Highlights

KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Fri, 28 Jan 2022, 5:58 PM

 

Daily Market Update - 29 Nov 2021

Author:   |    Publish date:


M+ Online Morning Market Buzz - 29 Nov 21

Dow Jones: 34,899.34 pts (-905.04pts, -2.53%)
⬆ Resistance:  36700
⬇ Support:  34100

FBM KLCI: 1,512.22 pts (-5.38pts, -0.35%)
⬆ Resistance:  1570
⬇ Support:  1480

HSI Index: 24,080.52 pts (-659.64pts, -2.67%)
⬆ Resistance:  25700
⬇ Support:  23600

Crude Palm Oil: RM4,849 (-RM78, -1.58%)
⬆ Resistance:  5130
⬇ Support:  4750

Brent Oil: $72.72 (-$9.50, -11.55%)
⬆ Resistance:  84.70
⬇ Support:  70.70

Gold: $1,802.59 (+$13.74, +0.77%)
⬆ Resistance:  1890
⬇ Support:  1750

M+ Online Technical Focus - 29 Nov 21
Comfort Gloves Bhd: Light at end of tunnel

Trading Catalyst
• Established in 1993 with manufacturing plants housed at Simpang and Matang, Taiping, Perak with 58% of revenue are derived from overseas market.
• Plans to build a production facility in Bemban, Batu Gajah, Perak that will be capable of producing up to 14.5bn gloves per annum.
• Equipped with a solid balance sheet with a net cash position of RM299.7m, translating to net cash per share of RM0.51 (c.42.1% of share price) as of 2QFY22.
• Technically, price has formed a resistance breakout above RM1.20, targeting the next resistances at RM1.32-1.39 with long term target at RM1.55.

Technical View

(i) COMFORT (S: RM1.05, R: RM1.32-1.39, LT TP: RM1.55, CL: RM1.04)

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

Economic Releases For The Week (29/11/2021-3/12/2021):

29/11/2021
EU - Eurozone's Consumer Confidence, 6.00PM
EU - Eurozone's Economic Sentiment, 6.00PM
EU - Eurozone's Industrial Sentiment, 6.00PM
EU - Eurozone's Services Sentiment, 6.00PM
US - United States' Pending Home Sales, 11.00PM

30/11/2021
JP - Japan's Unemployment Rate, 7.30AM
CN - China's NBS Manufacturing PMI, 9.00AM
CN - China's Non-Manufacturing PMI, 9.00AM
MY - Malaysia's Producer Price Index, 12.00PM

1/12/2021
JP - Japan's Jibun Bank Manufacturing PMI, 8.30AM
MY - Malaysia's Markit Manufacturing PMI, 8.30AM
CN - China's Caixin Manufacturing PMI, 9.45AM
EU - Eurozone's Markit Manufacturing PMI, 5.00PM
UK - United Kingdom's Markit Manufacturing PMI, 5.30PM
US - United States' Markit Manufacturing PMI, 10.45PM
US - United States' ISM Manufacturing PMI, 11.00PM

2/12/2021
JP - Japan's Consumer Confidence, 1.00PM
EU - Eurozone's Unemployment Rate, 6.00PM
EU - Eurozone's Producer Price Index, 6.00PM

3/12/2021
JP - Japan's Jibun Bank Composite PMI, 8.30AM
JP - Japan's Jibun Bank Services PMI, 8.30AM
CN - China's Caixin Services PMI, 9.45AM
CN - China's Caixin Composite PMI, 9.45AM
EU - Eurozone's Markit Composite PMI, 5.00PM
EU - Eurozone's Markit Services PMI, 5.00PM
UK - United Kingdom's Markit Composite PMI, 5.30PM
UK - United Kingdom's Markit Services PMI, 5.30PM
EU - Eurozone's Retail Sales, 6.00PM
US - United States' Unemployment Rate, 9.30PM
US - United States' Markit Services PMI, 10.45PM
US - United States' Markit Composite PMI, 10.45PM
US - United States' ISM Non-Manufacturing PMI, 11.00PM
US - United States' Factory Orders, 11.00PM

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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