M+ Online Morning Market Buzz - 23 Aug 21

Dow Jones: 35,120.08 pts (+225.96pts, +0.65%)
⬆ Resistance:  36400
⬇ Support:  34000

FBM KLCI: 1,518.03 pts (+3.08pts, +0.20%)
⬆ Resistance:  1560
⬇ Support:  1470

HSI Index: 24,849.72 pts (-466.61pts, -1.84%)
⬆ Resistance:  27000
⬇ Support:  24100

Crude Palm Oil: RM4,265 (+RM27, +0.64%)
⬆ Resistance:  4630
⬇ Support:  4110

Brent Oil: $65.18 (-$1.27, -1.91%)
⬆ Resistance:  71.90
⬇ Support:  63.70

Gold: $1,781.11 (+$0.73, +0.04%)
⬆ Resistance:  1840
⬇ Support:  1740

M+ Online Technical Focus - 23 Aug 21
ATA IMS Bhd: New facility to drive growth

Trading Catalyst
• Regarded as one of the top 30 Electronics Manufacturing Service (EMS) provider in the world with products shipped to over 80 countries.
• Expansion of approximately 378,000 sqf. Pasir Gudang facility is expected to be fully utilised in 2H21 as demand remains relatively robust.
• EMS players will continue to thrive under the prevailing situation, riding on the semiconductor upcycle with global semiconductor sales that rose 29.2% YoY to US$44.5bn in June 2021.
• Technically, traders may anticipate for a breakout above RM2.79 to target the next resistances at RM2.91-3.05 with long term target set at RM3.48.

Technical View

(i) ATAIMS (S: RM2.61, R: RM2.91-3.05, LT TP: RM3.48, CL: RM2.60)

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

Economic Releases For The Week (23/8/2021-27/8/2021):

23/8/2021
United States' Existing Home Sales (10.00PM),

24/8/2021
United States' New Home Sales (10.00PM),

25/8/2021
Malaysia's Inflation Rate (12.00PM),

26/8/2021
Malaysia's Producer Price Index (12.00PM),

Source: Bloomberg, M+ Online

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