G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst!
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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
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
Market Snapshot & Highlights as of 7:30am AEDT
Global Markets Headlines
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)