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Finer Market Points: ASX Top 10 Momentum Stocks: 2 Sept 2024BSE:DEL ASX:LRV BME:MCM GETTEX:AQC ASX:RIM ASX:EZZ NYSE:HUM NYSE:AGR XETR:BAS AMEX:AIM Momentum leading shares are the market's best performers today. They are the fastest-growing shares on the ASX over the last 90 days. These companies can't get to be leaders without first appearing on our Launch Pad list. The Launch Pad List is published weekly on Fridays. Today's ASX's Top 10 Quarterly Momentum Stocks are: Delorean Corporation Limited (DEL) Larvotto Resources Limited (LRV) MC Mining Limited (MCM) Australian Pacific Coal Limited (AQC) Rimfire Pacific Mining Limited (RIM) EZZ Life Science Holdings Limited (EZZ) Humm Group Limited (HUM) Aguia Resources Limited (AGR) Bass Oil Limited (BAS) Ai-Media Technologies Limited (AIM)
ASX:AQC
by ch886
ASX WTM - Exploratory EMA Strategy: 30-Min Back-TestThis script implements a simple EMA crossover strategy for backtesting purposes on 30-minute intervals. It uses the following parameters: Entry Signal: Triggered when the 118-period EMA crosses above the 150-period EMA. Exit Signal: Triggered when the 18-period EMA crosses below either the 118-period or 150-period EMA. Backtest Results (6M): Net Profit: 1,565.10 AUD (+156.51%) Total Closed Trades: 2 Percent Profitable: 50.00% Max Drawdown: 47.61 AUD (4.76%) Average Trade: 782.55 AUD (78.26%) These results are based on a 6-month period using 30-minute candles and should be taken with caution. This strategy performed well during this period, but past performance is not indicative of future results. Remember, this script is intended for back-testing and exploration only.
ASX:WTMLong
by PPonBIN
Technical analysis of PWR Holdings Limited ASX:PWH1. Trend Analysis: Long-Term Trend: The stock has been in an overall uptrend from 2019 to mid-2023, characterized by higher highs and higher lows. Recent Downward Movement: Recently, the stock has experienced a significant pullback from its highs around 12 AUD to the current level of 8.89 AUD, breaking below several key moving averages. 2. Moving Averages (MAs): 20-week EMA (Red Line): Currently around 10.83 AUD, the price is significantly below this level, indicating short-term bearish momentum. 50-week EMA (Orange Line): Around 10.71 AUD, also above the current price, which suggests weakening in the medium-term trend. 100-week EMA (Blue Line): At 10.13 AUD, the price is below this EMA, indicating the stock is under significant pressure. 200-week EMA (Purple Line): Near 8.82 AUD, the stock is approaching this long-term support level. Historically, the 200-week EMA is a strong indicator of the long-term trend. A break below could suggest a deeper correction. 3. Support and Resistance Levels: Support: The stock is currently testing the 200-week EMA support level around 8.82 AUD. Below this, there may be support around the previous lows near 6.72 AUD, as indicated on the chart.Resistance: Immediate resistance is likely at the 10 AUD mark, aligning with the cluster of moving averages (20, 50, 100-week EMAs) above the current price. 4. Volume Analysis: Moderate Volume Increase: There is a slight increase in volume accompanying the recent decline, which might suggest that the selling pressure is increasing. However, the volume is not significantly higher, which could imply that the move down isn’t accompanied by a broad capitulation by investors yet. 5. Relative Strength Index (RSI): RSI Value: The RSI is currently around 30.61, which is close to the oversold territory (typically below 30). This suggests that the stock might be oversold, and there could be potential for a rebound if buying interest increases. 6. Candlestick Patterns:The recent red candlestick with a long body reflects strong bearish sentiment. The stock has formed a series of bearish weekly candles, signaling continued selling pressure. 7. Potential Trading Strategy: Bullish Scenario: If the 200-week EMA (around 8.82 AUD) holds as a support and the RSI begins to turn upwards from oversold levels, there could be a buying opportunity for a rebound play. Watching for bullish reversal candlestick patterns or a decrease in selling volume would be key indicators to confirm this. Bearish Scenario: If the stock breaks below the 200-week EMA with sustained volume, it could suggest further downside, possibly toward the next support level around 6.72 AUD. In this case, it might be prudent to either avoid buying or consider selling to limit losses.
ASX:PWH
by oleksandrdykh
McMillan Shakespeare Limited (MMS) Chart OverviewThe current price is AUD 15.86, reflecting a significant drop of 10.04% from the previous close. This suggests a sharp negative sentiment and reaction to recent business update and outlook provided. Support and Resistance Levels Support Levels: The EMA 50 (around AUD 15.80) is a potential immediate support level. The next major support could be around the AUD 14.00 to AUD 14.50 range, where the EMA 100 lies and coincides with a previous price consolidation area in mid-2022. Resistance Levels: The recent high near AUD 18.00 serves as a significant resistance level. This is where sellers have previously come in strong, and it aligns with the most recent peak before the sharp decline. Potential Trade Setup Bullish Scenario (Buying Opportunity) Entry Point: If you believe the longer-term trend (indicated by the EMA 100 and EMA 200) will prevail, a potential buying point could be near the current EMA 50 (around AUD 15.80). Waiting for a confirmation of a reversal, such as a bullish candlestick pattern or a bounce off this level, would provide a safer entry. Profit Target: First Target: AUD 17.00 (near the recent swing highs). This level would provide a good risk-to-reward ratio for a short-term trade. Second Target: AUD 18.00 (recent peak). If momentum continues, breaking this resistance could lead to a new uptrend. Stop Loss: A stop-loss could be placed slightly below the EMA 100, around AUD 14.00, to protect against a deeper correction. This would be below the last significant low, ensuring that if the price continues downward, you're out of the trade. Bearish Scenario (Shorting Opportunity) Entry Point: If the sentiment remains bearish, a potential short-selling opportunity could arise if the price breaks below the EMA 50 with strong volume and bearish candlestick confirmation. Profit Target: First Target: AUD 14.50, which aligns with the EMA 100 and a previous support area. Second Target: AUD 13.00, where there was historical price action support in 2021. Stop Loss: A stop-loss could be placed just above the recent high at AUD 17.00 to mitigate the risk of a reversal. Volume Analysis Volume bars at the bottom of the chart show trading activity, with larger bars indicating higher volume. The recent drop accompanied by high volume suggests strong selling pressure. If this continues, it could confirm the bearish sentiment. Conversely, a drop in volume with declining prices might suggest a weakening bearish trend, potentially signaling a reversal impact stock prices. Based on the chart and current technical setup: Bullish traders might look for signs of support around the EMA 50 or EMA 100 and seek confirmation of a reversal before entering a trade. Bearish traders might focus on the recent downward momentum and look for a break below current support levels to continue the trend.
ASX:MMS
by oleksandrdykh
Bisalloy Steel Group Limited (ASX: BIS) Technical Analysis Sum-rCurrent Trend and Price Action Long-Term Trend: The stock has been in a strong uptrend since early 2021, marked by a series of higher highs and higher lows. Recent Correction: The recent sharp decline from a peak near AUD 4.50 to around AUD 2.69 indicates a significant pullback. This could be a correction after a strong upward move, suggesting a temporary bearish phase within a larger bullish trend. Moving Averages Analysis 20 EMA (Short-Term): The stock has broken below the 20 EMA, indicating short-term bearish momentum. This suggests the immediate trend may continue downward unless a reversal signal appears. 50 EMA (Medium-Term): Currently at around AUD 3.00, the 50 EMA may act as a near-term resistance if the price tries to recover. 100 and 200 EMAs (Long-Term): These are trending upward and currently positioned around AUD 2.00-2.20. These levels provide strong long-term support and may act as a potential bounce zone if the price continues to decline. Support and Resistance Levels Immediate Support: AUD 2.50, where previous consolidation occurred. If the price finds support here, it could present a buying opportunity. Major Support: AUD 2.00-2.20, near the 100 and 200 EMAs. This range could provide strong support due to its alignment with long-term moving averages. Resistance: AUD 3.00 (50 EMA) and around AUD 4.00-4.50 (recent peak). These levels will be critical resistance zones if the price begins to recover. Volume Analysis The significant volume spike during the recent peak and subsequent decline suggests strong selling pressure, possibly due to profit-taking or adverse market sentiment. Trading Strategy Bullish Scenario: Enter a long position if the price stabilizes around the AUD 2.50 support or shows bullish reversal patterns around the AUD 2.00-2.20 range. Profit Target: First target around AUD 3.00 (50 EMA), with a second target near the recent high at AUD 4.00-4.50. Stop-Loss: Set a stop-loss just below AUD 1.90 to protect against a breakdown below long-term support. Bearish Scenario: Consider a short position if the price breaks below AUD 2.50 with strong volume. Profit Target: Around AUD 2.00-2.20, aligning with the 100 and 200 EMAs. Stop-Loss: Place a stop-loss above AUD 3.00 to limit losses in case of a rebound. Bisalloy Steel Group Limited's stock is currently in a corrective phase after a strong uptrend. Key support levels are around AUD 2.50 and AUD 2.00-2.20. Watch for potential bullish reversal signals at these levels, or further downside if they fail to hold. Use appropriate stop-losses to manage risk in either scenario.
ASX:BISShort
by oleksandrdykh
Ampol Limited (ASX: ALD) Technical Analysis SummaryCurrent Trend: The stock has been in a long-term uptrend but recently experienced a pullback after reaching a peak. Moving Averages: 20 EMA (Short-Term): Shows a downward trend, indicating short-term bearish sentiment. 50 EMA (Medium-Term): Flattening, which suggests potential weakening of the medium-term uptrend. 100 and 200 EMAs (Long-Term): Still trending upward, indicating that the long-term trend remains bullish. Support Levels: Immediate Support: AUD 27-28 (near the 50 EMA). Stronger Support: AUD 23-24 (near the 100 EMA). Resistance Level: Around AUD 35, near the recent high. Trading Strategy: Bullish Scenario: Enter a long position around AUD 27-28 if reversal signals appear. Set a profit target near AUD 35 and a stop-loss below AUD 22. Bearish Scenario: If the stock breaks below the 100 EMA (AUD 23-24), consider a short position targeting the 200 EMA (AUD 18-20). Set a stop-loss above AUD 29. Watch key support and resistance levels to determine the stock's next move. Use appropriate stop-losses and profit targets to manage risk effectively.
ASX:ALDShort
by oleksandrdykh
Looking at the weekly chart of Fenix Resources Ltd (FEX)Long-Term Trend: The stock has been in an overall uptrend since 2020, evident from the steady upward movement and the upward sloping 200 EMA (Exponential Moving Average). The 50 and 100 EMAs are also trending upwards, confirming the long-term bullish trend. Recent Performance: There was a significant spike in price leading up to mid-2024, reaching a peak around the 0.44 AUD mark before a sharp correction occurred. The price has retraced to the 0.30 AUD level, suggesting some profit-taking or a reaction to market news. Support: The stock seems to have strong support around the 0.295 AUD to 0.300 AUD level, which aligns with the previous consolidation zone. This is also around where the 50 EMA is currently positioned. Resistance: Immediate resistance is likely to be around the 0.360 AUD to 0.370 AUD level, where the stock has previously struggled to maintain upward momentum. Moving Averages The 20 EMA has crossed below the 50 EMA, which could be a bearish signal in the short term, suggesting the possibility of further downside. However, the longer-term EMAs (100 and 200) are still sloping upwards, which is a positive sign for the overall trend.The price is currently resting on the 50 EMA, which might act as a short-term support level. Volume Analysis There was a noticeable increase in trading volume during the price spike, followed by a decrease as the price corrected. This suggests that the recent rally may have been driven by strong buying interest, but the correction might indicate that the buyers are currently pausing or taking profits. Profit Target: If the stock rebounds from the current level (around 0.30 AUD), the first profit target could be around 0.360 AUD, aligning with the next resistance level. A more optimistic target could be around 0.400 AUD if the stock regains upward momentum. Stop Loss: A prudent stop loss would be placed slightly below the recent low, around 0.280 AUD, to protect against a further downside move, as a break below this level might suggest a deeper correction towards the 100 EMA around 0.260 AUD. Prediction Given the current chart setup, the stock may continue to consolidate around the 0.30 AUD level before making a more decisive move. If it holds above the 50 EMA and gains bullish momentum, it might attempt to retest the 0.360 AUD resistance. However, if it breaks below 0.295 AUD, the next key support might be the 100 EMA around 0.260 AUD, which would be crucial to watch. In summary, FEX is currently at a pivotal point. Traders should watch for a bounce from the current level as a potential buying opportunity, but be prepared to exit if the stock breaks below key support levels.
ASX:FEXLong
by oleksandrdykh
2
Finer Market Points: ASX Top 10 Momentum Stocks: 26 Aug 2024ASX:LRV ASX:APX NYSE:EXR ASX:MME PSE:AEV NYSE:WTM GETTEX:AQC NYSE:PDI ASX:I88 NASDAQ:NXL Momentum leading shares are the market's best performers today. They are the fastest-growing shares on the ASX over the last 90 days. These companies can't get to be leaders without first appearing on our Launch Pad list. The Launch Pad List is published weekly on Fridays. Today's ASX's Top 10 Quarterly Momentum Stocks are: Larvotto Resources Limited (LRV) Appen Limited (APX) Elixir Energy Limited (EXR) MoneyMe Limited (MME) Avenira Limited (AEV) Waratah Minerals Limited (WTM) Australian Pacific Coal Limited (AQC) Predictive Discovery Limited (PDI) I88 (Name not found) Nuix Limited (NXL)
ASX:MME
by ch886
Finer Market Points: ASX Top 10 Momentum Stocks: 20 Aug 2024ASX:APX ASX:LRV NYSE:WTM ASX:NXL ASX:MEK GETTEX:CYL ASX:MME GETTEX:AWJ NYSE:PDI ASX:ZIP Momentum leading shares are the market's best performers today. They are the fastest-growing shares on the ASX over the last 90 days. These companies can't get to be leaders without first appearing on our Launch Pad list. The Launch Pad List is published weekly on Fridays. Today's ASX's Top 10 Quarterly Momentum Stocks are: Appen Limited (APX) Larvotto Resources Limited (LRV) Waratah Minerals Limited (WTM) Nuix Limited (NXL) Meeka Metals Limited (MEK) Catalyst Metals Limited (CYL) MoneyMe Limited (MME) Auric Mining Limited (AWJ) Predictive Discovery Limited (PDI) Zip Co Limited (ZIP)
ASX:NXL
by ch886