Skip to main content

Morning Bell 17 May

Jessica Amir
May 17, 2021

The Aussie share market is set to open higher, with the futures suggesting a 0.7% gain.

Investors continue to buy into tech stocks, after last weeks pull back.

What to watch today:

  • Watch Tech stocks: Afterpay (ASX:APT), Xero (ASX:XRO) and Seek (ASX:SEK).
  • The Iron Ore price continues to pull back. Watch Fortescue Metals Group (ASX:FMG), Magnetite Mines (ASX:MGT), Mineral Resources (ASX:MIN), BCI Minerals (ASX:BCI), and Champion Iron (ASX:CIA).
  • Incitec Pivot Limited (ASX:IPL), Temple & Webster Group  (ASX:TPW) and Elders (ASX:ELD) are set to report today.
  • This week: RBA meeting minutes to be released on Tuesday and Consumer Confidence released on Wednesday. Watch JB Hi-Fi (ASX:JBH), Afterpay (ASX:APT), Harvey Norman (ASX:HVN) and Breville Group (ASX:BRG). In addition, unemployment data will be released on Thursday and April retail sales will be released on Friday.
  • Most traded stocks from Friday included Xero (ASX:XRO) and Woodside Petroleum (ASX:WPL).

Trading Ideas:

  • Bell Potter have reiterated a speculative Buy recommendation on Avita Medical (ASX:AVH), dropping their price target to $10.50.
  • Nick Scali (ASX:NCK), Ansell (ASX:ANN) and Integral Diagnostics (ASX:IDX) are all giving off bullish charting signals according to Trading Central.