ASX Top 10 Momentum Stocks: 7 July 2023ASX:AW1 MIL:AT1 NYSE:ARL ASX:WC8 ASX:AZS NASDAQ:SLM ASX:IIQ XETR:ENR NYSE:KAI ASX:LRS
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.
Today's ASX's Top 10 Quarterly Momentum Stocks are:
American West Metals Limited (AW1): American West Metals Limited is a copper-focused miner in North America. They have the Storm Copper Project in Nunavut, Canada, and the zinc-copper-indium deposit at West Desert and Copper Warrior Project in Utah, USA.
Atomo Diagnostics (AT1): Atomo Diagnostics specializes in the development and manufacturing of rapid diagnostic test devices.
Ardea Resources Ltd (ARL): Ardea Resources Ltd is a mineral exploration and development company focused on nickel, cobalt, and gold projects in Western Australia.
Wildcat Resources (WC8): Wildcat Resources is a WA and NSW gold explorer with exposure to lithium, caesium, tantalum, nickel, and copper as well.
Azure Minerals (AZS): Azure Minerals is a mining company that explores and develops mineral deposits, with a focus on precious and base metals.
Solismineralsltd (SLM): Solismineralsltd is a Latin American battery metals focused mining exploration company. They have acquired 22 lithium exploration licenses in northeastern Brazil. In addition, SLM holds an IOCG (iron oxide copper/gold) and porphyry copper projects in southwestern Peru within the country’s prolific coastal copper belt.
Inoviq Ltd (IIQ):
Encounter Resources (ENR):
Kairos Minerals Ltd (KAI): Kairos Minerals Ltd is an exploration and development company focused on gold and nickel-copper sulfide projects in Western Australia.
Latin Resources Ltd (LRS): Latin Resources Ltd is an Australian-based mineral exploration company with a focus on lithium, copper, gold, and other base metals.
AT1 trade ideas
New ASX SmallCap with 30%+ Profit PotentialHunting for a LONG on ATOMO ASX:AT1
I've been watching AT1 for a while since it came on the market and it didn't look attractive because it was so new and volatile.
However, I've since noticed that it's attempting to cross the downtrend line and also break up through resistance.
I must stress - important to wait to clear these levels before engaging. Yes, you pay more, but its a safer trade.
I'm not waiting for AT1 to clear and close above $0.36 before entering for a long.
TRADE SPECIFICS:
ENTRY - $0.37
TAKE PROFIT 1 - $0.475 - 30% PROFIT
TAKE PROFIT 2 - $0.52 - 42% PROFIT
STOP LOSS - $0.31
RISK : REWARD - 1 : 2
This is the 1HR chart I'm looking at, so assumptions are based here, however this is OK for me as I have reviewed the 4HR already and came to the same conclusions. Safe players might apply the same engagement above but wait for a close above $0.36 on the 4HR rather.
If you like my ideas, please LIKE and FOLLOW me! :-)
Reminder - this is not financial advice, simply an idea. Please do your own research before entering any trades and ensure you use risk management such as stop losses.
Remember, there is only 5 outcomes when you enter a trade:
1. Break Even
2. Small Win
3. Small Loss
4. Big Win
5. Big Loss
Eliminate #5 from your future options.
Happy Hunting!
IPO Base SetupBased on the company’s fundamentals, looked promising. After AT1 listed, strong opening on 2nd day. I bought 45 at open, sold half at 55 on the same day, making my average to 35.
Next day, I made a mistake and traded out of my system. Big mistake as I added at 545. Then it didn’t act right as the day goes, I sold out at 49.
I turned a profitable trade to a losing one. Lesson learnt. Instead of doing day trading, I’ll be watching this for few more weeks. Let the IPO base to setup.
