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Trading Idea of the Day
ASX:CXO - Core Lithium Ltd - (NEUTRAL BIAS - long term & BEARISH BIAS - short term)
- Key levels on the chart - consider taking trades from key support/resistance zones.
- Goldman Sachs initiates a Sell rating on Core Lithium
- 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
OPTO For Investors Research
Article of the Day: Shell and Equinor boost their exposure to carbon capture tech
Podcast of the Day: The Lead-Lag Report’s Michael Gayed on this year’s treasury anomaly
APAC Daily Report
Market Snapshot & Highlights as of 8:00am AEDT
Global Markets Headlines
- Swiss central bank lifts interest rates again to counter ‘further spread of inflation (CNBC)
- ECB hikes rates by 50bps, sees significant increases ahead as it announces plan to shrink balance sheet (CNBC)
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)
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