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Need 4 Speed Read - ASX Report - 02/12/22

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: 

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Trading Idea of the Day
 

ASX:GMG - Goodman Group Ltd (BULLISH - long term & BEARISH - short term)

  • Key levels on the chart - consider taking trades from key support/resistance zones.
  • Goodman Group is on track for operating earnings per share (EPS) growth of 11% in FY23.
  • Within the recent 1Q FY23 update management flagged a 'patient and cautious' approach, especially given the uncertain economic outlook.
  • Ord Minnett retains a Hold rating and $22 target price but flags early signs of development margins moderating from unsustainably high levels.

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: US cannabis sales jump 12.7%

Podcast of the Day: Michael Loukas of TrueMark on why diversification isn’t always key
 

APAC Daily Report



 

Market Snapshot & Highlights as of 8:00am AEDT


EXPECTATIONS: Energy HIGHER (higher oil prices) & Materials HIGHER on overall commodity 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 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.