M+ Online Morning Market Buzz - 11 Oct 21
Dow Jones: 34,746.25 pts (-8.69pts, -0.03%)
⬆ Resistance: 35700
⬇ Support: 33200
FBM KLCI: 1,563.90 pts (+2.61pts, +0.17%)
⬆ Resistance: 1600
⬇ Support: 1490
HSI Index: 24,837.85 pts (+136.12pts, +0.55%)
⬆ Resistance: 25600
⬇ Support: 23300
Crude Palm Oil: RM4,966 (+RM117, +2.41%)
⬆ Resistance: 5090
⬇ Support: 4400
Brent Oil: $82.39 (+$0.44, +0.54%)
⬆ Resistance: 85.20
⬇ Support: 77.20
Gold: $1,757.13 (+$1.35, +0.08%)
⬆ Resistance: 1820
⬇ Support: 1720
M+ Online Technical Focus - 11 Oct 21
Optimax Holdings Bhd: Mexico operations to drive growth
Trading Catalyst
• One of the leading eye specialist providers in Malaysia that is supported by 15 eye surgeons and 3 locum doctors and a team of optometrists.
• Remained on course towards its organic expansion through hiring additional surgeons and setting up more satellite clinics to improve geographical reach within the country.
• Further relaxation of standard operating procedures (SOP) under the National Recovery Plan bodes well as it would eventually increase traffic patient footfalls.
• Technically, traders may anticipate for breakout above RM1.34, targeting the next resistances at RM1.47-1.57 with long term target at RM1.66.
Technical View
(i) OPTIMAX (S: RM1.25, R: RM1.47-1.57, LT TP: RM1.66, CL: RM1.24)
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss
Economic Releases For The Week (11/10/2021-15/10/2021):
11/10/2021
UK - United Kingdom's Manufacturing Production, 2.00PM
UK - United Kingdom's Industrial Production, 2.00PM
12/10/2021
JP - Japan's Producer Price Index, 7.50AM
MY - Malaysia's Industrial Production, 12.00PM
MY - Malaysia's Retail Sales, 12.00PM
UK - United Kingdom's Unemployment Rate, 2.00PM
EU - Eurozone's ZEW Economic Sentiment Index, 5.00PM
13/10/2021
JP - Japan's Machinery Orders, 7.50AM
EU - Eurozone's Industrial Production, 5.00PM
US - United States' Inflation Rate, 8.30PM
14/10/2021
US - United States' FOMC Minutes, 2.00AM
CN - China's Inflation Rate, 9.30AM
CN - China's Producer Price Index, 9.30AM
JP - Japan's Industrial Production, 12.30PM
US - United States' Producer Price Index, 8.30PM
15/10/2021
US - United States' Retail Sales, 8.30PM
Source: Bloomberg, M+ Online
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