X

Select the account you'd like to open

Newsletter

Need 4 Speed Read - ASX Report - 20/12/22

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 -  
Tina Teng -
CMC Markets ANZ - 
CMC Markets Singapore -
CMC Markets Canada - 

Trading Idea of the Day
 

ASX:ABC - Adbri Ltd - (BULLISH - long term & BEARISH - short term)

  • Key levels on the chart - consider taking trades from key support/resistance zones. 
  • Bearish divergence on RSI (monthly chart).
  • MACD suggesting bearish momentum but slowing down.
  • Price is at a major key support level not seen since 2009 (21yrs).
  • Morgan Stanley says Adbri is a  stock most likely to suffer due to weather problems, unless this changes in the near term.
  • Morgan Stanley expects market conditions for construction to deteriorate further in 2023.
  • Morgan Stanley issued the following price target: Adbri: $1.60 (“expected to range trade until we see evidence of earnings stability and certainty on a long-run CEO.”)

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: What does a $3.6bn stock sale mean for Tesla’s future?

Podcast of the Day: Pedro Palandrani on Global X’s Long-Term Approach to Thematic Investing
 

APAC Daily Report



 

Market Snapshot & Highlights as of 8:00am AEDT


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