M+ Online Technical Focus - 24 Jan 22
Able Global Bhd: Turning to the west

Trading Catalyst
• Total production capacity of 280,000MT for dairy and 48,000MT for tin with products exported to more than 40 countries worldwide.
• Mexico foray will expand geographical presence and allows ABLEGLOB to mitigate the risk of logistical costs and strengthen their foothold in both the North and South America markets.
• Obtained the Safe Quality Food (SQF) certification in order to list its items in Walmart and other big supermarket chains in the US.
• Technically, traders may anticipate for a potential rebound above RM1.62, targeting the next resistances at RM1.67-1.73 with long term target at RM1.84.

Technical View

(i) ABLEGLOB (S: RM1.53, R: RM1.67-1.73, LT TP: RM1.84, CL: RM1.52)

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

M+ Online Technical Focus - 24 Jan 22
Able Global Bhd: Turning to the west

Trading Catalyst
• Total production capacity of 280,000MT for dairy and 48,000MT for tin with products exported to more than 40 countries worldwide.
• Mexico foray will expand geographical presence and allows ABLEGLOB to mitigate the risk of logistical costs and strengthen their foothold in both the North and South America markets.
• Obtained the Safe Quality Food (SQF) certification in order to list its items in Walmart and other big supermarket chains in the US.
• Technically, traders may anticipate for a potential rebound above RM1.62, targeting the next resistances at RM1.67-1.73 with long term target at RM1.84.

Technical View

(i) ABLEGLOB (S: RM1.53, R: RM1.67-1.73, LT TP: RM1.84, CL: RM1.52)

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

Economic Releases For The Week (24/1/2022-28/1/2022):

25/1/2022
US - United States' Consumer Confidence, 11.00PM

26/1/2022
US - United States' New Home Sales, 11.00PM

27/1/2022
US - United States' Federal Reserve Interest Rate Decision, 3.00AM
MY - Malaysia's Producer Price Index, 12.00PM
US - United States' 4Q21 GDP Growth Rate (Advance), 3.00AM
US - United States' Pending Home Sales, 11.00PM

28/1/2022
EU - Eurozone's Economic Sentiment, 6.00PM
EU - Eurozone's Industrial Sentiment, 6.00PM
EU - Eurozone's Services Sentiment, 6.00PM
EU - Eurozone's Consumer Confidence, 6.00PM

Source: Bloomberg, M+ Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.