M+ Online Morning Market Buzz - 20 Dec 21

Dow Jones: 35,365.44 pts (-532.20pts, -1.48%)
⬆ Resistance:  37000
⬇ Support:  34600

FBM KLCI: 1,502.01 pts (+17.37pts, +1.17%)
⬆ Resistance:  1540
⬇ Support:  1450

HSI Index: 23,192.63 pts (-282.87pts, -1.20%)
⬆ Resistance:  24900
⬇ Support:  22700

Crude Palm Oil: RM4,408 (+RM8, +0.18%)
⬆ Resistance:  4940
⬇ Support:  4170

Brent Oil: $73.52 (-$1.50, -2.00%)
⬆ Resistance:  78.00
⬇ Support:  71.10

Gold: $1,798.11 (-$1.24, -0.07%)
⬆ Resistance:  1860
⬇ Support:  1720

M+ Online Technical Focus - 20 Dec 21
Tasco Bhd: Capitalising on high freight rates

Trading Catalyst
• Engaged as a one-stop total logistics solutions provider, equipped with 24 logistics centres and 2,200 employees in Malaysia in FY21.
• Elevated freight rates to extend into 2022 amid the robust trade activities that is still coping to clear the supply chain backlog and bottlenecks. 
• Classified under the Securities Commission Malaysia (SC)'s shariah-compliant securities list will boost its name into the shariah-compliant funds’ radar.
• Technically, price has experienced a short-term resistance breakout above RM1.15, targeting the next resistances at RM1.23-1.27 with long term target set at RM1.40.

Technical View

(i) TASCO (S: RM1.10, R: RM1.23-1.27, LT TP: RM1.40, CL: RM1.09)

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

M+ Online Market Wrap - 17 Dec 21

FBM KLCI: 1,502.01 pts (+17.37pts, +1.17%)
Bucking the regional benchmark following the selloff on Wall Street, the FBM KLCI (+1.2%) extended its gains for the third straight session to close above the critical 1,500 level on gains from selected heavyweights led by TENAGA (+27.0 sen). Market breadth was almost even with the gainers and losers on a 1-to-1 ratio. The healthcare sector (+2.5%) rallied as investors piled into glove stocks such as TOPGLOV (+12.0 sen), HARTA (+22.0 sen), and SUPERMX (+15.0 sen). 

Top 3 Active stocks:
SAPNRG (5218): RM0.045 (-0.5 sen)
ATAIMS (8176): RM0.68 (unch)
PERMAJU (7080): RM0.04 (unch) 

Volume: 2.81 bn (100-day avg vol: 4.02 bn)
Value: 2.74 bn (100-day avg val: 2.76 bn)
Market Breadth: ⬆425 ⬇434
Crude palm oil: RM4,432 (+RM33)
Dow Futures: 35,772 pts (-19 pts)

Source: Bloomberg, M+ Online

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