Check out the trading idea of the week below!
Trading Idea of the Week
(SEK - Seek Ltd)
- BULLISH BIAS
- Key levels on the chart - consider taking trades from key support/resistance levels
- Delivered better than expected revenue and earnings growth in FY 22, despite its retreat in share price
- Expecting to see a benefit in an exceptionally tight employment market.
- As flow-on effects from rate rises start to kick in (3-month delay usually), we will see the unemployment rate start to uptick, loosening the labour market.
- If and when the unemployment rate reaches 4%, we can expect job ads and Seek to perform strongly as Aussies seek to fill that employment gap
Disclaimer: CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.