AU Stock Papertrading Season 2: Who's in the top 10 last week?
The Weekly Leaderboard is back! With the papertrading competition heating up, let's see who made it to the top 10 last week. Who among them will push harder to become the champion?
🎉Congratulations to the top 10 mooers on the leaderboard
*Data from July 8 2024 ~ July 12, 2024
📑Thrilling trading moments from mooers
DRO: A Top Pick Among Traders
Despite holding different positions, the leading three traders from last week all shared a common investment: $Droneshield Ltd(DRO.AU$, which yielded them substantial profits. From July 8 to July 12, DRO's stock price surged by over 20%.
Dro specializes in developing and selling hardware and software for drone detection. Their solutions cater to government and military entities, airports, commercial venues, prisons, and critical infrastructure. The company has secured numerous new orders in recent years, particularly in the United States and Australia.
The share price of DroneShield has recently soared to a record high of $2.54, even though no significant news has been released from the company in almost three weeks. ASX investors have been driving DroneShield shares higher amidst escalating global tensions. In the past year, drones have played an increasingly prominent role in conflicts, such as those in Ukraine and the Middle East, and have also posed growing threats to civilian infrastructure, prisons, and airports.
With the rapid advancement of AI technology, the threats posed by autonomous drones are expected to increase. Consequently, the demand for AI-enabled drone defense capabilities is likely to grow in tandem with these threats. Among the factors contributing to DroneShield's growth potential are the increasing threats posed by AI technology and the corresponding need for advanced defense solutions.
However, investors should be aware of the associated risks. Following such significant success, it is not surprising to see some minor shareholders taking profits.
CBA: A Significant Force in the ASX 200
$CommBank(CBA.AU$saw its share price rise by 3.6% last week, contributing to a robust 15.8% increase over the course of 2024.
This surge in CBA shares isn't the only noteworthy event; the S&P/ASX 200 Index (ASX: XJO) also reached a new all-time high of 8026.2 points on Monday. As the second-largest stock by market capitalization in the ASX 200, CBA's share price performance exerts a large influence on the broader index.
According to the Australian Financial Review, part of CBA's rally is attributed to signs of a stronger-than-expected economic performance following a series of interest rate hikes, with expectations of imminent rate cuts by central banks.
In summary, while CBA's share price performance has greatly contributed to the ASX 200 reaching new heights, it has also resulted in a reduced dividend yield, prompting a reevaluation among income investors.
📣Don't you know how to find an opportunity?
Last week, $S&P/ASX 200(.XJO.AU$ and ASX 200 shares ended the week with a momentous session. After the ASX 200 crossed over 7,900 points on Thursday, last Friday saw the Index hit a fresh new record high of 7,969.1 points.
Well, this week, the records have just kept on coming.
After opening at 7,959.3 points this morning, the ASX 200 climbed all the way up to 8,037.3 points – the ASX 200's new record high.
Will the market be able to build on surging this week? Here are the important things to watch from our moomoo official market strategist-Jessica Amir.
China's closely watched third plenum, held twice a decade to set structural reforms, takes place this week, Monday to Thursday, bringing commodities and chips into focus.
Trading focus:
1. Watch $Fortescue Ltd(FMG.AU)$ for pro-China and pro-iron ore, and its shares are down 22% from its recent high. And 90% of Fortescue's income is from China, whereas $BHP Group Ltd(BHP.US$ and $Rio Tinto(RIO.US$ are more diversified. And do consider, that If China announces infrastructure or data center stimulus, the iron ore could move up off three-month low territory. And its shares would see a great swing than BHP or RIO given FMG is pegged to China and iron ore.
1. Watch $Fortescue Ltd(FMG.AU)$ for pro-China and pro-iron ore, and its shares are down 22% from its recent high. And 90% of Fortescue's income is from China, whereas $BHP Group Ltd(BHP.US$ and $Rio Tinto(RIO.US$ are more diversified. And do consider, that If China announces infrastructure or data center stimulus, the iron ore could move up off three-month low territory. And its shares would see a great swing than BHP or RIO given FMG is pegged to China and iron ore.
3. Watch AI and data centers such as Tencent and keep an eye on Chip ETFS $Global X Semiconductor ETF(SEMI.AU)$ .
4. Watch oil as oil market volatility is at its lowest level since June 2015. Watch Warren Buffett's majority owned Occidental Petroleum.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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