Dow Jones: 25,827.36 pts (+92.39pts, +0.36%)
⬆ Resistance:  26800
⬇ Support:  24600

FBM KLCI: 1,552.65 pts (+16.37pts, +1.07%)
⬆ Resistance:  1590
⬇ Support:  1450

Crude Palm Oil: RM2,358 (-RM4, -0.17%)
⬆ Resistance:  2450
⬇ Support:  2250

Brent Oil: $42.80 (-$0.34, -0.79%)
⬆ Resistance:  44.10
⬇ Support:  39.30

Gold: $1,772.05 (-$3.33, -0.19%)
⬆ Resistance:  1830
⬇ Support:  1730

M+ Online Technical Focus - 6 Jul 20
Hexza Corporation Bhd: Proxy to rising demand in healthcare products

Trading Catalyst
• We like Hexza as one of the key players of ethanol manufacturers in Malaysia. 
• Despite the implementation of MCO, Hexza was not affected as the group has obtained approval from the Ministry of International Trade and Industry (MITI) to remain operational. 
• At RM1.22, Hexza trades at trailing-12 months (TTM) PE 16.0x which is below its two-year historical average of 17.1x.
• Technically, the uptrend formation is established and price is attempting to form resistance breakout above RM1.23, targeting RM1.38-RM1.49.

Technical View

(i) HEXZA (S: RM1.10, R: RM1.38-1.49, LT TP:RM1.60, CL:RM1.09)

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

Economic Releases For The Week (6/7/2020-10/7/2020):

6/7/2020
EU - Eurozone's Retail Sales, 5.00PM
US - United States' Markit Services PMI, 9.45PM
US - United States' Markit Composite PMI, 9.45PM
US - United States' ISM Non-Manufacturing New Orders, 10.00PM

7/7/2020
MY - Malaysia's Bank Negara's Interest Rate Decision, 3.00PM

9/7/2020
JP - Japan's Machinery Orders, 7.50AM
CN - China's Inflation Rate, 9.30AM
CN - China's Producer Price Index, 9.30AM

10/7/2020
JP - Japan's Producer Price Index, 7.50AM
MY - Malaysia's Industrial Production, 12.00PM
MY - Malaysia's Retail Sales, 12.00PM
US - United States' Producer Price Index, 8.30PM

Source: Trading Economics, 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.