M+ Online Morning Market Buzz - 15 Nov 21

Dow Jones: 36,100.31 pts (+179.08pts, +0.50%)
⬆ Resistance:  37300
⬇ Support:  35200

FBM KLCI: 1,531.22 pts (+12.37pts, +0.81%)
⬆ Resistance:  1570
⬇ Support:  1490

HSI Index: 25,327.97 pts (+79.98pts, +0.32%)
⬆ Resistance:  26100
⬇ Support:  24000

Crude Palm Oil: RM4,935 (+RM54, +1.11%)
⬆ Resistance:  5100
⬇ Support:  4620

Brent Oil: $82.17 (-$0.70, -0.84%)
⬆ Resistance:  87.30
⬇ Support:  79.70

Gold: $1,864.90 (+$2.79, +0.15%)
⬆ Resistance:  1910
⬇ Support:  1780

M+ Online Technical Focus - 15 Nov 21
Sedania Innovator Bhd: Firing all cylinders

Trading Catalyst
• Regarded as a full-fledged innovation house that involves in the financial technology (FinTech), green technology (GreenTech), and internet of things (IoT).
• Acquisition of Offspring Inc Sdn Bhd will generate new stream of revenue and has inked a memorandum of understanding with FCA Capital Sdn Bhd to bid for a digital Islamic bank license from Bank Negara Malaysia (BNM).
• Rising awareness of green energy solutions will benefits SEDANIA, while the group is also moving towards the digital health services and digital health passports.
• Technically, price has formed a flag-formation breakout above RM0.695, targeting the next resistances at RM0.785-0.84 with long term target at RM0.95.

Technical View

(i) SEDANIA (S: RM0.63, R: RM0.785-0.84, LT TP: RM0.95, CL: RM0.625)

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

Economic Releases For The Week (15/11/2021-19/11/2021):

15/11/2021
JP - Japan's 3Q21 GDP Growth Rate (Preliminary), 7.50AM
CN - China's Industrial Production, 10.00AM
CN - China's Retail Sales, 10.00AM
CN - China's Unemployment Rate, 10.00AM
JP - Japan's Industrial Production, 12.30PM

16/11/2021
UK - United Kingdom's Unemployment Rate, 3.00PM
EU - Eurozone's 3Q21 GDP Growth Rate (Preliminary), 6.00PM
US - United States' Retail Sales, 9.30PM
US - United States' Industrial Production, 10.15PM
US - United States' Manufacturing Production, 10.15PM

17/11/2021
JP - Japan's Machinery Orders, 7.50AM
UK - United Kingdom's Inflation Rate, 3.00PM
EU - Eurozone's Inflation Rate, 6.00PM

19/11/2021
JP - Japan's Inflation Rate, 7.30AM
UK - United Kingdom's Retail Sales, 3.00PM

Source: Bloomberg, M+ Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.