G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst!
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Azeem Sheriff - @Azeem__Sheriff
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Trading Idea of the Day
NYSE:DUOL - Duolingo Inc - BULLISH BIAS
- Key levels on the chart - consider taking trades from key support/resistance zones.
- The company has recently re-entered the Chinese market, which is the largest English language learning opportunity.
- Although the Chinese market presents difficulty in monetisation and the possibility of change in the current political climate.
- If Duolingo is able to penetrate deep into the Chinese market, it opens up an opportunity for a large increase in paying subscribers.
- Given the company’s increasing presence in core markets and opportunities for further revenue generation through monetizing their upcoming Math app, the company should continue to enjoy comfortable growth over the coming years, solidifying its place as an educational institution.
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: Albemarle, Ganfeng, AMTE Power: Which stock is ahead in the lithium battery race?
Podcast of the Day: Investment educator Brian Feroldi’s three principles for long-term investing
APAC Daily Report
Click here to access our daily APAC report, prepared by my fellow market analyst @TinaTeng_CMC
Market Snapshot & Highlights as of 8:00am AEDT
EXPECTATIONS: Energy HIGHER (higher oil prices) & Materials HIGHER on overall higher precious metal prices.
Global Markets Headlines
- Wholesale prices rose 0.2% in October, less than expected, as inflation eases (CNBC)
- Alphabet must cut headcount and trim costs, activist investor TCI says (CNBC)
- G-20 nations to condemn Russia’s Ukraine invasion as Foreign Minister Lavrov watches on (CNBC)
- Biden sees no need for ‘a new Cold War’ with China after three-hour meeting with Xi Jinping (CNBC)
- FTX says it could have over 1 million creditors in new bankruptcy filing (CNBC)
- Amazon reportedly plans to lay off about 10,000 employees starting this week (CNBC)
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)
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