M+ Online Morning Market Buzz - 5Sep21

Dow Jones: 35,369.09 pts (-74.73pts, -0.21%)
⬆ Resistance:  36300
⬇ Support:  34600

FBM KLCI: 1,589.19 pts (+7.00pts, +0.44%)
⬆ Resistance:  1640
⬇ Support:  1550

HSI Index: 25,901.99 pts (-188.44pts, -0.72%)
⬆ Resistance:  26900
⬇ Support:  24700

Crude Palm Oil: RM4,310 (+RM69, +1.63%)
⬆ Resistance:  4470
⬇ Support:  4070

Brent Oil: $72.61 (-$0.42, -0.58%)
⬆ Resistance:  75.20
⬇ Support:  69.10

Gold: $1,827.73 (+$18.07, +1.00%)
⬆ Resistance:  1880
⬇ Support:  1770

M+ Online Technical Focus - 6Sep21
Freight Management Holdings Bhd: Leveraging on buoyant trade activities

Trading Catalyst
• An integrated international logistics provider, offering complete multimodal international freight services covering sea, rail and air freight.
• Impending acquisition of two parcels of land at Klang measuring 9.3-ac to be developed as an integrated logistics hub will expand the warehousing and distribution services that is currently operating at 90-95% capacity.
• Trade activities to remain robust and to see further improvement following relaxation of restrictions and reopening of business activities since mid-July 2021 in Malaysia.
• Technically, price has formed a short-term triangle formation breakout above RM0.795, targeting the resistances at RM0.86-0.935 with long term target set at RM1.04.

Technical View

(i) FREIGHT (S: RM0.755, R: RM0.86-0.935, LT TP: RM1.04, CL: RM0.75)

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

Economic Releases For The Week (6/9/2021-10/9/2021):

7/9/2021
EU - Eurozone's ZEW Economic Sentiment, 5.00PM
EU - Eurozone's 3Q21 GDP Growth Rate (Est), 5.00PM

8/9/2021
JP - Japan's 2Q21 GDP Growth Rate, 7.50AM

9/9/2021
CN - China's Inflation Rate, 9.30AM
CN - China's Producer Price Index, 9.30AM
MY - Malaysia's Unemployment Rate, 12.00PM
MY - Malaysia's Bank Negara's Interest Rate Decision, 3.00PM
EU - Eurozone's European Central Bank's Interest Rate Decision, 7.45PM

10/9/2021
MY - Malaysia's Industrial Production, 12.00PM
MY - Malaysia's Retail Sales, 12.00PM
UK - United Kingdom's Manufacturing Production, 2.00PM
UK - United Kingdom's Industrial Production, 2.00PM
US - United States' Producer Price Index, 8.30PM

Source: Bloomberg, M+ Online

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