M+ Online Morning Market Buzz - 20Sep21

Dow Jones: 34,584.88 pts (-166.44pts, -0.48%)
⬆ Resistance:  35700
⬇ Support:  33900

FBM KLCI: 1,548.51 pts (-6.75pts, -0.43%)
⬆ Resistance:  1610
⬇ Support:  1520

HSI Index: 24,920.76 pts (+252.91pts, +1.03%)
⬆ Resistance:  26500
⬇ Support:  24000

Crude Palm Oil: RM4,261 (-RM68, -1.57%)
⬆ Resistance:  4540
⬇ Support:  4110

Brent Oil: $75.34 (-$0.33, -0.44%)
⬆ Resistance:  77.70
⬇ Support:  71.30

Gold: $1,754.34 (+$0.57, +0.03%)
⬆ Resistance:  1850
⬇ Support:  1720

M+ Online Technical Focus - 20Sep21
V.S. Industry Bhd: Another record breaking year

Trading Catalyst
• One of the leading integrated Electronics Manufacturing Services (EMS) providers in the region, supported by multinational customers from Europe, Japan and US.
• Newly built 413,682-sqf production plant at i-Park Senai Airport City will cater for several new product models.
• Compelling prospects, riding onto the increasing adoption of emerging technologies in the Industrial Internet of Things (IIoT) and enhanced communication posed by 5G.
• Technically, price has experienced a short-term breakout above RM1.47, targeting the next resistances at RM1.55-1.60 with long term target at RM1.75.

Technical View

(i) VS (S: RM1.38, R: RM1.55-1.60, LT TP: RM1.75, CL: RM1.37)

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

Economic Releases For The Week (20/9/2021-24/9/2021):

22/9/2021
JP - Japan's Bank of Japan's Interest Rate Decision, 11.00AM
US - United States' Existing Home Sales, 10.00PM

23/9/2021
US - United States' Federal Reserve Interest Rate Decision, 2.00AM
UK - United Kingdom's Bank of England's Quantitative Easing, 7.00PM
UK - United Kingdom's Bank of England's Interest Rate Decision, 7.00PM

24/9/2021
JP - Japan's Inflation Rate, 7.30AM
MY - Malaysia's Inflation Rate, 12.00PM
US - United States' New Home Sales, 10.00PM

Source: Bloomberg, M+ Online

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