Competition Analysis | Who are the first batch of leaders in ASX stocks Papertrading Competition?

Hope you survive from the falling-last-week and enjoy your journey in Papertrading Competition Season 3. We found a lot of gainers killing the rank in the fluctuating ASX stock market.

To utilize these extraordinary mooers by their trading strategies, here we output the Competition Analysis column, to boost the atmosphere of competition!

Let's shout out to the Top 10 mooers in Papertrading Competition last week (Australian stock market):

On August 29, the company announced its 2024 financial results, revealing a 34% decline in net profit. On the day of the announcement, Cettire's stock price plummeted by 20%, reflecting the company's strained profitability.

– However, post-crash, the stock was influenced by several event-driven factors. On September 2, Bell Potter maintained its speculative buy rating with a target price of $2.00, suggesting a nearly 60% potential upside over the next 12 months. Subsequently, the company's founder and CEO Dean Mintz increased his stake by a considerable $15.8 million. Since hitting its low, the stock has rebounded by over 60%.

The company's stable revenue growth, market recovery, significant progress in the CORIS project (with the FDA de novo regulatory application submitted and under review), and robust financial health have attracted considerable investor attention, driving the stock price up.

However, with the stock now in a high-risk zone due to its continuous rise and substantial profits already realized, investors should be cautious and avoid chasing the stock at elevated levels.

The sharp decline attracted some investors, prompting technical buying and leading to a price rebound. On September 4, one of the top three investors bought the stock, betting on its oversold rebound. Currently, with the Bollinger Bands breaking above the middle band, the short-term trend looks favorable. APX's support level stands at AUD 0.98, with resistance at AUD 1.34. The current price of AUD 1.245 suggests relatively low resistance to further upward movement due to fewer trapped positions.

Lack of sense to the recent Australian market? Check out this dedicated analysis to boost your portfolio!

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Why hesitate to join the zero-risk competition? Optimize your understanding of moomoo product and your trading strategy in this competition, with a chance to get 10 shares of NVDA for free! 🎁