M+ Online Morning Market Buzz - 26 Aug 20

Dow Jones: 28,248.44 pts (-60.02pts, -0.21%)
⬆ Resistance:  29000
⬇ Support:  27000

FBM KLCI: 1,554.96 pts (-13.62pts, -0.87%)
⬆ Resistance:  1620
⬇ Support:  1530

HSI Index: 25,486.22 pts (-65.36pts, -0.26%)
⬆ Resistance:  26200
⬇ Support:  24200

Crude Palm Oil: RM2,615 (-RM47, -1.77%)
⬆ Resistance:  2820
⬇ Support:  2560

Brent Oil: $45.86 (+$0.73, +1.62%)
⬆ Resistance:  470
⬇ Support:  42.80

Gold: $1,928.18 (-$0.70, -0.04%)
⬆ Resistance:  2050
⬇ Support:  1880

M+ Online Technical Focus - 26 Aug 20
UEM Edgenta Bhd: Market leader in healthcare support services

Trading Catalyst
• Largest hospital support service player in Southeast Asia having serve over 300 hospital beds across several countries such as Malaysia, Singapore, Indonesia, Taiwan, India and United Arab Emirates.
• More than 30 years of experience in highway maintenance having managed and maintained over 3,100km of expressways in Malaysia and Indonesia.
• Secured a hospital support services contract valued between RM264.5m-RM284.0m from the Ministry of Health of Singapore back in July 2020.
• Technically, the recovery beyond RM2.13 suggests price may stage further upside towards the next resistances at RM2.30-RM2.48 with long term target at RM2.65. 

Technical View

(i) EDGENTA (S: RM2.02, R: RM2.30-2.48, LT TP:RM2.65, CL:RM2.00)

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

_Source: Bloomberg, M+ Online

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