Morning Bell 2 June

Between the Bells

Between the Bells
Morning Bell 2 June
Jun 02, 2021
Bell Direct

The Aussie share market is set to open higher, with the futures suggesting the market will rise 0.2%. 

 

What to watch today: 

  • The 15 day moving average has just nudged above the 30 day moving average. This indicates a technical uptrend is forming. But, as the moving averages lines are virtually on top of each other, the market could go either way from here. 
  • In economic news, GDP data will be released today. 
  • The RBA forecasts GDP for the full year to be 4.75%. Banks expect unemployment to fall to 5% this year. Bond yields will likely rise. 
  • Iron ore price rose 4.1%, heading back to its all time high. Watch Mineral Resources (ASX:MIN). 
  • Most traded stocks by Bell Direct clients yesterday: Fortescue Metals (ASX:FMG) & Magnetite Mines (ASX:MGT).

 

Trading Ideas: 

  • GenusPlus Group (ASX:GNP) had its price target upgraded by Bell Potter, with a new $1.25 target, following yesterday’s 6% jump.
  • BUBs Australia (ASX:BUB), Ava Risk Group (ASX:AVA) Atomos (ASX:AMS) are all giving off bullish charting signals according to Trading Central.