Between the Bells

Morning Bell 9 April


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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: 

  1. 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%.
  2. 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).
  3. 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.
  4. 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 
  5. The RBA will realise their financial stability review report. 
  6. 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).

 

Trading ideas: 

  • 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.
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Between the BellsBy Bell Direct


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