Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

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: 

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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 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.