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Need 4 Speed Read - ASX Report - 09/11/22

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:PLS - Pilbara Minerals Ltd - BEARISH BIAS (short term)

  • Key levels on the chart - consider taking trades from key support/resistance zones.
  • Lithium carbonate at all time high record and continues to go higher
  • Macquarie Bank has upgraded lithium stocks higher, adding to positivity
  • On flip side, technicals suggesting a potential short term downward movement based on RSI / momentum slowing down (something to monitor).
  • Price is also at a key weekly resistance, failing to break and forming a triple top (bearish chart pattern)

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: Is Mark Zuckerberg’s metaverse vision burdening Meta shares?

Podcast of the Day: Portfolio manager Michael Kao’s dollar wrecking ball theory

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 HIGHER 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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