (PME)
Retained at positive at RBC Capital Markets; Price Target: $295.00
Pioneer Credit (PNC)
Retained at buy at Shaw and Partners; Price Target: $0.800
Pantoro (PNR)
Retained at hold at Bell Potter; Price Target: $0.115
Pexa Group (PXA)
Retained at buy at Goldman Sachs; Price Target: $14.50 from $15.70
Retained at overweight at Morgan Stanley; Price Target: $15.00
Retained at add at Morgans; Price Target: $13.90 from $14.62
Retained at buy at Ord Minnett; Price Target: $17.40
Retained at buy at UBS; Price Target: $15.75 from $15.50
Qube (QUB)
Retained at buy at Goldman Sachs; Price Target: $4.65 from $4.20
Readytech (RDY)
Retained at add at Morgans; Price Target: $3.45 from $3.74
Resmed Inc (RMD)
Retained at buy at Goldman Sachs; Price Target: $49.00
Regal Partners (RPL)
Retained at add at Morgans; Price Target: $4.50 from $4.40
Regis Resources (RRL)
Retained at buy at Bell Potter; Price Target: $3.75
Resolute Mining (RSG)
Retained at buy at Canaccord Genuity; Price Target: $0.700
Retained at outperform at Macquarie; Price Target: $0.450 from $0.470
Siteminder (SDR)
Retained at buy at Citi; Price Target: $7.20 from $7.65
Retained at buy at UBS; Price Target: $6.50 from $6.20
Santana Minerals (SMI)
Retained at buy at Bell Potter; Price Target: $1.070
Supply Network (SNL)
Retained at buy at Goldman Sachs; Price Target: $34.20
Service Stream (SSM)
Retained at buy at Citi; Price Target: $2.00
Strike Energy (STX)
Upgraded to buy from hold at Bell Potter; Price Target: $0.260 from $0.270
Retained at neutral at Macquarie; Price Target: $0.220 from $0.240
Southern Cross Gold (SX2)
Retained at buy at Bell Potter; Price Target: $4.00
TPG Telecom (TPG)
Retained at sell at Goldman Sachs; Price Target: $4.20
Retained at underweight at Morgan Stanley; Price Target: $4.40
Retained at hold at Morgans; Price Target: $4.70 from $4.80
Retained at neutral at UBS; Price Target: $4.80 from $4.95
Titomic (TTT)
Retained at buy at Shaw and Partners; Price Target: $0.300
Tyro Payments (TYR)
Retained at buy at Shaw and Partners; Price Target: $1.600
Vista Group International (VGL)
Retained at buy at Shaw and Partners; Price Target: $4.10 from $3.00
Vysarn (VYS)
Retained at buy at Morgans; Price Target: $0.580 from $0.550
Scans
Top Gainers
Code | Company | Last | % Chg |
---|---|---|---|
ERG | Eneco Refresh Ltd | $0.015 | +50.00% |
NGS | Nutritional Growt... | $0.034 | +41.67% |
MPR | Mpower Group Ltd | $0.011 | +37.50% |
MM1 | Midas Minerals Ltd | $0.13 | +30.00% |
IND | Industrial Minera... | $0.16 | +28.00% |
View all top gainers
Top Fallers
Code | Company | Last | % Chg |
---|---|---|---|
RFA | Rare Foods Austra... | $0.016 | -33.33% |
ACW | Actinogen Medical... | $0.032 | -20.00% |
BMH | Baumart Holdings Ltd | $0.04 | -20.00% |
CRI | Critica Ltd | $0.015 | -18.92% |
LOM | Lucapa Diamond Co... | $0.014 | -17.65% |
View all top fallers
52 Week Highs
Code | Company | Last | % Chg |
---|---|---|---|
YOJ | Yojee Ltd | $0.16 | +14.29% |
APW | Aims Property Sec... | $2.30 | +11.11% |
BSX | Blackstone Minera... | $0.07 | +9.38% |
GG8 | Gorilla Gold Mine... | $0.365 | +8.96% |
ZMI | ZINC of Ireland NL | $0.017 | +6.25% |
View all 52 week highs
52 Week Lows
Code | Company | Last | % Chg |
---|---|---|---|
BMH | Baumart Holdings Ltd | $0.04 | -20.00% |
LOM | Lucapa Diamond Co... | $0.014 | -17.65% |
QETH | Betashares Ethere... | $23.59 | -14.50% |
SWP | Swoop Holdings Ltd | $0.14 | -12.50% |
XGL | Xamble Group Ltd | $0.015 | -11.77% |
View all 52 week lows
Near Highs
Code | Company | Last | % Chg |
---|---|---|---|
GCI | Gryphon Capital I... | $2.04 | 0.00% |
IHD | Ishares S&P/ASX D... | $14.36 | -0.21% |
BILL | Ishares Core Cash... | $100.72 | 0.00% |
HVN | Harvey Norman Hol... | $5.32 | -2.21% |
GLDN | Ishares Physical ... | $37.21 | +1.17% |
View all near highs
Relative Strength Index (RSI) Oversold
Code | Company | Last | % Chg |
---|---|---|---|
EGH | Eureka Group Hold... | $0.55 | -5.17% |
XYZ | Block, Inc | $100.85 | -4.98% |
DGL | DGL Group Ltd | $0.46 | -1.08% |
RAC | Race Oncology Ltd | $1.06 | +2.42% |
NVX | Novonix Ltd | $0.40 | -5.88% |
View all RSI oversold
Opthea announced the publication of data from a phase 2b trial of its sozinibercept drug candidate for wet age-related macular degeneration in the peer-reviewed journal Ophthalmic Surgery, Lasers and Imaging Retina, according to a Monday Australian bourse filing.
The paper reports pre-specified and post-hoc analyses of angiographic predictors of response to sozinibercept combination therapy with ranibizumab in treatment-naïve patients.
The randomized, controlled trial saw sozinibercept combination therapy leading to superior visual gains compared to therapy with only ranibizumab at 24 weeks.
Analysis of the data showed that in patients with occult and minimally classic lesions, representing 73% of the Phase 2b total patient population, sozinibercept combination therapy demonstrated a "statistically significant" gain in best corrected visual acuity compared to ranibizumab alone.
Opthea's shares rose almost 3% in recent trading on Monday.
Welcome to my ChartWatch Daily ASX Scans series. Here I present scan lists based on my trend following technical analysis methodology. My goal is to alert you to the best uptrends and downtrends on the ASX.
Uptrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
Austal | ASB | $4.25 | +14.2% | +114.6% |
Dusk Group | DSK | $1.320 | +17.9% | +57.1% |
Dynamic Metals | DYM | $0.310 | +12.7% | +55.0% |
EML Payments | EML | $0.970 | +17.6% | +15.5% |
EVT | EVT | $14.60 | +24.8% | +25.1% |
Fletcher Building | FBU | $3.04 | +16.5% | -14.5% |
Generation Development Group | GDG | $5.18 | +21.5% | +191.6% |
GR Engineering Services | GNG | $3.07 | +7.0% | +33.5% |
Helia Group | HLI | $6.11 | +27.3% | +40.4% |
IVE Group | IGL | $2.40 | +10.1% | +12.2% |
Qantas Airways | QAN | $9.52 | +1.4% | +84.1% |
Service Stream | SSM | $1.765 | +13.9% | +68.9% |
Telstra Group | TLS | $4.14 | +3.8% | +7.8% |
Today's Uptrends Scan List
Feature Charts from today's Uptrends List 🔎📈
The stocks that I feel are showing the strongest excess demand from today's Uptrends List are: Austal , Dusk Group D, Dynamic Metals D, EVT , Generation Development Group G, GR Engineering Services G, Helia Group H, IVE Group I, Qantas Airways , Service Stream S.
Charts of each below:
Downtrends Scan List
Company | Code | Last Price | 1mo % | 1yr % |
4DMEDICAL | 4DX | $0.385 | -28.7% | -40.8% |
Alpha HPA | A4N | $0.850 | -2.3% | -2.3% |
Alcoa Corporation | AAI | $53.06 | -6.7% | 0% |
Australian Clinical Labs | ACL | $3.10 | -15.3% | +18.8% |
Adairs | ADH | $2.31 | -14.1% | +3.1% |
Arena Reit. | ARF | $3.67 | -5.7% | +10.9% |
Bannerman Energy | BMN | $2.31 | -20.6% | -24.0% |
Boss Energy | BOE | $2.48 | -21.0% | -47.2% |
Credit Corp Group | CCP | $15.18 | -4.8% | -18.3% |
Centuria Capital Group | CNI | $1.635 | -8.4% | +7.6% |
Cochlear | COH | $258.86 | -18.9% | -24.4% |
Capstone Copper Corp. | CSC | $9.09 | -3.3% | 0% |
Cleanaway Waste Management | CWY | $2.55 | -7.9% | -4.9% |
Calix | CXL | $0.430 | -30.1% | -78.8% |
Cyclopharm | CYC | $1.425 | -35.8% | -18.6% |
Endeavour Group | EDV | $4.17 | -1.4% | -21.9% |
Elders | ELD | $7.07 | -1.0% | -20.6% |
Fortescue | FMG | $16.51 | -13.7% | -40.0% |
Fisher & Paykel Healthcare Corporation | FPH | $30.39 | -12.4% | +30.3% |
Goodman Group | GMG | $31.31 | -12.1% | +8.2% |
Healius | HLS | $1.285 | -10.5% | +1.6% |
IDP Education | IEL | $10.05 | -23.7% | -45.0% |
IGO | IGO | $3.98 | -21.3% | -47.6% |
Iluka Resources | ILU | $4.15 | -7.4% | -37.5% |
Jumbo Interactive | JIN | $11.39 | -12.5% | -34.8% |
Johns Lyng Group | JLG | $2.55 | -32.7% | -59.2% |
Lindsay Australia | LAU | $0.620 | -29.5% | -41.5% |
Lifestyle Communities | LIC | $8.00 | -17.1% | -45.8% |
Macquarie Technology Group | MAQ | $69.02 | -15.6% | -1.8% |
Meteoric Resources | MEI | $0.065 | -17.7% | -62.9% |
Magellan Financial Group | MFG | $8.07 | -29.1% | -0.9% |
Mineral Resources | MIN | $22.71 | -36.8% | -64.9% |
Myer | MYR | $0.755 | -17.5% | +0.0% |
New Hope Corporation | NHC | $4.02 | -15.9% | -12.0% |
Nickel Industries | NIC | $0.720 | -7.7% | +2.1% |
National Storage Reit | NSR | $2.16 | -3.1% | -3.6% |
Novonix | NVX | $0.420 | -24.3% | -50.0% |
Nuix | NXL | $3.68 | -14.0% | +89.7% |
Nextdc | NXT | $13.34 | -9.2% | -11.1% |
Peninsula Energy | PEN | $0.870 | -33.8% | -59.4% |
Pilbara Minerals | PLS | $1.900 | -18.5% | -51.0% |
Patriot Battery Metals | PMT | $0.265 | -17.2% | -67.7% |
Region Group | RGN | $2.05 | -5.1% | -7.2% |
Ramsay Health Care | RHC | $34.40 | +1.4% | -32.5% |
Rio Tinto | RIO | $113.37 | -3.1% | -7.9% |
Regal Partners | RPL | $3.22 | -17.4% | +19.7% |
Siteminder | SDR | $4.96 | -17.5% | -5.0% |
The Star Entertainment Group | SGR | $0.110 | -8.3% | -78.6% |
Stanmore Resources | SMR | $2.30 | -12.2% | -30.7% |
Strike Energy | STX | $0.185 | -22.9% | -14.0% |
Sayona Mining | SYA | $0.019 | -17.4% | -54.8% |
Syrah Resources | SYR | $0.215 | -2.3% | -61.5% |
The Lottery Corporation | TLC | $4.75 | -5.0% | -6.0% |
Viva Energy Group | VEA | $1.725 | -33.9% | -50.6% |
Vulcan Energy Resources | VUL | $3.71 | -20.4% | +75.0% |
WA1 Resources | WA1 | $12.95 | -0.4% | +7.9% |
Wisetech Global | WTC | $89.50 | -25.2% | +1.8% |
Today's Downtrends Scan List
Feature Charts from today's Downtrends List 🔎📉
The stocks that I feel are showing the strongest excess supply from today's Downtrends List are: 4DMEDICAL , Adairs A, Bannerman Energy , Boss Energy , Cochlear , Cleanaway Waste Management , Calix , Fortescue , Fisher & Paykel Healthcare Corporation , IDP Education , IGO , Iluka Resources , Johns Lyng Group , Macquarie Technology Group M, Magellan Financial Group , New Hope Corporation , Nickel Industries , Novonix , Nextdc , Pilbara Minerals , Patriot Battery Metals , Siteminder , Stanmore Resources , Sayona Mining , Vulcan Energy Resources , Wisetech Global .
Charts of each below:
ChartWatch Primer
For a detailed explanation of Carl's technical analysis methodology, be sure to check out this ChartWatch Primer.
Important considerations when using the ChartWatch Daily ASX Scans:
1. The future is unknown. Anything can happen to change the trends in the lists above. A stock in a perfect uptrend or downtrend may not remain that way by the close of trading today. 2. These lists are not exhaustive, they are curated by Carl. You will find that certain stocks might not appear in a particular list on consecutive days but might reappear when Carl feels it deserves to return to the list. 3. This is not a recommendation service, merely an aid to help you better understand the workings of Carl’s technical analysis model in a practical way. Carl will not alert you to stocks that have dropped off a list because their trend has changed – it is up to you to apply the criteria to determine why a particular stock might not still be included. 4. This is general, educational information only – always do your own research.
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