Morning Bell 27 April

Between the Bells

Between the Bells
Morning Bell 27 April
Apr 27, 2021
Bell Direct

The Aussie market is set to open 0.1% higher. For the month of April, the Tech sector is up the most while Energy underperforms. 

 

What to watch: 

  • South32 (ASX:S32) doubled its cash in the March quarter while it reported record alumina from Brazil and Australian Manganese year to date. 
  • Bingo (ASX:BIN) agreed to a takeover by Macquarie (ASX:MGQ) for $3.45 per year, minus a $11.70 dividend. 
  • Perth exits its lockdown today and the Federal Government will review Australia’s COVID-19 vaccine rollout.
  • The Australian dollar is trading at its highest level since February this year, which is making our exports more expensive. 
  • Expect tax loss selling as the end of the financial year approaches. Selling to mount stocks that heavily underperformed, including The a2 Milk Company (ASX:A2M), Mesoblast (ASX: MSB), financial stocks IOOF (ASX:IFL) and Origin Energy (ASX:ORG), and energy companies AGL Energy (ASX:AGL) and Kogan (ASX:KGN). 
  • The most traded stocks from Bell Direct yesterday: Dicker Data (ASX:DDR), Van Eck Vectors Gold Miners ETF (ASX:GDX) and Galaxy Resources (ASX:GXY).

 

Trading Ideas: 

  • Doctor Care Anywhere (ASX:DOC) was restamped as a Bell Potter Buy stock with a $1.95 price target after it reported record revenue. 
  • Emeco Holdings (ASX:EHL) also reiterated as a Bell Potter Buy, with a $1.50 price target. 
  • Rhythm Biosciences (ASx:RHY), Loneer (ASX:INR) and Capral (ASX:CAA) are all giving off bullish charting signals according to Trading Central.