M+ Online Morning Market Buzz - 18 Oct 21

Dow Jones: 35,294.76 pts (+382.20pts, +1.09%)
⬆ Resistance:  36100
⬇ Support:  33500

FBM KLCI: 1,598.28 pts (+5.76pts, +0.36%)
⬆ Resistance:  1640
⬇ Support:  1540

HSI Index: 25,330.96 pts (+368.37pts, +1.48%)
⬆ Resistance:  26000
⬇ Support:  24400

Crude Palm Oil: RM4,859 (+RM84, +1.76%)
⬆ Resistance:  5140
⬇ Support:  4660

Brent Oil: $84.86 (+$0.86, +1.02%)
⬆ Resistance:  86.90
⬇ Support:  80.60

Gold: $1,767.62 (-$28.25, -1.57%)
⬆ Resistance:  1840
⬇ Support:  1720

M+ Online Technical Focus – 18 Oct 21
Hextar Global Bhd: On merger & acquisition spree

Trading Catalyst
• Over 500 products exported to countries like Vietnam, Hong Kong, the Philippines, Cambodia and Singapore through established distributors, hypermarkets, supermarkets and dealer network.
• Acquisition of Chempro Group and Noble group comes with a collective profit guarantee of an aggregate of RM81.0m over 3 years, while impending acquisition of ENRA Kimia Sdn Bhd will strengthen bottomline.
• Entered into a consortium agreement with Arcadia Acres and Ihsan Equity for the application a digital banking licence.
• Technically, traders may anticipate for a potential flag-formation breakout above RM1.42 to target the next resistances at RM1.50-1.55 with long term target at RM1.65.

Technical View

(i) HEXTAR (S: RM1.30, R: RM1.50-1.55, LT TP: RM1.65, CL: RM1.29)

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

Economic Releases For The Week (18/10/2021-22/10/2021):

18/10/2021
CN - China's 3Q21 GDP Growth Rate, 10.00AM
CN - China's Industrial Production, 10.00AM
CN - China's Retail Sales, 10.00AM
CN - China's Unemployment Rate, 10.00AM
US - United States' Industrial Production, 9.15PM
US - United States' Manufacturing Production, 9.15PM

20/10/2021
UK - United Kingdom's Inflation Rate, 2.00PM
EU - Eurozone's Inflation Rate, 5.00PM

21/10/2021
US - United States' Existing Home Sales, 10.00PM

22/10/2021
JP - Japan's Inflation Rate, 7.30AM
MY - Malaysia's Inflation Rate, 12.00PM
UK - United Kingdom's Retail Sales, 2.00PM

Source: Bloomberg, M+ Online

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