M+ Online Morning Market Buzz - 8 Dec 21

Dow Jones: 35,719.43 pts (+492.40pts, +1.40%)
⬆ Resistance:  36600
⬇ Support:  33400

FBM KLCI: 1,497.97 pts (+14.52pts, +0.98%)
⬆ Resistance:  1550
⬇ Support:  1460

HSI Index: 23,983.66 pts (+634.28pts, +2.72%)
⬆ Resistance:  24500
⬇ Support:  22900

Crude Palm Oil: RM4,929 (+RM7, +0.14%)
⬆ Resistance:  5040
⬇ Support:  4480

Brent Oil: $75.44 (+$2.36, +3.23%)
⬆ Resistance:  77.80
⬇ Support:  64.50

Gold: $1,784.13 (+$5.46, +0.31%)
⬆ Resistance:  1840
⬇ Support:  1730

M+ Online Technical Focus - 8 Dec 21
Aemulus Holdings Bhd: China’s venture bears fruit

Trading Catalyst
• Engages in the design and development of automated test equipment (ATE) and test and measuring instruments (TMI) for the semiconductor industry.
• The 40:60 joint venture with Tangren Microtelligence Co Ltd bears fruit, given that contribution from China makes up to 39.3% total revenue in FY21 as oppose to only 11.3% recorded in FY20.
• Counts of several institutional funds such as Kenanga Growth Fund, Manulife Investment Progress Fund, Hong Leong Balanced Fund and among others in their top 30 shareholders list.
• Technically, traders may anticipate for a breakout above RM1.13 to target the next resistances at RM1.19-1.25 with long term target set at RM1.40.

Technical View

(i) AEMULUS (S: RM1.04, R: RM1.19-1.25, LT TP: RM1.40, CL: RM1.03)

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

Source: Bloomberg, M+ Online

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