M+ Online Morning Market Buzz - 22 Dec 21

Dow Jones: 35,492.70 pts (+560.54pts, +1.60%)
⬆ Resistance:  37000
⬇ Support:  34000

FBM KLCI: 1,492.59 pts (-1.31pts, -0.09%)
⬆ Resistance:  1540
⬇ Support:  1450

HSI Index: 22,971.33 pts (+226.47pts, +1.00%)
⬆ Resistance:  24300
⬇ Support:  22300

Crude Palm Oil: RM4,384 (+RM21, +0.48%)
⬆ Resistance:  4820
⬇ Support:  4170

Brent Oil: $73.98 (+$2.46, +3.44%)
⬆ Resistance:  77.20
⬇ Support:  67.90

Gold: $1,789.27 (-$1.66, -0.09%)
⬆ Resistance:  1860
⬇ Support:  1720

M+ Online Technical Focus - 22 Dec 21
Gagasan Nadi Gergas Bhd: Bolstered by sturdy orderbook

Trading Catalyst
• Principally involved in the building construction, provision of facility management services of student hostels and related facilities, operations of a district cooling system for the supply of chilled water and property development.
• Outstanding orderbook of more than RM1.50bn will provide earnings visibility over the next 3-4 years.
•Targets to launch the affordable homes project in Bukit Jelutong with GDV of approximately RM308.0m in 1H22."
• Technically, traders may anticipate for a potential breakout-pullback-continuation pattern above the daily EMA60, targeting the next resistances at RM0.365-0.40 with long term target set at RM0.45.

Technical View

(i) NADIBHD (S: RM0.3, R: RM0.365-0.4, LT TP: RM0.45, CL: RM0.295)

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

Source: Bloomberg, M+ Online

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