Skip to main content

Morning Bell 22 March

Jessica Amir
March 22, 2021

The Aussie market is expected to have a soggy start the week, with the futures down 0.2%.

In the US, Tech stocks came back in favour while blue chip stocks were sold down. Investors took profits from banks following the US Central Bank deciding not to extend a leverage ratio for banks.

What to watch today:

  • A quiet week economically: manufacturing data and services sector data out for March on Wednesday.
  • Following the US Tech rally: keep an eye on Afterpay (ASX:APT) & Zip (ASX:Z1P). They’re in downtrends but small cap IOU (ASX:IOU) added the Tech index from today – is breaking out. Also in the larger caps, it looks like Xero (ASX:XRO) looks like it’s attempting to break out.
  • The vaccine rollout – 6 million Aussies will eligible for the jab from today, 1,000 GP clinics will offer the vaccine.
  • The TGA approved AstraZeneca’s vaccine to be produced by CSL. So keep your eyes on CSL (ASX:CSL) even though they are in a downtrend
  • Distressed Crown Resorts (ASX:CWN) received an $8 billion takeover offer valuing its shares at $11.85 a piece. On Friday CWN closed at $9.86. So now there’s a line-up of retail traders rushing to buy the stock now.
  1. Separately, commodity stocks will be back in focus. The Oil price jumped 2% to $61.42. Gold and Silver up 0.5%. While Iron Ore continues to head south.

Trading ideas:

  • Nickel company Western Areas Ltd (ASX:WSA) was moved from a Hold to a Buy with a $2.45 target.
  • Bell Potter initiated coverage of gas supplier Central Petroleum Ltd (ASX:CTP) with a $0.23 target.
  • People Infrastructure (ASX:PPE), Hearts & Minds Investments (ASX:HM1) and Teaminvest Private Ltd (ASX:TIP) are all giving off bullish charting signals according to Trading Central.

Weekly Wrap 16 February

Sophia Mavridis
February 16, 2024

Morning Bell 16 February

Sam Kanaan
February 16, 2024

Morning Bell 15 February

Sam Kanaan
February 15, 2024

Morning Bell 14 February

Sam Kanaan
February 14, 2024

Morning Bell 13 February

Grady Wulff
February 13, 2024

Morning Bell 12 February

Grady Wulff
February 12, 2024

Weekly Wrap 9 February

Grady Wulff
February 9, 2024

Morning Bell 9 February

Sam Kanaan
February 9, 2024

Morning Bell 8 February

Sam Kanaan
February 8, 2024