M+ Online Morning Market Buzz - 15Sep21

Dow Jones: 34,577.57 pts (-292.06pts, -0.84%)
⬆ Resistance:  36000
⬇ Support:  33900

FBM KLCI: 1,555.51 pts (-14.62pts, -0.93%)
⬆ Resistance:  1630
⬇ Support:  1520

HSI Index: 25,502.23 pts (-311.58pts, -1.21%)
⬆ Resistance:  27100
⬇ Support:  24900

Crude Palm Oil: RM4,340 (+RM22, +0.51%)
⬆ Resistance:  4570
⬇ Support:  4170

Brent Oil: $73.60 (+$0.09, +0.12%)
⬆ Resistance:  75.80
⬇ Support:  69.50

Gold: $1,804.51 (+$10.76, +0.60%)
⬆ Resistance:  1850
⬇ Support:  1750

M+ Online Technical Focus - 15Sep21
MMS Ventures Bhd: Robust sales driving growth

Trading Catalyst
• Involved in the design and manufacture of LED and semiconductor industrial automation systems and machinery as well as software development.
• Tapping onto the recovery in smartphone sales that fell sharply in 2020 as demand will be driven by the evolution into 5G mobile devices, while sales towards the automotive sector will pick up from the low base effect last year.
• Riding onto the surge in global demand for semiconductor test equipment across other sectors such as automotive, industrial automation and general lighting.
• Technically, traders may anticipate for a breakout above RM1.10, to target next resistances at RM1.16-1.26 with long term target set at RM1.43.

Technical View

(i) MMSV (S: RM1.02, R: RM1.16-1.26, LT TP: RM1.43, CL: RM1.01)

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

Source: Bloomberg, M+ Online

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