Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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 - 22/11/22

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 - @Azeem__Sheriff 
Tina Teng - @Tinateng_CMC
CMC Markets ANZ - @CMCMarketsAUSNZ
CMC Markets Singapore - @CMCMarketsSG
CMC Markets Canada - @CMCMarkets_CA

Trading Idea of the Day
 

ASX:FLT - Flight Centre Travel Group Ltd - BULLISH BIAS (long term) - BULLISH BIAS (short term)

  • Key levels on the chart - consider taking trades from key support/resistance zones.
  • Price is significantly undervalued and at a key support, a level not seen since the beginning of COVID.
  • The reopening and pent-up travel demand narrative is only gathering momentum, with FLT expecting a gradual recovery in FY23 followed by a 'larger scale recovery during FY24' as the world opens up even more.
  • Flight Centre's corporate travel segment has returned to pre-covid form based on their latest updates, contributing $58m to their underlying earnings. The company said corporate transaction levels are also back at pre-covid levels, with revenue at approximately 95% which is a positive sign for FY23 and shareholder expectations.
  • Leisure bookings remain subdued, impacted by the 'lack of competition and spare capacity. The leisure segment lags as outbound travel remains impacted by a lack of competition and capacity, leading to a lack of bookings available and abnormal prices.
  • Management expects revenue margins to remain below pre-covid levels over the forecast period but partially offset by cost margin improvements.

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: Berkshire, Bridgewater and Tiger expand positions in chip stocks 

Podcast of the Day: BlackRock’s Carolyn Weinberg on the democratising power of ETFs
 

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 LOWER (lower oil prices) & Materials LOWER on overall lower commodity 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.