Market wraps 15th April 2021

Morning Bell - Jessica Amir

Aussie share market is in an uptrend, hitting a new 13 month high yesterday. All eyes will be on tech stocks today.

What to watch today: 

  • Zip (ASX:Z1P) is one to watch today as yesterday Citi stamped the stock as buy with a $11.30 target. The company entered into trading halt pending a capital raising.
  • Qantas (ASX:QAN) to get back to 90% capacity in fourth quarter of this year, compared to 25% in mid-2020. Jetstar also reach 120% pre-COVID-19 Domestic Capacity - Qantas 107% in FY22.
  • Michael Hill (ASX:MHJ) looks set for a rally after reporting a shiny quarterly report – digital sales rose 69% and store sales rose 16%.
  • 35,000 people are expected to have gained jobs last month, with unemployment expected to fall to 5.7%.
  • The most traded stocks from yesterday. For our active trader desk, Bell Direct Advantage they were: Brainchip (ASX:BRN), Insurance Australia Group (ASX:IAG) and IOU Pay (ASX:IOU)

Trading ideas:

  • Mayne Pharma (ASX:MYX) was restamped as Bell Potter Buy with its shares expected to grow 29% to $0.56.
  • Synlait Milk (ASX:SM1) was upgraded by Bell Potter as a Buy. Bell Potter expects SM1 shares to jump 27% to $4.10, with sour sales behind it and the infant formula business set for growth.
  • Motorcycle Holdings (ASX:MTO), Pro Mediucs (ASX:PME) and ALS (ASX:ALQ) are all giving off bullish charting signals according to Trading Central.