Finer Market Points: ASX Top 10 Momentum Stocks: 25 Feb 2025 EURONEXT:DHG MIL:CLE LSE:CLA NYSE:NAN LSE:MYX ASX:MP1 ASX:AQD MIL:ARN NYSE:ALC MIL:WLD 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 shared on Thursdays and the video interview published after market close on Fridays. Today's ASX's Top 10 Quarterly Momentum Stocks are: Domain Holdings Australia Limited (DHG) Cyclone Metals Limited (CLE) Celsius Resources Limited (CLA) Nanosonics Limited (NAN) Mayne Pharma Group Limited (MYX) Megaport Limited (MP1) AusQuest Limited (AQD) Aldoro Resources Limited (ARN) Alcidion Group Limited (ALC) Wellard Limited (WLD)
NAN trade ideas
#NAN turns bearishAfter a small uptrend in the last week, price has been rejected for the fourth time since October. Accompanied by long wicks to the upside suggesting bulls are losing control, even more confidence with the most recent Shooting Star candle that formed on the daily. Long wicks to the upside on both the weekly and monthly too suggesting a pull back before their expected earnings in late February.
Entry: $7.03
Stop Loss: $7.18
Target: $6.41 - Next level of Fibs and support
R-Multiple: 3.75 - 22% win rate needed to be profitable.
NAN Shorting Opportunity Short position opportunity for Nanosonic.
Trend changed to bearish after it failed to make a HL on the daily time frame. Bearish on the weekly with a big red candle at the top of the trend taking away all of the gains from the previous week, the week just gone showing another big red candle, suggesting the bears are completely in control. Also showing long wicks to the upside in the last three months of candles on the monthly, suggesting that the bulls are unable to hold this upward momentum that they've had since December 2018.
Also, this massive gap at $5.89 to $5.23 has been around since August, suggesting it may be time for it to be filled.
Short Price: $6.66
Stop Loss: $6.94 or 5.11%, pushing the risk limit I usually would want, although its a possible 21.62% gain down to the bottom of that gap, so it needs some room to let the trade play out.
Buy Price: $5.22 which pretty much sits at 78.60% fib level, which means it could take days to weeks.