Dow Jones: 27,682.81 pts (-134.09pts, -0.48%)
⬆ Resistance:  28700
⬇ Support:  26800

FBM KLCI: 1,500.30 pts (+3.53pts, +0.24%)
⬆ Resistance:  1550
⬇ Support:  1460

HSI Index: 23,459.05 pts (+183.52pts, +0.79%)
⬆ Resistance:  24300
⬇ Support:  22800

Crude Palm Oil: RM2,708 (-RM81, -2.90%)
⬆ Resistance:  2930
⬇ Support:  2640

Brent Oil: $39.27 (-$1.66, -4.06%)
⬆ Resistance:  43.50
⬇ Support:  38.10

Gold: $1,899.84 (-$6.17, -0.32%)
⬆ Resistance:  1960
⬇ Support:  1820

M+ Online Technical Focus - 5 Oct 20
*Aco Group Bhd: On expansion and diversification *

Trading Catalyst
• Distributes 88 brands of electrical products and accessories, comprising of 85 third-party brands and remainder 3 brands of their own.
• Aims to open additional 7 new outlets that will ramp up the total number of outlets to 15 over the next 3 years by penetrating into second-tier cities across Peninsular Malaysia.
• Entered into a collaboration agreement with Prima Nexus Sdn Bhd (PNSB) to distribute rapid test kits for the detection of Covid-19 which have been approved by the Ministry of Health Malaysia (MOH). Technically, a short-term consolidation breakout above RM0.375 will boost price towards the next resistances at RM0.405-RM0.435 with long term target at RM0.47.
• Technically, a short-term consolidation breakout above RM0.375 will boost price towards the next resistances at RM0.405-RM0.435 with long term target at RM0.47.

Technical View

(i) ACO (S: RM0.35, R: RM0.405-0.435, LT TP:RM0.47, CL:RM0.345)

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

Source: Bloomberg, M+ Online

Economic Releases For The Week (5/10/2020-9/10/2020):

5/10/2020
JP - Japan's Jibun Bank Services PMI, 8.30AM
JP - Japan's Jibun Bank Composite PMI, 8.30AM
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

8/10/2020
CN - China's Caixin Services PMI, 9.45AM
CN - China's Caixin Composite PMI, 9.45AM

9/10/2020
UK - United Kingdom's Manufacturing Production, 4.30PM
UK - United Kingdom's Industrial Production, 4.30PM

Source: Bloomberg, M+ Online

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