Dow Jones: 25,734.97 pts (-77.91pts, -0.30%)
⬆ Resistance:  26600
⬇ Support:  24500

FBM KLCI: 1,514.43 pts (+13.46pts, +0.90%)
⬆ Resistance:  1550
⬇ Support:  1450

Crude Palm Oil: RM2,327 (+RM30, +1.31%)
⬆ Resistance:  2480
⬇ Support:  2250

Brent Oil: $42.03 (+$0.88, +2.14%)
⬆ Resistance:  43.5
⬇ Support:  38.7

Gold: $1,770.09 (-$10.87, -0.61%)
⬆ Resistance:  1830
⬇ Support:  1720

M+ Online Technical Focus - 2 Jul 20
D&O Green Technologies Bhd: Brightening up the scene

Trading Catalyst
• One of the leading light-emitting diodes (LEDs) makers for automotive manufacturers in the world offering high-performance and innovative solutions.
• Opening of new corporate headquarters and manufacturing facility in 1Q2020 earmarked a new phase of expansion.
• At current price of RM0.77, D&O is trading at forward PE 19.6x for FY21, which is below the two-year average of 25.5x.
• Maintained a lean balance sheet with a net gearing of 0.1x in 1QFY20

Technical View

(i) D&O (S: RM0.695, R: RM0.825-0.865, LT TP:RM0.925, CL:RM0.69)

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

Source: Bloomberg, M+ Online

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