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Need 4 Speed Read - ASX Report - 06/12/22

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:HVN - Harvey Norman Holdings Ltd (BULLISH - long term & BEARISH - short term)

  • Key levels on the chart - consider taking trades from key support/resistance zones.
  • Harvey Norman's aggregated quarterly sales were negatively affected by depreciation in the euro, pound and NZ$
  • The group flagged a major expansion into the Malaysian market, with plans to grow there from 28 to 80 stores by 2028.
  • Consensus is Moderate Buy.

  • Based on Morningstar’s fair value of $4.89 the stock appears to be undervalued.

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: Global X Social Media Index ETF underperforms as ad spend falls

Podcast of the Day: Investment educator Brian Feroldi’s three principles for long-term investing
 

APAC Daily Report


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

Market Snapshot & Highlights as of 8:00am AEDT


EXPECTATIONS: Energy LOWER (lower oil prices) & Materials LOWER on overall 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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