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Need 4 Speed - ASX Report - 03/11/22

ASX Trading

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 - @Azeem__Sheriff 
Tina Teng - @Tinateng_CMC
CMC Markets ANZ - @CMCMarketsAUSNZ
CMC Markets Singapore - @CMCMarketsSG
CMC Markets Canada - @CMCMarkets_CA

Trading Idea of the Day


ASX:WOW - Woolworths Group Ltd - BULLISH BIAS

  • Key levels on the chart - consider taking trades from key support/resistance zones.
  • Company is a food/groceries company and the overall business is super strong and generally tends to weather a recessionary environment quite well due to its pricing power, ability to pass on costs to customers.

  • Blue chip company with large market capitalisation.

  • 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, with potential capital growth.

  • Company also pays a relatively stable/decent dividend of around 2.5%

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: Cathie Wood buys 185,000 Robinhood shares

Podcast of the Day: Doomberg on Nord Stream sabotage and monetary mayhem

APAC Daily Report


Click here to access our daily APAC report, prepared by my fellow market analyst @TinaTeng_CMC

Market Snapshot & Highlights as of 7:30am AEDT


EXPECTATIONS: Energy HIGHER (higher oil prices) & Materials LOWER on overall higher base metal prices.

Global Markets Headlines
 

(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)


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