Highlights

KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Tue, 13 Oct 2020, 5:16 PM

 

Daily Market Update - 21 Sept 2020

Author:   |    Publish date:


Dow Jones: 27,657.42 pts (-244.56pts, -0.88%)
⬆ Resistance:  29000
⬇ Support:  27000

FBM KLCI: 1,506.63 pts (-6.44pts, -0.43%)
⬆ Resistance:  1580
⬇ Support:  1480

HSI Index: 24,455.41 pts (+114.56pts, +0.47%)
⬆ Resistance:  25400
⬇ Support:  23800

Crude Palm Oil: RM3,080 (+RM105, +3.53%)
⬆ Resistance:  3150
⬇ Support:  2810

Brent Oil: $43.15 (-$0.15, -0.34%)
⬆ Resistance:  44.70
⬇ Support:  38.60

Gold: $1,950.86 (+$6.42, +0.33%)
⬆ Resistance:  2020
⬇ Support:  1900

 

M+ Online Technical Focus - 21Sep20
Guan Chong Bhd: Resilient demand

Trading Catalyst
• Ranked as the fourth largest cocoa grinder in the world with total cocoa processing capacity of 250,000MT p.a. 
• New cocoa processing plant in Cote D’Ivoire coming on stream in 2H2021 brings additional grinding capacity of 60,000MT p.a.
• Demand expected to remain resilient premised to the improved retail sales spending as economic across the globe begun gradual re-opening of economic activities in 2Q2020.
• Maintained a healthy balance sheet with net gearing standing at 0.3x as of 2QFY20 with prospective decent dividends yields FY21f and FY22f at 2.7-4.0%. 

 

Technical View

(i) GCB (S: RM3.17, R: RM3.53-3.67, LT TP:RM3.79, CL:RM3.16)

S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss

Economic Releases For The Week (21/9/2020-25/9/2020):

22/9/2020
US - United States' Existing Home Sales, 10.00PM

23/9/2020
MY - Malaysia's Inflation Rate, 12.00PM

24/9/2020
US - United States' New Home Sales, 10.00PM

Source: Bloomberg, M+ Online

 

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.

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Labels: GBGAQRS

Related Stocks

Chart Stock Name Last Change Volume 
GBGAQRS 0.665 +0.01 (1.53%) 654,500 

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