ASX Top 10 Daily Momentum Stocks 8 May 2023

Strongest Quarterly Momentum ASX Stocks

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Christopher Hall
Christopher Hall
Stockbroking, investment manager and adviser since 2005. No advice provided on Bizfeed.

Which companies are the strongest on the ASX right now?

Today’s top ASX Momentum stock WA1 Resources has increased + 10.7% today, + 25.7% for the week and +67.99% for the month.

WA1 is a mining companies based in Western Australia. It explores for iron oxide, copper, and gold deposits. The company’s flagship project is the 100% owned West Arunta project comprising three granted exploration tenements covering an area of approximately 267 square kilometers
located in the West Arunta Orogen.

In every market rally, the best performing shares come from companies that consistently outperform. This continued strength of a company’s share price is known as ‘momentum’.

These momentum leading shares are often the first stocks to rally and then continue to rise faster than the rest of the market.

Monitoring the ASX Top 10 Momentum stocks provides valuable insights into the current market leaders and finding today’s best trading opportunities. This daily list is generated by Finer Market Points, a tool for investors and traders for market data and trading insights. When a company consistently appears on this list for multiple consecutive days and weeks, it is a clear sign of being a true market leader.

By keeping an eye on this list of ASX top momentum stocks, investors can find the strongest trends in the market. This list often reports multiple companies from the same sector or industry, which indicates a leading theme. These themes can range from Lithium and Uranium stocks to Construction Companies.

Learning from the best traders in history we know that every market cycle has a leading and dominant theme that produces the most lucrative trading opportunities. All market-leading themes start with strong momentum companies that are supported by companies in the same industry and together their prices rise faster than the rest of the market.

The companies listed below are the Top 10 ASX listed companies that have shown the strongest momentum over the last quarter, and may be the next market leaders.

CompanyCode
Wa1ResourcesltdWA1
4Dmedical Limited4DX
Impedimed LimitedIPD
Oneview HealthcareONE
Encounter ResourcesENR
Future BatteryFBM
Lindian ResourcesLIN
Electro Optic Sys.EOS
Rox ResourcesRXL
Resolute MiningRSG
Top 10 Momentum Stocks

By keeping an eye on these companies, investors can identify the next big winners in the market. It is important to note that past performance is not a guarantee of future success, although strong momentum is often a good indicator of a company’s potential.

Each week we discuss the ASX’s Top 30 Momentum and Top 30 Launch Pad shares here on Finer Market Points:

Finer Market Points publishes ASX market data to connect leading market themes and top performing companies for better trading.

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