Between the Bells

Morning Bell 21 April


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The Aussie share market is set to open lower, with the futures suggesting the market will fall about 1.23%, to 6911 points. This mirrors Wall Street overnight as US equities fell. 

What to watch:

  • There are concerns for the Trans-Tasman travel bubble after an Auckland airport employee who worked cleaning planes, has tested positive for COVID- 19, despite being fully vaccinated. Amid concerns, keep an eye on travel stocks such as Qantas Airways (ASX:QAN) and Webjet (ASX:WEB). 
  • The oil price fell 1.44% to US$62.46, so it’s worth watching energy producers including AGL Energy (ASX:AGL), Woodside Petroleum (ASX:WPL) and Santos (ASX:STO). 
  • The gold price increased by 0.5% so keep watch of Evolution Mining (ASX:EVN). 
  • The most traded stocks for Bell Direct yesterday. They were: CSL (ASX:CSL), Lynas Rare Earths (ASX:LYC) and Vanguard MSCI Index International Shares ETF (ASX:VGS).

Trading ideas:

  • Bell Potter has a Buy rating on Senex Energy (ASX:SXY) as they approach the next growth chapter. Yesterday Senex Energy closed at $3.71 and Bell Potter has increased its price target to $3.75.
  • Bell Potter has changed their recommendation for Altium (ASX:ALU) from a Hold to a Sell. ALU have been heavily discounting the price of a perpetual license by around 40% and this is likely to have a negative short-term impact on revenue. Bell Potter have decreased their price target by 4% to $27.50.
  • Bell Potter has reiterated their Buy recommendation for EROAD (ASX:ERD), supported by positive unit economics, constant revenue growth and growing sales momentum in Australia and New Zealand. 
  • JB Hi Fi (ASX:JBH), Rural Funds Group (ASX:RFF), and RPM Automotive (ASX:RPM) are all giving off bullish charting signals according to Trading Central. 
...more
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Between the BellsBy Bell Direct


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