M+ Online Morning Market Buzz - 7 Feb 22

Dow Jones: 35,089.74 pts (-21.42pts, -0.06%)
⬆ Resistance:  36400
⬇ Support:  33900

FBM KLCI: 1,522.76 pts (-2.97pts, -0.19%)
⬆ Resistance:  1560
⬇ Support:  1490

HSI Index: 24,573.29 pts (+771.03pts, +3.24%)
⬆ Resistance:  25200
⬇ Support:  23100

Crude Palm Oil: RM5,617 (+RM104, +1.89%)
⬆ Resistance:  5820
⬇ Support:  5370

Brent Oil: $93.27 (+$2.16, +2.37%)
⬆ Resistance:  95.60
⬇ Support:  86.00

Gold: $1,808.28 (+$3.43, +0.19%)
⬆ Resistance:  1860
⬇ Support:  1750

M+ Online Technical Focus - 7 Feb 22
Harbour-Link Group Bhd: Freight rates still elevated

Trading Catalyst
• An integrated logistics services provider, shipping and engages in construction works, heavy lifting and haulage as well as property development with established footprint extends across the Intra-Asia region.
• Global supply chain disruption may persist till end-2022 amid the shortage of vessels, drivers, rising fuel prices and improving trade activities.
• Equipped with a healthy balance sheet with a net cash position of RM119.9m, translating to net cash per share of RM0.30 (c.24.1% of share price).
• Technically, price has experienced a short-term resistance breakout above RM1.21, targeting the next resistances at RM1.31-1.38 with long term target set at RM1.52.

Technical View

(i) HARBOUR (S: RM1.10, R: RM1.31-1.38, LT TP: RM1.52, CL: RM1.09)

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

Economic Releases For The Week (7/2/2022-11/2/2022):

7/2/2022
CN - China's Caixin Services PMI, 9.45AM
CN - China's Caixin Composite PMI, 9.45AM

8/2/2022
MY - Malaysia's Industrial Production, 12.00PM
MY - Malaysia's Unemployment Rate, 12.30PM

9/2/2022
MY - Malaysia's Retail Sales, 12.00PM

10/2/2022
JP - Japan's Producer Price Index, 7.50AM
US - United States' Inflation Rate, 9.30PM

11/2/2022
MY - Malaysia's 4Q21 GDP Growth Rate, 12.00PM
UK - United Kingdom's 4Q21 GDP Growth Rate (Preliminary), 3.00PM
UK - United Kingdom's Manufacturing Production, 3.00PM
UK - United Kingdom's Industrial Production, 3.00PM

Source: Bloomberg, M+ Online

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