SMA is often used to determine whether a stock price will continue in the same direction, or if it will reverse a bull or bear trend.Īs a general rule, if the current stock price is above the SMA, the price trend is up. Simple moving averages (or SMA) is another indicator that can be used to gauge momentum. Landowner and statutory approvals are now in place for the two programs. These projects are located 5km and 13km respectively north of Allkem’s Mt Cattlin Lithium mine.

The company will use the funds to complete a reverse circulation (RC) drilling program totalling about 3000m across its wholly owned Mt Cattlin project, and its Mt Short JV project with Anax Metals, which are both located in a proven lithium belt. Woomera recently announced that it had received binding commitments for a placement of 233 million shares to professional and sophisticated investors at an issue price of $0.009 per share to raise $2.1 million.

MORE FROM STOCKHEAD: Cash splash on financial advisers | Brokers back Webjet, Life360 | ASX small caps ‘underloved’, says Datt Given ClearView’s sole focus on life insurance, ClearView has determined to sell its strategic investment in Centrepoint. The sale shares represent approximately 19.9 per cent of Centrepoint’s current issued capital.ĬlearView first acquired a 24.5 per cent holding in Centrepoint in November 2021, and has held the strategic investment since that date. The life insurance company announced the sale of approximately 39.56 million shares in Centrepoint Alliance ( ASX:CAF) to COG Financial Services ( ASX:COG), at a share price of 33c each, representing total consideration of $13.05 million.

On the other hand, if a stock is far away from its 52-week high, chartists believe the momentum will continue going that way. This is due what’s called the “52-week high effect” – where if a price has broken out above its 52-week range, there must be some factor that generated enough momentum to further continue the price movement in the same direction. Traders often view the 52-week highs as entry signals. There are several indicators to quantify momentum, and here we look at three main signals used by the market: The goal for momentum traders is basically to enter into trades at key points in the trend in order to maximise profits. So to be a successful momentum trader, one needs to be able to identify the best stocks quickly and accurately. Obviously there’s a bit of risk involved, because in essence, you’re making a decision to buy or sell a stock based on recent buying or selling activities of other traders.

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