M+ Online Morning Market Buzz - 10 Dec 21

Dow Jones: 35,754.69 pts (-0.06pts, -0.00%)
⬆ Resistance:  36600
⬇ Support:  33600

FBM KLCI: 1,501.79 pts (+7.76pts, +0.52%)
⬆ Resistance:  1540
⬇ Support:  1460

HSI Index: 24,254.86 pts (+257.99pts, +1.08%)
⬆ Resistance:  24900
⬇ Support:  22900

Crude Palm Oil: RM4,778 (-RM20, -0.42%)
⬆ Resistance:  5050
⬇ Support:  4640

Brent Oil: $74.42 (-$1.40, -1.85%)
⬆ Resistance:  78.30
⬇ Support:  67.90

Gold: $1,775.33 (-$7.66, -0.43%)
⬆ Resistance:  1830
⬇ Support:  1740

M+ Online Technical Focus - 10 Dec 21
KSL Holdings Bhd: Central region in focus

Trading Catalyst
• More than 30 years of experience in the property development sector, primarily in Johor and has since expanded into Klang Valley in recent years.
• Development of KSL Esplanade Mall that has a gross development value of RM600.0m will house more than 300 shops on 650,000 net lettable area and 3,000 parking bays is progressing smoothly.
• Healthy balance sheet with a net cash position of RM153.5m in 3QFY21, translating to net cash per share of 14.8 sen (c.23.1% of share price).
• Technically, traders may anticipate for a short-term resistance breakout above RM0.635 to target the next resistances at RM0.665-0.69 with long term target set at RM0.605.

Technical View

(i) KSL (S: RM0.605, R: RM0.665-0.69, LT TP: RM0.735, CL: RM0.60)

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

Source: Bloomberg, M+ Online

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