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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
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
Market Snapshot & Highlights as of 8:00am AEDT
Global Markets Headlines
- FTX spokesman Kevin O’Leary says he lost his $15 million payday from crypto firm (CNBC)
- FTC sues to block Microsoft’s acquisition of Activision Blizzard (CNBC)
- Retail traders think stocks will bottom in 2023 — and they plan to load up on Big Tech (CNBC)
- Tech layoffs in Southeast Asia mount as unprofitable startups seek to extend their runways (CNBC)
- Russian oil price cap, EU sanctions cause crude tanker bottleneck (CNBC)
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)
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