M+ Online Morning Market Buzz - 14 Feb 22

Dow Jones: 34,738.06 pts (-503.53pts, -1.43%)
⬆ Resistance:  36600
⬇ Support:  34000

FBM KLCI: 1,578.89 pts (+8.79pts, +0.56%)
⬆ Resistance:  1620
⬇ Support:  1500

HSI Index: 24,906.66 pts (-17.69pts, -0.07%)
⬆ Resistance:  25600
⬇ Support:  23700

Crude Palm Oil: RM5,573 (+RM38, +0.69%)
⬆ Resistance:  5870
⬇ Support:  5190

Brent Oil: $94.44 (+$3.03, +3.31%)
⬆ Resistance:  97.60
⬇ Support:  88.20

Gold: $1,858.76 (+$31.91, +1.75%)
⬆ Resistance:  1910
⬇ Support:  1770

M+ Online Technical Focus - 14 Feb 22
Sunway Real Estate Investment Trust: Improving retail footfall

Trading Catalyst
• One of the largest diversified REITs in Malaysia with 18 properties in Malaysia valued at RM8.74bn and maintained a healthy average occupancy rate across each segment; retail (97%), hotel (32%), office (84%), services and industrial (100%).
• Embarking on the expansion of Sunway Carnival Shopping Mall and Sunway Resort Hotel refurbishment with both expected to be completed in 1Q22.
• Transitioning into Phase 4 of the National Recovery Plan (NRP) on 3 January 2022 is a boon for retail and tourism sectors.
• Technically, traders may anticipate for a breakout above RM1.41, to target the next resistances at RM1.46-1.48 with long term target set at RM1.56.

Technical View

(i) SUNREIT (S: RM1.35, R: RM1.46-1.49, LT TP: RM1.56, CL: RM1.34)

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

Economic Releases For The Week (14/2/2022-18/2/2022):

14/2/2022
EU - Eurozone's Industrial Production, 6.00PM

15/2/2022
JP - Japan's 4Q21 GDP Growth Rate (Preliminary), 7.50AM
JP - Japan's Industrial Production, 12.30PM
UK - United Kingdom's Unemployment Rate, 3.00PM
EU - Eurozone's 4Q21 GDP Growth Rate (Preliminary), 6.00PM
EU - Eurozone's ZEW Economic Sentiment Index, 6.00PM
US - United States' Producer Price Index, 9.30PM

16/2/2022
CN - China's Inflation Rate, 9.30AM
CN - China's Producer Price Index, 9.30AM
UK - United Kingdom's Inflation Rate, 3.00PM
US - United States' Retail Sales, 9.30PM
US - United States' Industrial Production, 10.15PM
US - United States' Manufacturing Production, 10.15PM

17/2/2022
US - United States' FOMC Minutes, 3.00AM
JP - Japan's Machinery Orders, 7.50AM

18/2/2022
JP - Japan's Inflation Rate, 7.30AM
UK - United Kingdom's Retail Sales, 3.00PM
US - United States' Existing Home Sales, 11.00PM

Source: Bloomberg, M+ Online

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