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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.
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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.
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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.
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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.
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Company also pays a relatively stable/decent dividend of around 4.5%
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: 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
EXPECTATIONS: Energy HIGHER (higher oil prices) & Materials HIGHER on overall higher base metal prices.
Global Markets Headlines
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The Fed is expected to raise rates by three-quarters of a point and signal it could slow the pace (CNBC)
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‘We’re not against profits,’ White House advisor says after Biden’s tax threats on oil companies (CNBC)
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Twitter reportedly limits employee access to content-moderation tools as midterm election nears (CNBC)
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Oil CEOs warn this winter’s energy crisis will be nothing compared to the next (CNBC)
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SpaceX launches Falcon Heavy, the world’s most powerful rocket, on Space Force mission (CNBC)
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Bank of England sells £750 million worth of bonds at first QE unwind auction (CNBC)
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Britain’s new PM is a fan of crypto. There are hopes he’ll give the industry a boost (CNBC)
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Elon Musk Wants More Paying Twitter Users, Hinting at $8 a Month for Verified Accounts (WSJ)
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)
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