M+ Online Morning Market Buzz - 27Sep21

Dow Jones: 34,798.00 pts (+33.18pts, +0.10%)
⬆ Resistance:  35600
⬇ Support:  33000

FBM KLCI: 1,532.06 pts (-7.28pts, -0.47%)
⬆ Resistance:  1580
⬇ Support:  1500

HSI Index: 24,192.16 pts (-318.82pts, -1.30%)
⬆ Resistance:  25400
⬇ Support:  23300

Crude Palm Oil: RM4,441 (-RM6, -0.13%)
⬆ Resistance:  4590
⬇ Support:  3960

Brent Oil: $78.09 (+$0.84, +1.09%)
⬆ Resistance:  79.90
⬇ Support:  71.80

Gold: $1,750.42 (+$7.66, +0.44%)
⬆ Resistance:  1830
⬇ Support:  1710

M+ Online Technical Focus - 27Sep21
Superlon Holdings Bhd: Vietnam expansion on the cards

Trading Catalyst
• Engages in the manufacturing of thermal insulation material and operates at combined annual installed capacity of 11,000 tonnes with products exported to more than 70 countries worldwide.
• Considering to expand its Vietnam operations of which the plant is already operating at 75-80% of total annual installed capacity of 1,500 tonnes, whilst enjoying tax incentives.
• Demand to remain stable, owing to the rising adoption of work-from-home that was brought about by the Covid-19 pandemic.
• Technically, traders may monitor for a recovery above the RM0.90 level, targeting the next resistances at RM0.935-0.98 with long term target at RM1.05.

Technical View

(i) SUPERLN (S: RM0.855, R: RM0.935-0.98, LT TP: RM1.05, CL: RM0.85)

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

Economic Releases For The Week (27/9/2021-1/10/2021):

27/9/2021
MY - Malaysia's 12th Malaysia Plan, 11.30AM

29/9/2021
EU - Eurozone's Consumer Confidence, 5.00PM
EU - Eurozone's Economic Sentiment, 5.00PM
EU - Eurozone's Industrial Sentiment, 5.00PM
EU - Eurozone's Services Sentiment, 5.00PM

30/9/2021
JP - Japan's Retail Sales, 7.50AM
CN - China's NBS Manufacturing PMI, 9.00AM
CN - China's Non-Manufacturing PMI, 9.00AM
CN - China's Caixin Manufacturing PMI, 9.45AM
MY - Malaysia's Producer Price Index, 12.00PM
UK - United Kingdom's 2Q21 GDP Growth Rate, 2.00PM
EU - Eurozone's Unemployment Rate, 5.00PM
US - United States' 2Q21 GDP Growth Rate, 8.30PM

1/10/2021
JP - Japan's Unemployment Rate, 7.30AM
JP - Japan's Jibun Bank Manufacturing PMI, 8.30AM
MY - Malaysia's Markit Manufacturing PMI, 8.30AM
JP - Japan's Consumer Confidence, 1.00PM
EU - Eurozone's Markit Manufacturing PMI, 4.00PM
UK - United Kingdom's Markit Manufacturing PMI, 4.30PM
US - United States' Markit Manufacturing PMI, 9.45PM
US - United States' ISM Manufacturing PMI, 10.00PM

Source: Bloomberg, M+ Online

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