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ASX update – Week 12 has opened with another brutal drop, though the -1.6% landslide we were staring down when I was recording the Market Open this morning has subsided a little to lunchtime. That said, things are still very much in the red, with the bourse nearly 70 points weaker at time of writing.
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Now, onto this column’s focus. With more than seven million daily users on the HotCopper forums, every discussion can move markets – which is why getting in front of those red-hot trends is key for every trader worth their salt.
In this daily HotCopper Trends column, we break down the top three Oz stocks through each trading day, and why they’ve drawn a focus intraday.
First up in trends, Amplia Therapeutics (ASX:ATX) has been on a bit of a breakaway discussion-wise. It’s good news on the headline, with the company reporting that it’s landed significant improvements in survival rates from its ACCENT trial for narmafotinib in advanced pancreatic cancer.
It’s clearly a huge win, and markets are treating it as such – by 1PM on Monday, around lunchtime trading, ATX shares are +87% higher.
That bump (which only adds to the +170% YTD) leaves shares at 21c/ea.
Elsewhere, Alligator Energy (ASX:AGE) has headed the other way price-wise, despite an interesting update regarding its recent Samphire FRT tests.
Alligator (who is a Market Link client, I’d flag here) officially started uranium extraction at its uranium project this week, with early Wellfield instruction and flow rates already “performing in line with expectations.”
The energy company didn’t manage to avoid what has been a particularly brutal ASX selling day, however, and is now hovering at 3.5cps mid-arvo.
Similar story for the last of the top HotCopper forum topics today, Tivan (ASX:TVN), which has shaved some -5% in market cap as it struggles to defy the red Monday. And no, it’s news that the Speewah Fluorite Project has been included in today’s “Joint Fact Sheet” by Japan and the U.S. didn’t help much.
For price-action, TVN has dropped to 29cps.
There are some pretty clear losers across the wider sectors, too, with Materials down -3% and Industrials shaving -1%. Health care is +0.5% today.
Probably also worth noting is Energy is holding on, just -0.05% weaker.
That’s Monday’s HotCopper Market Trends, I’m Isaac McIntyre – see you for close.
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