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ASX Technical Scan: CSL Leads Uptrends, Xero and Wisetech Slide

By Markets Desk · 2026-09-17 · 2 min read
A wooden trading desk featuring a mechanical abacus and a stack of paper ledgers.
Illustration: Tradingbird

Carl Capolingua's daily technical analysis identifies CSL as a key uptrend candidate while flagging Xero and Wisetech for significant monthly declines.

CSL (CSL) shows the strongest excess demand among large-cap stocks in the latest technical scan. The stock rose 6.7% over the past month, reaching a last price of $177.56. This performance stands out despite a 12.1% decline over the trailing twelve months. The company’s market capitalization remains at $85.2 billion. This data comes from the GN auto markets/indices report on market indices.

The scan identifies 14 stocks in strong uptrends and 12 in downtrends. Aurelia Metals (AMI) leads small-cap gains with a 21.1% monthly rise. Mastermyne (MYE) gained 48.1% in the same period. On the downside, Xero (XRO) and Wisetech Global (WTC) feature prominently in the decline list. These movements reflect current technical momentum rather than fundamental changes.

Small Cap Movers Lead Monthly Gains

Janus Electric (JNS) recorded the highest monthly gain at 73.0%. Infragreen (IFN) followed with a 47.0% rise. St Barbara (SBM) added 45.9% to its share price. These gains are significant relative to their market capitalizations. Janus Electric has a market cap of $105.0 million. Infragreen stands at $97.6 million. St Barbara is valued at $1.1 billion.

Metals X (MLX) rose 9.2% in the month, reaching $2.01. The stock has gained 206.9% over the past year. Dyno Nobel (DNL) increased by 10.3% to $4.16. GR Engineering Services (GNG) climbed 14.0% to $7.18. These companies show consistent upward technical patterns. The analysis highlights these stocks as having strong excess demand.

Major Stocks Show Technical Weakness

Baby Bunting (BBN) fell 14.3% over the last month. The stock is down 64.3% from its year-ago level. Autosports (ASG) declined 16.5% in the monthly period. Amotiv (AOV) dropped 13.4% to $5.89. These declines indicate sustained selling pressure. The technical model flags these names for caution.

Life360 (360) lost 8.7% in the month, hitting $19.12. The stock has fallen 62.7% over the past year. Alcoa (AAI) decreased 7.6% to $65.50. Accent Group (AX1) slipped 5.7% to $0.660. These large and mid-cap stocks show negative momentum. Investors are advised to monitor these trends for potential reversals.

Methodology Focuses On Trend Following

The analysis uses a trend following technical methodology. It does not rely on fundamental valuation metrics. Stocks appear on the lists as long as they meet specific technical criteria. There are no notifications when a stock exits a list. Traders must perform their own research to identify trend changes. The lists serve as a starting point for further analysis.

Based on reporting by Market Index, compiled by the Tradingbird desk.

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