Dow Jones: 27,173.96 pts (+358.52pts, +1.34%)
⬆ Resistance:  28100
⬇ Support:  26100

FBM KLCI: 1,509.14 pts (+8.34pts, +0.56%)
⬆ Resistance:  1550
⬇ Support:  1470

HSI Index: 23,235.42 pts (-75.65pts, -0.32%)
⬆ Resistance:  25100
⬇ Support:  22700

Crude Palm Oil: RM2,822 (+RM65, +2.36%)
⬆ Resistance:  3170
⬇ Support:  2680

Brent Oil: $41.92 (-$0.02, -0.05%)
⬆ Resistance:  44.20
⬇ Support:  40.20

Gold: $1,861.58 (-$6.49, -0.35%)
⬆ Resistance:  2000
⬇ Support:  1820

M+ Online Technical Focus - 28Sep20
*Poh Huat Resources Holdings Bhd: Benefitting from US-China trade diversion *

Trading Catalyst
• Operates at a production space in excess of 3.5m sqf in both Malaysia and Vietnam with products sold to over 60 countries in 5 continents across the globe.
• A one-stop furniture manufacturer; well equipped to capitalise on the stronger demand from the US-China trade diversion.
• Demand to remain stable on the recovery in US housing starts data that is currently near pre-Covid19 levels, coupled with the rising adoption of work from home. 
• Technically, price has formed a flag-formation breakout above RM1.42 which may propel share price higher towards the next resistances at RM1.59-RM1.70 with long term target at RM1.80.

Technical View

(i) POHUAT (S: RM1.37, R: RM1.59-1.7, LT TP:RM1.8, CL:RM1.36)

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

Source: Bloomberg, M+ Online

Economic Releases For The Week (28/9/2020-2/10/2020):

29/9/2020
EU - Eurozone's Business Confidence, 5.00PM
EU - Eurozone's Economic Sentiment, 5.00PM
EU - Eurozone's Industrial Sentiment, 5.00PM
EU - Eurozone's Services Sentiment, 5.00PM
EU - Eurozone's Consumer Confidence, 5.00PM

30/9/2020
JP - Japan's Retail Sales, 7.50AM
CN - China's NBS Manufacturing PMI, 9.00AM
CN - China's Non Manufacturing PMI, 9.00AM
CN - China's Caixin Manufacturing PMI, 9.45AM
MY - Malaysia's Producer Price Index, 12.00PM
UK - United Kingdom's 2Q2019 GDP Growth Rate, 4.30PM
US - United States' 2Q2019 GDP Growth Rate, 8.30PM

1/10/2020
JP - Japan's Jibun Bank Manufacturing PMI, 8.30AM
MY - Malaysia's Markit Manufacturing PMI, 8.30AM
EU - Eurozone's Markit Manufacturing PMI, 4.00PM
UK - United Kingdom's Markit Manufacturing PMI, 4.30PM
EU - Eurozone's Unemployment Rate, 5.00PM
EU - Eurozone's Producer Price Index, 5.00PM
US - United States' Markit Manufacturing PMI, 9.45PM
US - United States' ISM Manufacturing PMI, 10.00PM

2/10/2020
JP - Japan's Unemployment Rate, 7.30AM
JP - Japan's Consumer Confidence, 1.00PM
US - United States' Unemployment Rate, 8.30PM
US - United States' Factory Orders, 10.00PM

Source: Bloomberg, M+ Online

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