27th April 2021
Morning Bell - Jessica Amir
The Aussie market is set to open 0.1% higher. For the month of April, the Tech sector is up the most while Energy underperforms.
What to watch:
- South32 (ASX:S32) doubled its cash in the March quarter while it reported record alumina from Brazil and Australian Manganese year to date.
- Bingo (ASX:BIN) agreed to a takeover by Macquarie (ASX:MGQ) for $3.45 per year, minus a $11.70 dividend.
- Perth exits its lockdown today and the Federal Government will review Australia’s COVID-19 vaccine rollout.
- The Australian dollar is trading at its highest level since February this year, which is making our exports more expensive.
- Expect tax loss selling as the end of the financial year approaches. Selling to mount stocks that heavily underperformed, including The a2 Milk Company (ASX:A2M), Mesoblast (ASX: MSB), financial stocks IOOF (ASX:IFL) and Origin Energy (ASX:ORG), and energy companies AGL Energy (ASX:AGL) and Kogan (ASX:KGN).
- The most traded stocks from Bell Direct yesterday: Dicker Data (ASX:DDR), Van Eck Vectors Gold Miners ETF (ASX:GDX) and Galaxy Resources (ASX:GXY).
Trading Ideas:
- Doctor Care Anywhere (ASX:DOC) was restamped as a Bell Potter Buy stock with a $1.95 price target after it reported record revenue.
- Emeco Holdings (ASX:EHL) also reiterated as a Bell Potter Buy, with a $1.50 price target.
- Rhythm Biosciences (ASX:RHY), Loneer (ASX:INR) and Capral (ASX:CAA) are all giving off bullish charting signals according to Trading Central.