M+ Online Morning Market Buzz - 25 Oct 21

Dow Jones: 35,677.02 pts (+73.94pts, +0.21%)
⬆ Resistance:  36500
⬇ Support:  34400

FBM KLCI: 1,588.08 pts (-3.54pts, -0.22%)
⬆ Resistance:  1650
⬇ Support:  1560

HSI Index: 26,126.93 pts (+109.40pts, +0.42%)
⬆ Resistance:  26800
⬇ Support:  24700

Crude Palm Oil: RM4,924 (-RM44, -0.89%)
⬆ Resistance:  5330
⬇ Support:  4720

Brent Oil: $85.53 (+$0.92, +1.09%)
⬆ Resistance:  87.90
⬇ Support:  81.70

Gold: $1,792.65 (+$9.75, +0.55%)
⬆ Resistance:  1860
⬇ Support:  1730

M+ Online Technical Focus - 25 Oct 21
SCGM Bhd: Improving production capacity & efficiency

Trading Catalyst
• Regarded as one of the largest thermoform F&B packaging manufacturers in Malaysia with extensive network distribution in Singapore, Australia, Vietnam, Brunei and New Zealand market.
• Expansion through the purchase of additional automatic thermoforming machines which will boost production capacity and improve operating efficiency.
• Manageable net gearing of 0.3x in 1QFY22, suggesting some room to tap into external financing for their expansion plans.
• Technically, price has formed a flag-formation breakout above RM2.52, targeting the next resistances at RM2.65-2.80 with long term target at RM3.00.

Technical View

(i) SCGM (S: RM2.35, R: RM2.65-2.80, LT TP: RM3.00, CL: RM2.34)

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

Economic Releases For The Week (25/10/2021-29/10/2021):

26/10/2021
US - United States' Consumer Confidence, 10.00PM
US - United States' New Home Sales, 10.00PM

29/10/2021
JP - Japan's Bank of Japan's Interest Rate Decision, 11.00AM
MY - Malaysia's Producer Price Index, 12.00PM
EU - Eurozone's Economic Sentiment, 6.00PM
EU - Eurozone's Consumer Confidence, 6.00PM
EU - Eurozone's Industrial Sentiment, 6.00PM
EU - Eurozone's Services Sentiment, 6.00PM
EU - Eurozone's European Central Bank's Interest Rate Decision, 7.45PM
US - United States' 3Q21 GDP Growth Rate (Advance), 8.30PM
US - United States' Pending Home Sales, 10.00PM

29/10/2021
JP - Japan's Unemployment Rate, 7.50AM
JP - Japan's Retail Sales, 7.50AM
JP - Japan's Consumer Confidence, 1.00PM
MY - Malaysia's Budget 2022, 4.00PM
EU - Eurozone's 3Q21 GDP Growth Rate (Flash), 6.00PM
US - United States' Chicago PMI, 9.45PM

Source: Bloomberg, M+ Online

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