What Worked Australia - 01 Apr 2016 - Short term momentum reverting, long term doing better

What Worked – 1 month momentum continued its reversion this week, while the longer term 12 month momentum signal came through strong. Value was off once again, but nowhere near the levels of last week. On the short term reversal front, Evolution Mining (EVN, +1.7%), Sirtex Medical (SRX, +2.4%) and Caltex Australia (CTX, +1.1%) all finished up on the back of poor returns for the last month, while SIMS Metal (SGM, +0.6%), Premier Investments (PMV, -5.7%) and Worleyparsons (WOR, -9.1%) all reverted to finish down.

On the long term momentum front, Origin Energy (ORG, -2.9%), Ansell (ANN, -6.2%) and ANZ Bank (ANZ, -4.7%) all weakened further off a poor run over the last year, and Regis Resources (RRL, +2.3%) and CIMIC Group (CIM, +0.9%) increased returns this week of a solid previous 12 months.

Who Moved – Volumes still remained weak with only 3 names posting higher than normal volumes this week. On the negative side of things, Premier Investments (PMY, -5.7%) and Sigma Pharma (SIP, -0.5%) finished weaker, while Recall Holdings (REC, +8.3%) closed up on stronger than normal volumes.


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