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Need 4 Speed Read - ASX Report - 09/12/22

ASX trading

G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst! 

For real-time up-to-date data/news/research/ideas/strategies, check out our insights panel on the CMC Markets Invest platform and follow us on Twitter: 

Azeem Sheriff - @Azeem__Sheriff 
Tina Teng - @Tinateng_CMC
CMC Markets ANZ - @CMCMarketsAUSNZ
CMC Markets Singapore - @CMCMarketsSG
CMC Markets Canada - @CMCMarkets_CA

Trading Idea of the Day
 

ASX:CXO - Core Lithium Ltd - (BULLISH - long term & BEARISH - short term)

  • Key levels on the chart - consider taking trades from key support/resistance zones. 
  • Goldman Sachs initiates a Sell rating on Core Lithium
  • Core Lithium shares are down around -6.0% on Wednesday
  • The investment bank expects lithium prices to begin falling in the second half of 2023.
  • Chinese EV subsidies have pulled forward battery demand by at least 12-24 months, according to Goldman. The team believes the battery maker overcapacity, on the back of accelerated capacity build-out amid a decelerating growth of new energy vehicles sales will eventually weigh on lithium prices," the analysts said.

ASX & Economic Key Events

ASX Key Events Calendar (TODAY)

Economic Key Events (TODAY)


Economic Key Events (YESTERDAY)

OPTO For Investors Research


Article of the Day: GameStop share price gains despite earnings miss and cash burn

Podcast of the Day: Champel Capital’s Amir Weitmann on investing in deep tech 
 

APAC Daily Report


Click here to access our daily APAC report, prepared by my fellow market analyst @TinaTeng_CMC
 

Market Snapshot & Highlights as of 8:00am AEDT


EXPECTATIONS: Energy LOWER (lower oil prices) & Materials HIGHER on overall base metal prices.

Global Markets Headlines
 

(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)


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