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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 -  
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CMC Markets ANZ - 
CMC Markets Singapore -
CMC Markets Canada - 

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


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)


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.

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