M+ Online Morning Market Buzz - 28 Feb 22

Dow Jones: 34,058.75 pts (+834.92pts, +2.51%)
⬆ Resistance:  34800
⬇ Support:  31700

FBM KLCI: 1,591.72 pts (+17.83pts, +1.13%)
⬆ Resistance:  1640
⬇ Support:  1540

HSI Index: 22,767.18 pts (-134.38pts, -0.59%)
⬆ Resistance:  24800
⬇ Support:  22300

Crude Palm Oil: RM5,966 (-RM487, -7.55%)
⬆ Resistance:  6600
⬇ Support:  5500

Brent Oil: $97.93 (-$1.15, -1.16%)
⬆ Resistance:  108.00
⬇ Support:  90.80

Gold: $1,889.34 (-$14.55, -0.77%)
⬆ Resistance:  2020
⬇ Support:  1850

M+ Online Technical Focus - 28 Feb 22
*My E.G. Services Bhd: Leveraging on adoption of digital services *

Trading Catalyst
• Regarded as a concessionaire for Malaysian Electronic-Government (E-Government) MSC flagship application. Builds, operates and owns the electronic channel to deliver services from various Government agencies to Malaysia citizens and businesses.
• Transaction volumes for online products and services to remain in a bright spot for 2022 amid the rising adoption of digital services. 
• Rising daily Covid-19 cases to boost health screening and quarantine collection services known as MySafeTravel and MySafeQuarantine.
• Technically, price has experienced a breakout above RM0.98 and may trend higher to target the next resistances at RM1.05-1.10 with long term target at RM1.15.

Technical View

(i) MYEG (S: RM0.92, R: RM1.05-1.10, LT TP: RM1.15, CL: RM0.915)

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

Economic Releases For The Week (28/2/2022-4/3/2022):

28/2/2022
JP - Japan's Retail Sales, 7.50AM
MY - Malaysia's Producer Price Index, 12.00PM

3/3/2022
JP - Japan's Jibun Bank Manufacturing PMI, 8.30AM
MY - Malaysia's Markit Manufacturing PMI, 8.30AM
CN - China's NBS Manufacturing PMI, 9.30AM
CN - China's NBS Non Manufacturing PMI, 9.30AM
CN - China's Caixin Manufacturing PMI, 9.45AM
EU - Eurozone's Markit Manufacturing PMI, 5.00PM
UK - United Kingdom's Markit Manufacturing PMI, 5.30PM
US - United States' Markit Manufacturing PMI, 10.45PM
US - United States' ISM Manufacturing PMI, 11.00PM

3/3/2022
JP - Japan's Jibun Bank Services PMI, 8.30AM
JP - Japan's Jibun Bank Composite PMI, 8.30AM
CN - China's Caixin Services PMI, 9.45AM
CN - China's Caixin Composite PMI, 9.45AM
JP - Japan's Consumer Confidence, 1.00PM
MY - Malaysia's Bank Negara's Interest Rate Decision, 3.00PM
EU - Eurozone's Markit Services PMI, 5.00PM
EU - Eurozone's Markit Composite PMI, 5.00PM
UK - United Kingdom's Markit Services PMI, 5.30PM
UK - United Kingdom's Markit Composite PMI, 5.30PM
EU - Eurozone's Unemployment Rate, 6.00PM
EU - Eurozone's Producer Price Index, 6.00PM
US - United States' Markit Services PMI, 10.45PM
US - United States' Markit Composite PMI, 10.45PM
US - United States' ISM Non-Manufacturing PMI, 11.00PM
US - United States' Factory Orders, 11.00PM

4/3/2022
JP - Japan's Unemployment Rate, 7.30AM
EU - Eurozone's Retail Sales, 6.00PM
US - United States' Unemployment Rate, 9.30PM

Source: Bloomberg, M+ Online

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