Dow Jones: 26,840.40 pts (+159.53pts, +0.60%)
⬆ Resistance:  27700
⬇ Support:  26000

FBM KLCI: 1,595.93 pts (+6.48pts, +0.41%)
⬆ Resistance:  1650
⬇ Support:  1540

HSI Index: 25,635.66 pts (+577.67pts, +2.31%)
⬆ Resistance:  26500
⬇ Support:  24300

Crude Palm Oil: RM2,641 (-RM20, -0.75%)
⬆ Resistance:  2750
⬇ Support:  2470

Brent Oil: $44.32 (+$1.04, +2.40%)
⬆ Resistance:  45.80
⬇ Support:  41.60

Gold: $1,841.91 (+$24.14, +1.33%)
⬆ Resistance:  1890
⬇ Support:  1760

M+ Online Technical Focus - 22 Jul 20
Cloud computing; a sunrise industry

Trading Catalyst
• Adoption of cloud services and digitalisation has been on an upward scale across the globe.
• The new normal of remote working is expected to remain in place even if lockdowns are lifted as individuals and corporates communicates through the screen.
• According to GlobalData, cloud computing industry in the Asia Pacific region is projected to grow 117% from USD$133.0bn recorded in 2019 to US$288.0bn in 2024.
• Transformation to 5G will be a cutting edge for multi-access edge computing (MEC), network slicing, and private network.

Technical View

(i) KRONO (S: RM0.535, R: RM0.635-0.68, LT TP:RM0.75, CL:RM0.52)
(ii) K1 (S: RM0.355, R: RM0.47-0.51, LT TP:RM0.595, CL:RM0.35)

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

Source: Bloomberg, M+ Online

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