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 -
Tina Teng -
CMC Markets ANZ -
CMC Markets Singapore -
CMC Markets Canada -
Trading Idea of the Day
ASX:MPL - Medibank Private Ltd - BULLISH BIAS
- Key levels on the chart - consider taking trades from key support/resistance zones.
Recent cyber attack saw the share price drop around 20%, after CEO confirmed breach of customer data but also confirmed FY 23 forward guidance on customer outlook reduced making this stock quite undervalued.
Company is an insurance company and the overall business is still quite strong and generally tends to weather a recessionary environment quite well due to its pricing power, ability to pass on costs to customers.
The stock offers a great technical setup on a weekly chart, playing the range and nearing the bottom of that range, great risk to reward for any bullish traders/investors.
Company also pays a relatively stable/decent dividend of around 4.5%
ASX & Economic Key Events
OPTO For Investors Research
Article of the Day: Can Aston Martin stock reverse its downtrend amid losses?
Podcast of the Day: Doomberg on Nord Stream sabotage and monetary mayhem
APAC Daily Report
Market Snapshot & Highlights as of 7:30am AEDT
Global Markets Headlines
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)
Disclaimer: CMC Markets is an order execution-only service. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.