M+ Online Morning Market Buzz - 3Sep21

Dow Jones: 35,443.82 pts (+131.29pts, +0.37%)
⬆ Resistance:  36300
⬇ Support:  34600

FBM KLCI: 1,582.19 pts (-4.70pts, -0.30%)
⬆ Resistance:  1640
⬇ Support:  1550

HSI Index: 26,090.43 pts (+62.14pts, +0.24%)
⬆ Resistance:  26900
⬇ Support:  24700

Crude Palm Oil: RM4,241 (+RM65, +1.56%)
⬆ Resistance:  4490
⬇ Support:  4070

Brent Oil: $73.03 (+$1.44, +2.01%)
⬆ Resistance:  75.20
⬇ Support:  69.10

Gold: $1,809.66 (-$4.24, -0.23%)
⬆ Resistance:  1860
⬇ Support:  1750

M+ Online Technical Focus - 3Sep21
QES Group Bhd: Doubling the manufacturing capacity

Trading Catalyst
• Involves in the distribution and manufacturing of automated test equipment (ATE) with offices in Malaysia, Singapore, Thailand, Indonesia, Philippines and Vietnam.
• Manufacturing segment growth will be driven by new manufacturing facility in January 2021 that boosts capacity from 60 machines to 120 machines per annum. 
• Future prospects supported by robust demand from the semiconductor industry with the rising adoption of Internet of Things (IoT), 5G and smart manufacturing.
• Technically, price has formed a hammer candle, signalling potential rebound towards the resistances at RM0.785-0.835 with long term target set at RM0.945.

Technical View

(i) QES (S: RM0.67, R: RM0.785-0.835, LT TP: RM0.945, CL: RM0.665)

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

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