Dow Jones: 27,772.76 pts (-375.88pts, -1.34%)
⬆ Resistance:  29000
⬇ Support:  26900

FBM KLCI: 1,509.47 pts (-2.96pts, -0.20%)
⬆ Resistance:  1560
⬇ Support:  1460

HSI Index: 23,980.65 pts (+212.87pts, +0.90%)
⬆ Resistance:  24600
⬇ Support:  23000

Crude Palm Oil: RM2,818 (+RM97, +3.56%)
⬆ Resistance:  2890
⬇ Support:  2640

Brent Oil: $42.65 (+$1.36, +3.29%)
⬆ Resistance:  43.70
⬇ Support:  38.10

Gold: $1,878.18 (-$35.35, -1.85%)
⬆ Resistance:  1960
⬇ Support:  1840

M+ Online Technical Focus - 7 Oct 20
Revenue Group Bhd: Thriving with e-payment

Trading Catalyst
• Focused on delivering complete and customisable payment solution to key partners across various industries such as AmBank, Affin Bank, Visa, MasterCard, MEPS, Petronas, Taobao.com, Touch ’n Go and Giant. 
• Capitalising on the rising adoption of e-payment nationwide, whilst the Covid-19 pandemic has sped up adoption for QR payments in order to minimise contact.
• Acquisition of 40.0% equity stake in artificial intelligence (AI) company Wannatalk Malaysia Sdn Bhd value-add into the business to business to consumer (B2B2C) solution.
• Technically, a trendline breakout above RM1.18 may drive share price higher towards the next resistances at RM1.27-1.30 with long term target at RM1.40.

Technical View

(i) REVENUE (S: RM1.13, R: RM1.27-1.30, LT TP:RM1.40, CL:RM1.12)

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

Source: Bloomberg, M+ Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.