Morning Bell 13 November

Jessica Amir
November 13, 2020

The ASX200 is set to fall 0.6% at the open following global markets taking a breather overnight.

The Fed Chair said the U.S. economic outlook remained uncertain, despite a potential COVID-19 vaccine. Also weighing on equities, COVID-19 cases continue to rise to a new record.

What to watch today:

  • Amid the pull back and profit taking overnight, keep an eye on the sector rotations that have stood out this week.
  • AGMs: NEXTDC (ASX:NXT), Orocobre (ASX:ORE) and Polynovo (ASX:PNV).

Local trading ideas:

  • Bell Potter upgraded Emeco Holdings’ (ASX:EHL) Buy rating, increasing its target to $1.58, implying 68% upside in a year from yesterday’s close.
  • Bell Potter reiterated GrainCorp (ASX:GNC) as a Buy, with a $4.85 price target, implying 23% upside in a year from yesterday’s close, with the crop outlook looking strong.
  • Globe International (ASX:GLB), JB Hi-Fi (ASX:JBH) and Reece (ASX:REH) are all showing bullish charting signals according to Trading Central.