M+ Online Morning Market Buzz - 17Sep21

Dow Jones: 34,751.32 pts (-63.07pts, -0.18%)
⬆ Resistance:  35900
⬇ Support:  33900

FBM KLCI: 1,555.26 pts (-0.25pts, -0.02%)
⬆ Resistance:  1620
⬇ Support:  1520

HSI Index: 24,667.85 pts (-365.36pts, -1.46%)
⬆ Resistance:  26800
⬇ Support:  24100

Crude Palm Oil: RM4,329 (+RM94, +2.22%)
⬆ Resistance:  4540
⬇ Support:  4170

Brent Oil: $75.67 (+$0.21, +0.28%)
⬆ Resistance:  77.70
⬇ Support:  69.60

Gold: $1,753.77 (-$40.29, -2.25%)
⬆ Resistance:  1850
⬇ Support:  1720

M+ Online Technical Focus - 17Sep21
Harbour-Link Group Bhd: Capitalising on the trade boom

Trading Catalyst
• An integrated logistics services provider, shipping and engages in construction works, heavy lifting and haulage as well as property development with established footprint extends across the Intra-Asia region.
• Capitalising on the increasing charter and freight rates that was stemmed by the global supply chain disruption following the shortage of vessels, coupled with the improving trade activities. 
• Current price is trading at a discount to its book value per share of RM1.12 which was recorded in 3QFY21.
• Technically, traders may anticipate for a short-term breakout above RM1.01, to target next resistances at RM1.06-1.13 with long term target set at RM1.20.

Technical View

(i) HARBOUR (S: RM0.975, R: RM1.06-1.13, LT TP: RM1.20, CL: RM0.97)

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

Source: Bloomberg, M+ Online

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