Dow Jones: 28,430.05 pts (-223.82pts, -0.78%)
⬆ Resistance:  29400
⬇ Support:  27600

FBM KLCI: 1,525.21 pts (-29.57pts, -1.90%)
⬆ Resistance:  1610
⬇ Support:  1500

HSI Index: 25,177.05 pts (-245.01pts, -0.96%)
⬆ Resistance:  26400
⬇ Support:  24700

Crude Palm Oil: RM2,738 (+RM56, +2.09%)
⬆ Resistance:  2820
⬇ Support:  2560

Brent Oil: $45.28 (-$0.53, -1.16%)
⬆ Resistance:  47.50
⬇ Support:  43.70

Gold: $1,967.80 (+$2.97, +0.15%)
⬆ Resistance:  2020
⬇ Support:  1870

M+ Online Technical Focus - 1Sep20
JHM Consolidation Bhd: Brightening outlook

Trading Catalyst
• A key player in the Electronics Manufacturing Services (EMS) space in Malaysia for the manufacturing and assembly of surface mount technology and PCBA assembly for LED lighting modules.
• Stronger demand for automotive and industrial sector as global economy gradually re-opens in recent months bolster recovery prospects.
• Submitted the proposal to transfer to Main Board of Bursa Malaysia, expected to be completed by end-2020 may garner further institutional support.
• Technically, short-term trendline breakout above RM1.69 may propel share price higher towards the next resistances at RM1.88-RM2.00 with long term target at RM2.20.

Technical View

(i) JHM (S: RM1.57, R: RM1.88-2.00, LT TP:RM2.20, CL:RM1.56)

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

Source: Bloomberg, M+ Online

Economic Releases For The Week (1/9/2020-4/9/2020):

1/9/2020
JP - Japan's Unemployment Rate, 7.30AM
JP - Japan's Jibun Bank Manufacturing PMI, 8.30AM
MY - Malaysia's Markit Manufacturing PMI, 8.30AM
CN - China's Caixin Manufacturing PMI, 9.45AM
EU - Eurozone's Markit Manufacturing PMI, 4.00PM
UK - United Kingdom's Markit Manufacturing PMI, 4.30PM
EU - Eurozone's Unemployment Rate, 5.00PM
US - United States' Markit Manufacturing PMI, 9.45PM
US - United States' ISM Manufacturing PMI, 10.00PM

2/9/2020
EU - Eurozone's Producer Price Index, 5.00PM
US - United States' Factory Orders, 10.00PM

3/9/2020
JP - Japan's Jibun Bank Services PMI, 8.30AM
JP - Japan's Jibun Bank Composite PMI, 8.30AM
CN - China's Caixin Services PMI, 9.45AM
CN - China's Caixin Composite PMI, 9.45AM
EU - Eurozone's Markit Services PMI, 4.00PM
EU - Eurozone's Markit Composite PMI, 4.00PM
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 PMI, 10.00PM

4/9/2020
US - United States' Unemployment Rate, 8.30PM

Source: Trading Economics, M+ Online

Errata on Brent oil price

M+ Online Morning Market Buzz - 1Sep20

Dow Jones: 28,430.05 pts (-223.82pts, -0.78%)
⬆ Resistance:  29400
⬇ Support:  27600

FBM KLCI: 1,525.21 pts (-29.57pts, -1.90%)
⬆ Resistance:  1610
⬇ Support:  1500

HSI Index: 25,177.05 pts (-245.01pts, -0.96%)
⬆ Resistance:  26400
⬇ Support:  24700

Crude Palm Oil: RM2,738 (+RM56, +2.09%)
⬆ Resistance:  2820
⬇ Support:  2560

Brent Oil: $45.28 (+$0.23, +0.51%)
⬆ Resistance:  47.50
⬇ Support:  43.70

Gold: $1,967.80 (+$2.97, +0.15%)
⬆ Resistance:  2020
⬇ Support:  1870

Source: Bloomberg, M+ Online

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