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3 ASX Stocks with Bullish Charts
When you spend enough time around the ASX, you start to notice a certain rhythm in how strong charts behave. Some stocks creep for weeks, building energy in tight ranges, and then, almost without announcement, they begin flashing early signs of strength. In this review, we focus on three ASX-listed companies whose price action suggests further upside.
Electro Optic Systems (ASX: EOS): Pricing the Counter-Drone and Laser Defence Opportunity
Electro Optic Systems develops remote weapon systems, counter-drone platforms and laser defence technologies for military customers. Despite strong order-book growth and rising defence demand, the company still generates operating losses and negative cash flow. Its valuation is largely based on future growth in counter-drone and directed-energy defence systems.
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Mount Ridley Mines (ASX: MRD): Selectro Process Impresses as Shares Approach Resistance
Mount Ridley Mines (ASX: MRD) achieved a 91.8% scandium recovery breakthrough with its Selectro™ process, using half the reagent dose, at its largest scandium resource. Shares trade in an uptrend, though technicals suggest limited room for an entry at current levels.
Po Valley Energy (ASX: PVE) Eyes Multi-Well Future With Fresh Hera Gas Deal
Po Valley Energy (ASX: PVE) signed a new 12-month gas supply deal with Hera Trading and cleared a key regulatory step for its Selva Malvezzi four-well drilling program, backed by record August gas revenue.
Aeris Resources (ASX: AIS): Strong Earnings Today, Longer-Term Value Beyond Cracow
Aeris delivered strong FY26 earnings and cash flow, underpinned by Tritton and Cracow, with no debt. Growth projects support longer-term value, but higher FY27 capital spending and Cracow’s limited reserves create execution risks.
GR Engineering Services (ASX: GNG): Record Order Book Converts to Earnings, Valuation Now Close to Fair
GR Engineering’s record A$1.29 billion order book underpins FY27 revenue guidance of A$825–850 million, following record FY26 earnings. Strong project demand supports growth, but fixed-price execution risks, a stretched dividend payout and a demanding valuation warrant caution.
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