Begin with the question
A chart tells you that something has changed. It cannot, on its own, explain why. Before turning a move into a thesis, ask what the company has said, what the market expected and whether the information is genuinely new.
Momentum’s research approach examines these questions alongside price behaviour to establish the basis of an opportunity and the uncertainty that remains.
Separate the evidence from the interpretation
A company announcement is evidence. An expectation about what the announcement means for future demand is an interpretation. Both can matter, but they should not be presented as the same thing.
A research note should identify its sources, explain the interpretation and acknowledge credible alternatives. Missing or outdated information should be explicitly recorded.
Ask what is already reflected in price
A positive development does not automatically create an attractive setup. The market may have anticipated it, or the price may have moved before the evidence was available to you.
That is why Momentum places research alongside the price outlook. Understanding the business story and understanding the proposed trade are related tasks, with different questions to answer.
Keep the original reasoning
Write down what mattered at the time: the catalyst, the supporting evidence, the opposing view and what would change your mind. A short, specific record is easier to review than a broad claim that a company looks strong.
When the outcome is known, return to that original reasoning. The useful question is whether the process made sense with the information available—not whether hindsight can explain the result.