Check out the trading idea of the week below!
Trading Idea of the Week
(SEK - Seek Ltd)
- BULLISH BIAS
- Key levels on the chart - consider taking trades from key support/resistance levels
- Delivered better than expected revenue and earnings growth in FY 22, despite its retreat in share price
- Expecting to see a benefit in an exceptionally tight employment market.
- As flow-on effects from rate rises start to kick in (3-month delay usually), we will see the unemployment rate start to uptick, loosening the labour market.
- If and when the unemployment rate reaches 4%, we can expect job ads and Seek to perform strongly as Aussies seek to fill that employment gap