Dow Jones: 25,605.54 pts (+477.37pts, +1.90%)
⬆ Resistance:  28200
⬇ Support:  24600

FBM KLCI: 1,546.02 pts (-11.23pts, -0.72%)
⬆ Resistance:  1630
⬇ Support:  1480

Crude Palm Oil: RM2,371 (+RM5, +0.21%)
⬆ Resistance:  2480
⬇ Support:  2270

Brent Oil: $38.73 (+$0.18, +0.46%)
⬆ Resistance:  44.3
⬇ Support:  36.3

Gold: $1,730.75 (+$3.05, +0.18%)
⬆ Resistance:  1780
⬇ Support:  1650

M+ Online Technical Focus - 15 Jun 20
Healthcare sector: Time to Gloves-Up again

Trading Catalyst
• Rising number of Covid-19 cases (close to 8.0m cases and over 400,000 deaths) continues to pose a stumbling block to the global economy recovery
• Several part of the world saw the number of hospitalisations spiked in recent days has also sparked concern over a potential second wave of infection.
• In view of the renewed concern over second wave of Covid-19, we reckon that glove players may return to the spotlight.
• The recent slide towards near their margin capping price suggest that the pullback is near tail end. At the same time, demand for healthcare related products and services are expected to increase overtime.

Technical View

(i) COMFORT (S: RM2.63, R: RM3.42-3.67, LT TP:RM4.21, CL:RM2.59)
(ii) RUBEREX (S: RM2.66, R: RM3.88-4.2, LT TP:RM4.54, CL:RM2.65)

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

Source: Bloomberg, M+ Online

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