Dow Jones: 27,500.89 pts (-632.42pts, -2.25%)
:arrow_up: Resistance:  29800
:arrow_down: Support:  27000

FBM KLCI: 1,519.32 pts (+2.94pts, +0.19%)
:arrow_up: Resistance:  1580
:arrow_down: Support:  1470

HSI Index: 24,624.34 pts (+34.69pts, +0.14%)
:arrow_up: Resistance:  25800
:arrow_down: Support:  23900

Crude Palm Oil: RM2,871 (+RM67, +2.39%)
:arrow_up: Resistance:  2970
:arrow_down: Support:  2710

Brent Oil: $39.78 (-$2.23, -5.31%)
:arrow_up: Resistance:  45.00
:arrow_down: Support:  38.60

Gold: $1,932.03 (-$0.75, -0.04%)
:arrow_up: Resistance:  2020
:arrow_down: Support:  1870

M+ Online Technical Focus - 9Sep20
Real Estate Investment Trust: Providing stability against volatility

Trading Catalyst
• The recent volatility sent stocks across Bursa Malaysia into a bloodbath as investors scrambled to offload their holdings for various reasons such as the souring US-China trade relations, domestic political uncertainty, mixed bag of economic data and toppish valuations following the run-up in recent months.
• We reckon that choppiness may prevail as investors are also taking this opportunity to offload their holdings ahead of the end of blanket loan moratorium.
• At the same time, investors are opting to stay at the side lines due to the lack of fresh catalysts.

Technical View

(i) SUNREIT (S: RM1.55, R: RM1.70-1.78, LT TP:RM1.90, CL:RM1.54)
(ii) PAVREIT (S: RM1.52, R: RM1.70-1.75, LT TP:RM1.82, CL:RM1.51)

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

Source: Bloomberg, M+ Online

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