X

Select the account you'd like to open

Newsletter

Need 4 Speed - ASX Report - 20/10/22

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 NextGen platform and follow us on Twitter: 

Azeem Sheriff -  
CMC Markets - 

Trading Idea of the Day

NYSE:DUOL - Duolingo Inc - BULLISH BIAS (long term)

  • Key levels on the chart - consider taking trades from key support/resistance zones.
  • Nearly 50 million monthly active users engage with Duolingo since Q2 2022. The company made its IPO in 2021, and management has set a goal to make learning available and fulfilling via their technology.
  • The total language market is estimated to be $60b per year, and is still mostly taught offline. However, management expects to see a shift to online learning in the future.
  • The company has recently re-entered the Chinese market, which is the largest English language learning opportunity. Although the Chinese market present difficulty in monetization and the possibility of change in the current political climate, if Duolingo is able to penetrate deep into the Chinese market, it opens up opportunity for a large increase in paying subscribers.
  • With 3.3 million paying subscribers, the company has made $306 million in the last 12 months, and expects around $365 million in revenue for 2023.
  • The company will be focused on language in the next 3 to 5 years, but is testing their Math app as a new opportunity. The new app is estimated to be put in beta sometime in 2022.

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: Cannabis reform lifts Amyris, Jazz Pharma and Innovative Industrial
Podcast of the Day: Market strategist Kiril Sokoloff’s thematic investment radar

APAC Daily Report

Market Snapshot & Highlights as of 8am AEDT

EXPECTATIONS: Energy HIGHER (higher oil) & 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)

 

 


Disclaimer: CMC Markets Singapore may provide or make available research analysis or reports prepared or issued by entities within the CMC Markets group of companies, located and regulated under the laws in a foreign jurisdictions, in accordance with regulation 32C of the Financial Advisers Regulations. Where such information is issued or promulgated to a person who is not an accredited investor, expert investor or institutional investor, CMC Markets Singapore accepts legal responsibility for the contents of the analysis or report, to the extent required by law. Recipients of such information who are resident in Singapore may contact CMC Markets Singapore on 1800 559 6000 for any matters arising from or in connection with the information.

Sign up for market update emails