Market wraps 22nd April 2021
Morning Bell - Jessica Amir
The Aussie share market is set to lift at the open, with the futures suggesting a 0.5% gain. US stocks advanced after two days of declines.
What to Watch:
- The iron ore price fell 1.3% overnight, retreating slightly from its 9.5 year high. Iron ore stocks in uptrend breakouts include Magnetite Mines (ASX:MGT), and Champion Iron (ASX:CIA).
- The gold price rebounded 1%. Gold stocks in uptrend breakouts include Newcrest Mining (ASX:NCM), St Barbara (ASX:SBM), Evolution Mining (ASX:EVN), OceanaGold (ASX:OGC). Also watch Westgold (ASX:WGX) and Silver Lake (ASX:SLR).
- The most traded stocks across Bell Direct yesterday: Province Resources (ASX:PRL), Rumble Resources (ASX:RTR) and Alterity Therapeutics (ASX:ATH)
- Cluey (ASX:CLU) was restamped as a Bell Potter Buy with a $1.80 price target.
- Bega Cheese Ltd (ASX:BGA) was upgraded as a Buy by Bell Potter with an increased $7.35 price target
- Brightstar Resources (ASX:BTR), Valmec (ASX:VMX) and Advanced Breaking Technology (ASX:ABV) are all giving off bullish charting signals according to Trading Central.