Dow Jones: 27,452.66 pts (-131.40pts, -0.48%)
⬆ Resistance:  28300
⬇ Support:  26100

FBM KLCI: 1,503.90 pts (-7.76pts, -0.51%)
⬆ Resistance:  1550
⬇ Support:  1470

HSI Index: 23,275.53 pts (-200.52pts, -0.85%)
⬆ Resistance:  24300
⬇ Support:  22700

Crude Palm Oil: RM2,777 (-RM45, -1.59%)
⬆ Resistance:  2990
⬇ Support:  2680

Brent Oil: $41.03 (-$1.40, -3.30%)
⬆ Resistance:  43.50
⬇ Support:  39.70

Gold: $1,898.07 (+$16.59, +0.88%)
⬆ Resistance:  1950
⬇ Support:  1820

M+ Online Technical Focus - 30Sep20
Homeritz Corporation Bhd: Thriving in the furniture market

Trading Catalyst
• Operates 5 factories sitting on a built-up area of 510,000 sqf, supported by 850 employees with revenue contributed by more than 50 countries across the globe.
"• Benefitting from the US-China trade war following the trade diversion to manufacturers in the South East Asia countries due to import tariffs being placed in Chinese furniture makers.
• Healthy balance sheet with net cash position at 73.8m as of 3QFY20. Prospective dividend yields are relatively decent at 4.1% for both FY20f and FY21f respectively."
• Healthy balance sheet with net cash position at 73.8m as of 3QFY20. Prospective dividend yields are relatively decent at 4.1% for both FY20f and FY21f respectively.
• Technically, the flag-formation breakout above RM0.725 signals for further upside towards the next resistances at RM0.77-RM0.825 with long term target at RM0.87.

Technical View

(i) HOMERIZ (S: RM0.68, R: RM0.77-0.825, LT TP:RM0.87, CL:RM0.675)

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

Source: Bloomberg, M+ Online

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