M+ Online Morning Market Buzz - 10 Nov 21

Dow Jones: 36,319.98 pts (-112.24pts, -0.31%)
⬆ Resistance:  37300
⬇ Support:  35200

FBM KLCI: 1,524.03 pts (-11.38pts, -0.74%)
⬆ Resistance:  1580
⬇ Support:  1490

HSI Index: 24,813.13 pts (+49.36pts, +0.20%)
⬆ Resistance:  25800
⬇ Support:  24200

Crude Palm Oil: RM4,792 (-RM103, -2.10%)
⬆ Resistance:  5190
⬇ Support:  4620

Brent Oil: $84.78 (+$1.35, +1.62%)
⬆ Resistance:  87.10
⬇ Support:  78.60

Gold: $1,831.92 (+$7.74, +0.42%)
⬆ Resistance:  1870
⬇ Support:  1730

M+ Online Technical Focus - 10 Nov 21
HPMT Holdings Bhd: Benefiting from stronger automation processes

Trading Catalyst
• One of the leading high performances cutting tools manufacturer in South East Asia, supported by distributors spread across more than 30 countries.
• Undertaking a relatively small-scale expansion that will increase monthly production capacity from 148,000 pieces of cutting tools to 155,000 pieces in 4Q21.
• Rising adoption of automation process across industries will boost the usage of machine tooling and consequently benefits HPMT.
• Technically, price has formed a short-term resistance breakout above RM0.635, targeting the next resistances at RM0.685-0.73 with long term target at RM0.80.

Technical View

(i) HPMT (S: RM0.60, R: RM0.685-0.73, LT TP: RM0.80, CL: RM0.595)

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

Source: Bloomberg, M+ Online

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