M+ Online Morning Market Buzz - 26 Jan 22

Dow Jones: 34,297.73 pts (-66.77pts, -0.19%)
⬆ Resistance:  36300
⬇ Support:  32500

FBM KLCI: 1,508.91 pts (-12.95pts, -0.85%)
⬆ Resistance:  1580
⬇ Support:  1480

HSI Index: 24,243.61 pts (-412.85pts, -1.67%)
⬆ Resistance:  25500
⬇ Support:  23500

Crude Palm Oil: RM5,282 (-RM22, -0.42%)
⬆ Resistance:  5490
⬇ Support:  5010

Brent Oil: $88.20 (+$1.93, +2.24%)
⬆ Resistance:  91.30
⬇ Support:  83.40

Gold: $1,848.02 (+$4.96, +0.27%)
⬆ Resistance:  1900
⬇ Support:  1780

M+ Online Technical Focus - 26 Jan 22
Matrix Concepts Holdings Bhd: On track to meet sales target

Trading Catalyst
• One of the leading property developers in Malaysia with exposure in the construction, hospitality and education business segments.
• 1HFY22 sales at RM641.3m is largely on track to meet the sales target of RM1.20bn and RM1.60bn worth of properties to be launch in FY22.
• Attractive pricing and value of quality landed homes, which are tailored to cater for the mass market.
• Technically, traders may anticipate for a potential breakout above RM2.22, targeting the next resistances at RM2.30-2.35 with long term target at RM2.50."

Technical View

(i) MATRIX (S: RM2.09, R: RM2.30-2.35, LT TP: RM2.50, CL: RM2.08)

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

Source: Bloomberg, M+ Online

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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.

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.