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Morning Bell 9 April

Jessica Amir
April 9, 2021

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).

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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