M+ Online Morning Market Buzz - 5 Mar 22
Dow Jones: 33,614.80 pts (-179.86pts, -0.53%)
⬆ Resistance: 34900
⬇ Support: 32500
FBM KLCI: 1,603.94 pts (-14.60pts, -0.90%)
⬆ Resistance: 1660
⬇ Support: 1570
HSI Index: 21,905.29 pts (-562.05pts, -2.50%)
⬆ Resistance: 23400
⬇ Support: 21500
Crude Palm Oil: RM6,276 (-RM532, -7.81%)
⬆ Resistance: 7260
⬇ Support: 5970
Brent Oil: $118.11 (+$7.65, +6.93%)
⬆ Resistance: 122.30
⬇ Support: 96.40
Gold: $1,970.70 (+$34.75, +1.79%)
⬆ Resistance: 2020
⬇ Support: 1860
M+ Online Technical Focus - 5 Mar 22
Oka Corporation Bhd: Re-looking into domestic construction activities
• Established in 1981 and has now positioned as one of the largest manufacturers of precast concrete products in Malaysia.
• After multiple lockdowns over the past 2 years, job flows may accelerate amid the upcoming mega infrastructure rail and transport-related projects, particularly in 2H22.
• Equipped with a healthy balance sheet with cash position of RM49.0m and zero borrowings; representing net cash per share of 20.0 sen (c.24.5% of share price).
• Technically, traders may anticipate for a breakout above RM0.82 to target the next resistances at RM0.85-0.875 with long term target at RM0.92.
(i) OKA (S: RM0.77, R: RM0.85-0.875, LT TP: RM0.92, CL: RM0.765)
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss
Economic Releases For The Week (7/3/2022-11/3/2022):
EU - Eurozone's 4Q21 GDP Growth Rate (3rd Estimate), 6.00PM
JP - Japan's 4Q21 GDP Growth Rate, 7.50AM
CN - China's Inflation Rate, 9.30AM
CN - China's Producer Price Index, 9.30AM
MY - Malaysia's Unemployment Rate, 12.00PM
JP - Japan's Producer Price Index, 7.50AM
EU - Eurozone's European Central Bank's Interest Rate Decision, 8.45PM
US - United States' Inflation Rate, 9.30PM
MY - Malaysia's Industrial Production, 12.00PM
UK - United Kingdom's Manufacturing Production, 3.00PM
UK - United Kingdom's Industrial Production, 3.00PM
Source: Bloomberg, M+ Online
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Created by mplus313 | Aug 19, 2022