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Morning Bell 14 April

Jessica Amir
April 14, 2021

US stocks closed mostly higher as bond yields fell, which is supportive of equities. The Aussie market is expected to lift 0.3% or 19 points at the open.

What to watch today:

  • Tech stocks are expected to shine the most as bonds yield fell from their 12-month high to 1.71%, making tech stocks look far more attractive.
  • Zip (ASX:Z1P) will be traded a lot today, as it jumped 17% yesterday after reporting another strong quarter – with revenue, merchants and customers all rising by 10%-20%.
  • Afterpay (ASX:APT) is another one to watch, rising 3% yesterday and is likely to lift further in the short term.
  • Consumer confidence is released for April which is expected to be positive as employment is at pre-pandemic levels.
  • The most traded stocks from yesterday . For our active trader desk, Bell Direct Advantage they were: Magnetite Mines (ASX:MGT), Delorean (ASX:DEL) and 88 Energy (ASX:88E).

Trading ideas:

  • Online luxury fashion website Cettire (ASX:CTT) which sells designer brands like Givenchy, Chanel and Valentino was initiated as a Bell Potter Buy with a $1.90 target.
  • The rival company to NBN, Uniti Group (ASX:UWL) had it Buy rating upgraded by Bell Potter, with a new $2.85 target as its network revenue is likely to increase.
  • Uniti Group (ASX:UWL), SenSen Network (ASX:SNS) and Pushpay Holdings (ASX:PPH) are all giving off bullish charting signals according to Trading Central.

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