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Morning Bell 12 April

Jessica Amir
April 12, 2021

The Aussie share market is set to start the week higher. The futures are suggesting a gain of 0.1% which will rub out Friday’s fall.

US equities closed at new records at the weekend with almost half of the US population receiving their first vaccine.

What to watch today:

  • Vaccine news – Pressure has been put on ScoMo for when Australians will receive their first dose.
  • Economic news: New home sales data, Business and Consumer Confidence data and on Thursday, employment data is released for March.
  • Quarterly balances will be taking place – investors and fund managers will be buying heavily back into stocks that are depressed – like tech – given bond yields have eased from their year high.
  • Stocks that closed in bullish breakouts and made sizeable gains last week: EML Payments (ASX:EML), Afterpay (ASX:APT) and Imugene (ASX:IMU).
  • Iron ore stocks will be back in focus as one of the most traded stocks across our entire business last week was BHP.
  • The most traded stocks from Friday for our active trader desk, Bell Direct Advantage. They were Oneview Healthcare (ASX:ONE) Greenland Minerals (ASX:GGG) & 88 Energy (ASX:88E).

Trading ideas:

  • Immutep (ASX:IMM) was re-stamped as a Speculative Buy with an increased price target of $0.85 after the US FDA fast tracked its lead drug as a treatment for head and neck cancer.
  • Whitehaven Coal (ASX:WHC) had its Buy rating increased, with Bell Potter raising its target to $2.35 as the thermal coal price strengthened in the March quarter.
  • Gascoyne (ASX:GCY), Pact Group (ASX:PGH) and Proteomics International (ASX:PIQ) are all giving off bullish charting signals according to Trading Central.

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