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Need 4 Speed Read - ASX Report - 15/12/22

ASX trading

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
 

NASDAQ:TSM - Taiwan Semiconductor Manufacturing Company - (BULLISH - long term & BULLISH - short term)

  • Key levels on the chart - consider taking trades from key support/resistance zones. 
  • Taiwan Semiconductor Manufacturing (NYSE:TSM) is set to make history with one of the largest foreign investments in the United States. The company will announce plans on Tuesday to build its second chip plant in Arizona, increasing its investment in the state to $40B.
  • Warren Buffet recently took a major position in TSMC in a bet that the world cannot do without silicon.
  • Price trading near key weekly support of $75
  • Price is trading near the 200-moving day average (red line).
  • There is positive momentum on the MACD indicator, indicating bullish price action momentum.
  • RSI is currently in the middle of the range which indicates neither overbought nor oversold, but if you're bullish, can wait a little bit more until RSI is more in the oversold (<50) region for additional confirmation.

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: Will content moderation scrutiny weigh on Meta’s share price?

Podcast of the Day: The Lead-Lag Report’s Michael Gayed on this year’s treasury anomaly
 

APAC Daily Report



 

Market Snapshot & Highlights as of 8:00am AEDT


EXPECTATIONS: Energy HIGHER (higher oil prices) & Materials LOWER 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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