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Need 4 Speed Read - ASX Report - 15/12/22

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
 

NASDAQ:TSM - Taiwan Semiconductor Manufacturing Company - (BULLISH - long term & BULLISH - short term)

  • Key levels on the chart - consider taking trades from key support/resistance zones. 
  • Taiwan Semiconductor Manufacturing (NYSE:TSM) is set to make history with one of the largest foreign investments in the United States. The company will announce plans on Tuesday to build its second chip plant in Arizona, increasing its investment in the state to $40B.
  • Warren Buffet recently took a major position in TSMC in a bet that the world cannot do without silicon.
  • Price trading near key weekly support of $75
  • Price is trading near the 200-moving day average (red line).
  • There is positive momentum on the MACD indicator, indicating bullish price action momentum.
  • RSI is currently in the middle of the range which indicates neither overbought nor oversold, but if you're bullish, can wait a little bit more until RSI is more in the oversold (<50) region for additional confirmation.

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: Will content moderation scrutiny weigh on Meta’s share price?

Podcast of the Day: The Lead-Lag Report’s Michael Gayed on this year’s treasury anomaly
 

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 HIGHER (higher oil prices) & Materials LOWER on overall higher 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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