Market wraps 9th April 2021
Morning Bell - Jessica Amir
The Aussie share market is in a bullish breakout uptrend, just a 3% puff away from the record high – hit in February 2020.
Overnight US tech stocks put their foot on the gas – with investors buying back into stay at home economy stocks .
What to watch today:
- Local stay at home economy tech stocks are set to thrive. Keep a watch on EML Payments (ASX:EML) which has already gained 17% this week and Afterpay (ASX:APT) which has lifted 14%.
- Gold trades at a one-month high. Keep an eye on Gold stocks like Silver Lake Resources (ASX:SLR), Northern Star (ASX:NST) and Ramelius Resources (ASX:RMS).
- Services Sector index data is out – tipped to show the sector grew in March as restrictions continued to ease and employment is a pre-COVID-19 levels.
- Building permits are out – so keep your eye on building and construction stocks that are trading at 12 month highs like BKW, CSR, ABC and the like
- The RBA will realise their financial stability review report.
- Keep an eye on the most traded stocks from yesterday for our active trader desk, Bell Direct Advantage. They were: 88 Energy (ASX:88E), Province Resources (ASX:PRL) and Red Sky Energy (ASX:ROG).
- Domino's Pizza (ASX:DMP) was re-stamped as a Bell Potter Buy with a $122 target, as German sales ramped up, while Bell Potter also sees Japan’s sales growing fuelled by half price takeaway orders and no minimum deliveries.
- Bullish charting signals have been identified in Afterpay (ASX:APT), Emeco (ASX:EHL) and Silver Lake Resource (ASX:SLR) according to Trading Central.