7 ASX growth stocks ticking all the boxes right now

In early September last year, just after reporting season had concluded, Carl Capolingua and I published the first edition of this wire (you can view it via the link below). 

Equities

7 ASX growth stocks ticking all the boxes right now

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It proved very popular, so we're bringing it back to highlight another handful of stocks that make the cut, along with a couple that remain on the list from last time. 

We've previously shared our framework for screening growth stocks, which combines some rudimentary fundamental factors that I used when I was a portfolio manager, and Carl's technical analysis. 

As always, we throw into the mix some comments from fund managers on the Livewire platform. 

As always, do your own research before making any investment decision. The analysis below is for educational purposes only and should not be considered recommendations. Past performance is not a reliable indicator of future return. 

Factor screening

Whilst far from exhaustive, below are a handful of factors that can be important in screening for growth stocks:

• Sales growth (1-yr forward) > 10% – The cornerstone of any growth company. Strong revenue growth is essential, showing the business can expand meaningfully from one period to the next.
• EPS growth (1-yr forward) > 10% – Earnings should rise in step with sales. Strong EPS growth confirms that revenue gains are translating into shareholder value.
• EBITDA margin (1-yr forward) > 10% – Growth companies must demonstrate operating leverage. Expanding margins indicate that scale is improving profitability, not just top-line growth.
• ROE (1-yr forward) > 10% – A quality filter. High ROE shows that management is deploying shareholder capital efficiently to generate profits.
• Cash flow return on invested capital (CFROIC) > 5% – Cash generation matters. A company must convert invested capital into real cash returns, not just accounting earnings.

Using the HALO investment analysis tool, we identified 28 ASX 200 stocks that currently meet the criteria above. The data used was current as of 14 January 2026. Of the 28 stocks that passed the filter, not all had charts with the technical features Carl screens for, which is why the list was further whittled down. 

So, which stocks made the cut? Let’s find out.

#1 – ALS Limited (ASX: ALQ)

ALS delivered a solid earnings upgrade through FY25, with margin expansion driven by pricing discipline and cost control rather than volume growth alone. Brokers remain constructive on the outlook, pointing to resilience across life sciences and environmental testing even as resources activity cools.

Key catalysts include further margin improvement in higher-value services and any acceleration in M&A, with the market watching whether earnings momentum can be sustained as growth normalises.

Fundie view

In early November last year, Livewire's Anna Dadic spoke with Jordan Woods of Paradice Investment Management, who noted ALQ as one of the firm's top picks. At the time, he said; 

"The life sciences division provides steady, high-single-digit revenue growth, while the commodities business benefits from exploration cycles. As money gets raised and put into the ground, those samples end up at ALS labs for testing. The operating leverage in that business can be quite extreme,” he says. 

“We believe we’re about to see a really strong earnings upgrade cycle for ALS.”

Technical Analysis

ChartWatch ASX Scans: 31 Uptrends Scan List appearances since this phase of the long term uptrend began in April 2025 from a starting price of $16.36 (including 9x “Feature” charts, i.e., highest conviction). Most recent appearance: 15-Jan candle.

Trends

• Short-term (ST) uptrend (light green ribbon): the price is above the ST uptrend ribbon, the ST uptrend ribbon is rising, well established, expanding (i.e., gaining upside momentum), and it is acting as a zone of dynamic demand (i.e., there is a tendency for the price to bounce up off the ST uptrend ribbon) ✅
• Long-term (LT) uptrend (dark green ribbon): the price is above the LT uptrend ribbon, the LT uptrend ribbon is rising, well established, expanding (i.e., gaining upside momentum), and it is acting as a zone of dynamic demand (i.e., there is a tendency for the price to bounce up off the LT uptrend ribbon) ✅

Price Action

• Rising peaks and rising troughs (i.e., symptomatic of supply removal and demand reinforcement, respectively) ✅
• Key points of demand (POD): Static: 14-Jan low @ 22.85; 31-Dec low @ 21.74; Dynamic: ST uptrend ribbon, presently 22.21-22.44
• Key points of supply (POS): None — blue sky!

Candles

• Predominantly demand-side (i.e., white-bodied and or downward pointing shadows) ✅

Volume

• Constructive: consistent with motivated demand-side vs supply-side vacuum ✅

View: The ALQ chart is what I call “a picture of excess demand”. It is exactly what a trend follower like me is perpetually on the hunt for: consensus. The trends, price action, candles, and volume combine to indicate an environment of motivated demand competing for limited and reluctant supply. Anything can happen tomorrow, but my model views this set of technicals as a MOTN-up proposition (More Often Than Not!).

Watch for ⚠️: A close below 21.74 / the short-term uptrend ribbon would terminate the short-term uptrend. Prior to this, the typical warning signs the supply-side is growing in influence and control: an increasing prevalence of supply-side candles (i.e., black-bodied and or upward pointing shadows) and or the formation of falling peaks and or of accompanying falling troughs.

#2 – Bellevue Gold (ASX: BGL)

In our previous update, we featured gold miners Genesis Minerals (GMD) and Catalyst Metals (CYL) that both made the list again this time around - along with no less than 14 other gold companies, ranging from explorers to developers and producers. With so many to choose from, we settled on Bellevue. 

Bellevue regained market confidence late in 2025 as development milestones improved and gold prices strengthened. While operational execution remains under scrutiny following earlier disruptions, brokers see leverage to gold and upside from successful ramp-up at Deacon North.

The next phase of underground development, production delivery consistency and cost control will be key catalysts, alongside ongoing drilling results that could extend mine life.

Fundie view

About a week ago, Maple-Brown Abbott's Phillip Hudak wrote the following about BGL; 

"We believe Bellevue Gold is a compelling investment in 2026 due to the expected turnaround in production with improving grades and recovery which is further supported with the roll-off of the hedge book in an elevated gold price environment".

Technical Analysis

ChartWatch ASX Scans: 16 Uptrends Scan List appearances since this phase of the long term uptrend began in November 2025 from a starting price of $1.11 (including 7x “Feature” charts). Most recent appearance: 6-Jan candle.

Trends

• Short-term (ST) uptrend: the price is above the ST uptrend ribbon, the ST uptrend ribbon is rising, well established, expanding, and it is acting as a zone of dynamic demand. ✅ BUT! The price is below the ST trend ribbon. ⚠️
• Long-term (LT) uptrend: the price is above the LT uptrend ribbon, the LT uptrend ribbon is rising, well established, expanding, and it is acting as a zone of dynamic demand ✅

Price Action

• Falling peaks and falling troughs (i.e., symptomatic of supply reinforcement and demand removal, respectively) ⚠️
• Key points of demand (POD): Static: 30-Dec low @ 1.58; Dynamic: ST uptrend ribbon, presently 1.575-1.635
• Key points of supply (POS): 7-Jan high @ 1.825

Candles

• Since 7-Jan high, predominantly supply-side⚠️

Volume

• Indeterminate: little to suggest there’s substantial supply in last sell off, rather, the demand-side has backed away.

View: BGL’s short-term trend reversal means it’s the dreaded crunch time for a trend follower like me: do I back the long-term trend or heed the growing warnings in the shorter-term price action that the supply-side is growing in influence and control of the price?

As the little girl in the taco commercial says: "Porque no los dos?"

This is the best way to explain my view on BGL: I cannot in good conscience continue at a full risk position (“FRP”). This simply means that I would pare back my typical exposure for one of my holdings (as I keep this consistent across all my holdings), and move to say, 2/3RP or 1/2RP. If BGL respects the dynamic excess demand I’d typically expect within the short-term trend ribbon and rallies, fantastic — I still have some risk exposure; but if it tanks, well, that’s not ideal — but at least I don’t still have my full risk exposure!

Should the price action develop in a more positive fashion, I can always add risk back to BGL; but should it trip the next point of demand (i.e., close below 1.575-1.58), I would reduce position risk further — likely to zero risk position (“ZRP”) upon the next trigger.

In this way, none of my technical analysis “calls” are ever static: they depend on how the trends, price action, candles, and volume develop. I simply decide: +R, =R, or -R (i.e., add risk, maintain risk, or reduce risk).

Watch for ⚠️: A close below 1.575 / the short-term uptrend ribbon (1.58) would terminate the short-term uptrend. Ideally, we see a strong demand-side candle out of the short-term uptrend ribbon ASAP to demonstrate the demand-side remains active and motivated. A quick close back above the 13-Jan high of 1.735 would steady the ship here.

 #3 – Codan (ASX: CDA) (repeat from last update)

Codan’s earnings momentum accelerated into FY26, driven by strong demand in metal detection and improving contribution from communications following recent acquisitions. The market has rewarded execution, though expectations are now higher.

Near-term catalysts include confirmation of upgraded guidance at the interim result and evidence that growth is broadening beyond gold-related demand, supporting a more durable earnings profile.

Fundie view

In a mid-December episode of Buy Hold Sell, Ten Cap's Jun Bei Liu rated Codan as a HOLD, and had the following to say; 

"I like the company, and we've been shareholders for quite some time, but it's done incredibly well. The company diversified its sales beyond the metal detector business into the communications space. And it's played into that whole defence thematic, with countries spending a lot - I think it's a really interesting thematic. It's just becoming a little bit more expensive. Great management team though, so I'll stick with it for the hold."

Jun Bei's fellow guest on that episode, Atlas Funds Management's Hugh Dive, was less enamoured, rating Codan a SELL, citing valuation concerns. 

Technical Analysis

ChartWatch ASX Scans: 40 Uptrends Scan List appearances between April-October 2025, between $16.86-$36.53 (including 20x “Feature” charts). Most recent appearance: 8-Jan candle (first in latest upturn!).

Trends

• Short-term (ST) uptrend: the price is above the ST uptrend ribbon, the ST uptrend ribbon is rising, well established, expanding, and it is acting as a zone of dynamic demand ✅
• Long-term (LT) uptrend: the price is above the LT uptrend ribbon, the LT uptrend ribbon is rising, well established, expanding, and it is acting as a zone of dynamic demand ✅

Price Action

• Rising peaks and rising troughs ✅
• Key points of demand (POD): Static: 4-Dec high @ 31.45; Dynamic: ST uptrend ribbon, presently 32.10-32.80
• Key points of supply (POS): 9-Jan high @ 39.20

Candles

• Predominantly demand-side ✅

Volume

• Constructive: consistent with motivated demand-side vs supply-side vacuum ✅

View: The 9-Jan gap/spike is a fantastic example of a sudden rerating of the stock. This is another strong example of consensus among the demand- and supply-sides. I prefer to add risk into such moves, generally after the typical shallow pullback that follows. Shallow pullback = little supply, even though the price is substantially higher = strong confidence among supply-side that higher prices are ahead.

Watch for ⚠️: A strong demand-side candle to signal the present pullback has run its course and demand-side motivation has increased, plus “profit taking for the sake of profit taking after a big price rise” supply has run its course.

#4 – Charter Hall Group (ASX: CHC) (Repeat from last update)

Charter Hall has remained defensive in a difficult property cycle, with investor focus squarely on balance sheet strength, asset valuations and distribution sustainability. While earnings growth has been constrained, the group’s diversified funds platform has helped cushion volatility.

Catalysts include stabilisation in commercial property valuations, leasing outcomes across key assets and any improvement in transaction volumes as interest rate pressures ease.

Fundie view

In the same mid-December episode of Buy Hold Sell noted above, Atlas Funds Management's Hugh Dive rated Charter Hall as a HOLD, and had the following to say;

"They've executed on whatever they've done. They've benefited also quite well from that rotation out of Goodman, growing the funds management business. 

I do not own this stock, but if I did own it, I'd probably still be holding it, but I wouldn't be buying anymore at these current levels. They've executed well, but a lot of it is predicated on expectation of falling rate cuts, which may or may not happen".

This time around, Jun Bei was less convinced, rating CHC a SELL, also citing uncertainty around rates.  

Technical Analysis

ChartWatch ASX Scans: 33 Uptrends Scan List appearances since this phase of the long term uptrend began in April 2025 from a starting price of $17.32 (including 12x “Feature” charts). Most recent appearance: 19-Dec candle.

Trends

• Short-term (ST) uptrend (amber ribbon): the price is below the ST trend ribbon, the ST trend ribbon is falling, compressing (i.e., losing upside momentum), and is no longer acting as a zone of dynamic demand ⚠️
• Long-term (LT) uptrend: the price is above the LT uptrend ribbon, the LT uptrend ribbon is rising, well established, expanding, and it is acting as a zone of dynamic demand ✅

Price Action

• Falling peaks and falling troughs ⚠️
• Key points of demand (POD): Static: 4-Dec low @ 23.52; Dynamic: LT uptrend ribbon, presently 21.05-22.50
• Key points of supply (POS): 22-Dec high @ 25.95

Candles

• Since 22-Dec high, mixed at best… ⚠️

Volume

• Cause for concern: Substantial volume spike coincided with 22-Dec high. Implies substantial supply likely “trapped” around that high = it may act as a significant point of supply. Subsequent lack of substantial volume suggests lack of demand-side engagement.

View: CHC, like BGL, is losing short-term momentum, but remains in a credible and strong long-term uptrend. I can certainly see a path to retaining some risk exposure here, say 2/3RP or 1/2RP — but a strong demand-side showing is required imminently.

Watch for ⚠️: A close below 23.52 as this would terminate the short-term uptrend. Ideally, we see a strong demand-side candle very soon, closing back above the short-term trend ribbon and the 12-Jan high of 24.74 to demonstrate the demand-side remains active and motivated.

#5 – CHAMPION IRON (ASX: CIA)

Champion Iron continues to stand out within the iron ore sector due to its premium product and disciplined capital management. Market attention has shifted to strategic expansion opportunities, including offshore assets that could diversify earnings.

Key catalysts include progress on proposed acquisitions, iron ore price direction and delivery against production guidance as cost pressures remain elevated across the sector.

Fundie view

Not a fundie view, as such, but Carl wrote a hugely popular article as part of our Livewire Christmas series, in which Champion Iron was featured. You can access the article here, whilst the broker analysis from that article is replicated below. 

Technical Analysis

ChartWatch ASX Scans: 20 Uptrends Scan List appearances since this phase of the long term uptrend began in October 2025 from a starting price of $4.95 (including 9x “Feature” charts). Most recent appearance: 15-Jan candle.

Trends

• Short-term (ST) uptrend: the price is above the ST uptrend ribbon, the ST uptrend ribbon is rising, well established, expanding, and it is acting as a zone of dynamic demand ✅
• Long-term (LT) uptrend: the price is above the LT uptrend ribbon, the LT uptrend ribbon is rising, well established, expanding, and it is acting as a zone of dynamic demand ✅

Price Action

• Rising peaks and rising troughs ✅
• Key points of demand (POD): Static: 12-Jan low @ 6.30; 12-Dec high @ 6.24; Dynamic: ST uptrend ribbon, presently 6.13-6.30
• Key points of supply (POS): 30-Sep 2024 high @ 7.57

Candles

• Predominantly demand-side ✅

Volume

• Constructive: consistent with motivated demand-side vs supply-side vacuum ✅

View: A classic “Turnaround Setup” as per my technical analysis model. I’ve taught this setup to my ChartWatch *LIVE* Webinar viewers, and many are using it to great effect. As a trend follower, I’ll never pick the exact bottom of a major trend reversal — in this case, the 23-July low of 3.89 — because such lows are likely consistent with strong supply-side control. The Turnaround Setup seeks to enter a new uptrend when the trends, price action, candles, and volume suggest a MOTN-up outcome. In this case, the signal came on the 23-Oct candle which closed at 4.95. Not quite 3.89, but my goal is to be consistently profitable, not to pick tops and bottoms!

Watch for ⚠️: A close below 6.30 / the short-term uptrend ribbon would terminate the short-term uptrend. Prior to this, the typical warning signs the supply-side is growing in influence and control: an increasing prevalence of supply-side candles and or the formation of falling peaks and or of accompanying falling troughs.

#6 – Nick Scali (ASX: NCK)

Nick Scali has defied broader retail weakness, supported by strong written sales, disciplined inventory management and continued expansion in offshore markets. Profitability has remained robust despite cost pressures, keeping brokers constructive on the outlook.

Catalysts include upcoming trading updates, margin performance as freight costs normalise, and progress in the UK rollout, which remains the key medium-term growth lever.

Fundie view

It couldn't get any fresher than this, with Auscap's Tim Carleton pitching NCK as his top growth stock for 2026 in the latest Outlook Series. Carleton had the following to say about the company, which is a long-term holding for Auscap; 

"Both domestically and internationally, the opportunities are abundant for Nick Scali. So we're starting to see a pickup in the domestic furniture market. They have the opportunity to nearly double the domestic store network across their two brands, Nick Scali and Plush. And that's pretty exciting, but the real opportunity we think here is international expansion. 

They've gone into the UK market with an initial foray into 20 stores. They've got their margins much closer to the Australian margins in very, very quick time. So the only question really is whether the product resonates with the UK consumer. And the early signs there are very positive."

Technical Analysis

ChartWatch ASX Scans: 16 Uptrends Scan List appearances between April-October 2025 from a starting price of $17.31 and up to $25.64 (including 9x “Feature” charts). Most recent appearance: 30-Oct candle (rueing not running it on 12-Jan, it’s very close to going back in!).

Trends

• Short-term (ST) uptrend: the price is above the ST uptrend ribbon, the ST uptrend ribbon is rising, well established, expanding, and it is acting as a zone of dynamic demand ✅
• Long-term (LT) uptrend: the price is above the LT uptrend ribbon, the LT uptrend ribbon is rising, well established, expanding, and it is acting as a zone of dynamic demand ✅

Price Action

• Rising peaks and rising troughs ✅
• Key points of demand (POD): Static: 23-Dec high @ 24.47; 8-Jan low @ 23.14; Dynamic: ST uptrend ribbon, presently 23.65-23.95
• Key points of supply (POS): 31-Oct high @ 25.98

Candles

• Predominantly demand-side ✅

Volume

• Constructive: consistent with motivated demand-side vs supply-side vacuum ✅

View: Hindsight is a wonderful thing — I now know I should have run this one on the 12-Jan candle. Above average volume on that day and I would have. Now that the major point of supply from the 31-Oct peak is in play, I prefer to see if supply does indeed manifest there (we will see it in supply-side candles and elevated volume). When I’m confident the major point of supply has been dealt with, one can expect NCK will begin to feature in ChartWatch ASX Scans Uptrends lists again.

Watch for ⚠️: A close below 24.47 / the short-term uptrend ribbon would terminate the short-term uptrend. Prior to this, the typical warning signs the supply-side is growing in influence and control: an increasing prevalence of supply-side candles and or the formation of falling peaks and or of accompanying falling troughs.

#7 – NRW Holdings (ASX: NWH)

NRW has faced a tougher earnings environment as mining services margins came under pressure, but its diversified contract base has helped stabilise revenue. Broker interest has centred on order book visibility and capital discipline rather than near-term growth.

Upcoming contract wins, margin recovery initiatives and execution on recently acquired businesses are the main catalysts investors are watching into FY26.

Fundie view

In a September conversation with Livewire, Datt Capital's Emanuel Datt shared that he'd been adding NWH at sub-$3 prices over time and said the following of the company; 

"We believe it is well run and was able to benefit from the negative media sentiment with respect to the company’s exposure to the Whyalla Steelworks." 

Technical Analysis

ChartWatch ASX Scans: 29 Uptrends Scan List appearances since this phase of the long term uptrend began in August 2025 from a starting price of $3.31 (including 10x “Feature” charts). Most recent appearance: 15-Jan candle.

Trends

• Short-term (ST) uptrend: the price is above the ST uptrend ribbon, the ST uptrend ribbon is rising, well established, expanding, and it is acting as a zone of dynamic demand ✅
• Long-term (LT) uptrend: the price is above the LT uptrend ribbon, the LT uptrend ribbon is rising, well established, expanding, and it is acting as a zone of dynamic demand ✅

Price Action

• Rising peaks and rising troughs ✅
• Key points of demand (POD): Static: 8-Jan low @ 5.23; Dynamic: ST uptrend ribbon, presently 5.23-5.31
• Key points of supply (POS): After 1-Dec high @ 5.60 = None — blue sky!

Candles

• Predominantly demand-side ✅

Volume

• Constructive: consistent with motivated demand-side vs supply-side vacuum ✅

View: I trust that by now, even those who are new to my technical analysis model can easily determine what I think about NWH. This, and ALQ, are the closest among the 7 stocks listed here that are the best representation of “perfect consensus”. Those with cash (i.e., demand) want nothing but to own NWH. Those with stock (i.e., supply) want nothing but to own NWH.

The average investor might say: “Oh, I can’t buy that, it’s gone up to much… surely it’s expensive!”. But that would be completely ignoring the market’s view. Those demanding clearly do not think NHW is expensive (for why else are they falling over themselves to buy?), nor do those supplying (for why else are they holding on so tightly!). Good trend following is about dispensing with what “we think”, accepting the market’s view, and simply going with the path of least resistance.

Watch for ⚠️: A close below 5.23 / the short-term uptrend ribbon would terminate the short-term uptrend. Prior to this, the typical warning signs the supply-side is growing in influence and control: an increasing prevalence of supply-side candles and or the formation of falling peaks and or of accompanying falling troughs.

Over to you

What's your favourite growth stock right now and why do you like it? Let us know in the comment section below.