M+ Online Morning Market Buzz - 12 Jan 22

Dow Jones: 36,252.02 pts (+183.15pts, +0.51%)
⬆ Resistance:  37700
⬇ Support:  35000

FBM KLCI: 1,564.29 pts (+14.12pts, +0.91%)
⬆ Resistance:  1600
⬇ Support:  1510

HSI Index: 23,739.06 pts (-7.48pts, -0.03%)
⬆ Resistance:  24400
⬇ Support:  22300

Crude Palm Oil: RM5,069 (-RM27, -0.53%)
⬆ Resistance:  5230
⬇ Support:  4800

Brent Oil: $83.72 (+$2.85, +3.52%)
⬆ Resistance:  85.70
⬇ Support:  78.00

Gold: $1,821.60 (+$19.92, +1.11%)
⬆ Resistance:  1870
⬇ Support:  1750

M+ Online Technical Focus - 12 Jan 22
CTOS Digital Bhd: Leading Credit Reporting Agency

Trading Catalyst
• Regarded as one of leading credit reporting agencies (CRA) in Southeast Asia, whereby services are widely used across businesses as well as individuals.
• Acquisition of 49.0% stake in Juris Technologies Sdn Bhd that is pending for completion in 1Q22 alongside with the gradual ramp-up of stakes BOL Thailand and RAM Holdings Bhd will boost both the top and bottomline.
• Poised for multi-year growth that is leveraging onto the huge untapped potential customer base."
• Technically, traders may anticipate for a potential flag-formation breakout above RM1.89 to target the next resistances at RM1.96-2.00 with long term target at RM2.10."

Technical View

(i) CTOS (S: RM1.78, R: RM1.96-2.00, LT TP: RM2.10, CL: RM1.77)

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

Source: Bloomberg, M+ Online

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