M+ Online Morning Market Buzz - 17 Nov 21

Dow Jones: 36,142.22 pts (+54.77pts, +0.15%)
⬆ Resistance:  37100
⬇ Support:  35200

FBM KLCI: 1,522.89 pts (+0.55pts, +0.04%)
⬆ Resistance:  1570
⬇ Support:  1490

HSI Index: 25,713.78 pts (+322.87pts, +1.27%)
⬆ Resistance:  26300
⬇ Support:  24000

Crude Palm Oil: RM4,788 (+RM22, +0.46%)
⬆ Resistance:  5100
⬇ Support:  4690

Brent Oil: $82.43 (+$0.38, +0.46%)
⬆ Resistance:  87.3
⬇ Support:  79.1

Gold: $1,850.63 (-$12.21, -0.66%)
⬆ Resistance:  1920
⬇ Support:  1790

M+ Online Technical Focus - 17 Nov 21
Perak Transit Bhd: Riding onto revival of tourism activities

Trading Catalyst
• Principally involved in the operations of integrated public transportation terminal and the provision of public bus services as well as managing 21 kiosks and push carts, 57 units of retail outlets and 4 petrol stations at Perak.
• Earnings growth will be spurred by the new terminal (Bidor Sentral), increase in Kampar Putra Sentral’s occupancy rate and additional third-party terminal management contracts.
• Riding onto the revival of tourism activities with interstate travel allowed since October 2021 and international tourists are expected to flock into Malaysia in 2022.
• Technically, price has formed a flag-formation breakout above RM0.695, targeting the next resistances at RM0.73-0.755 with long term target at RM0.85.

Technical View

(i) PTRANS (S: RM0.655, R: RM0.73-0.755, LT TP: RM0.85, CL: RM0.65)

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

Source: Bloomberg, M+ Online

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