Morning Bell 24 November

Jessica Amir
November 24, 2020

The ASX200 is eyeing a rise of 0.6% at the open. If it does rise at the open, it is likely to set another 9-month high.

AstraZeneca and Oxford University’s COVID-19 vaccines was deemed 70% effective. This 70% rose to 90% when patients received a half dose followed by a full dose of the vaccine. CSL began producing 30 million doses of the vaccine a few weeks ago.

President-elect Joe Biden earmarked former Federal Reserve Chair Janet Yellen as Treasury secretary. When she led the Fed from 2014 to 2018, rates were low and the S&P500 gained 60%.

What to watch today:

  • Keep an eye on Energy stocks today: UBS has Buy ratings on Origin Energy (ASX:ORG), Santos (ASX:STO), Woodside (ASX:WPL) and Worley Parsons (ASX:WOR).
  • National Storage REIT (ASX:NSR) and TechnologyOne (ASX:TNE) report results today.
  • Brickworks (ASX:BKW), Bravura Solutions (ASX:BVS), Mesoblast (ASX:MSB), Nanosonics (ASX:NAN) and Ramsay Health Care (ASX:RHC) hold their AGMs today.
  • RBA Deputy Governor will speak on monetary policy, he is expected to unveil how much bond buying the bank has been doing.

Local trading ideas:

  • Emergency services construction company, Johns Lyng Group (ASX:JLG) was upgraded as a Bell Potter Buy with an increased target of $3.60, implying 15% upside in a year.
  • Buy now pay later new entrant, Laybuy Group Holdings (ASX:LBY), was reiterated as a Bell Potter Buy with a $3.00 price target, implying 120% upside in a year. Bell Potter says LBY is a stock to watch as it continues to fly under the radar, despite increasing its merchant value by over 160% in a year, reducing its bad debts and increasing its transaction margin from -0.6% to 1.7%.
  • Whisper (ASX:WSP), Enero Group (ASX:EGG) and Harris Technology (ASX:HT8) are all showing bullish charting signals according to Trading Central.

Morning Bell 21 December

Jessica Amir
December 21, 2020

Weekly Wrap 18 December

Jessica Amir
December 18, 2020

Morning Bell 18 December

Jessica Amir
December 18, 2020

Morning Bell 17 December

Jessica Amir
December 17, 2020

Morning Bell 16 December

Jessica Amir
December 16, 2020

Morning Bell 15 December

Jessica Amir
December 15, 2020

Morning Bell 14 December

Jessica Amir
December 14, 2020

Weekly Wrap 11 December

Jessica Amir
December 11, 2020

Morning Bell 11 December

Jessica Amir
December 11, 2020

Morning Bell 10 December

Jessica Amir
December 10, 2020