KLSE Traders Update and Ideas

Daily Market Update - 7 Mar 2022

mplus313
Publish date: Mon, 07 Mar 2022, 09:46 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web. As I am a Dealer's Representative, I watch and follow the market quite closely, and send updates to my clients regularly.

The daily market update is usually sent out to client's mobile in the morning. While the market summary is sent out in the evening.

Want to receive the daily market update straight in your mobile phone? Open a trading account: http://klse.i3investor.com/jsp/partner/my/mplus.jsp

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

Trading Catalyst
• 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.

Technical View

(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):

8/3/2022
EU - Eurozone's 4Q21 GDP Growth Rate (3rd Estimate), 6.00PM

9/3/2022
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

10/3/2022
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

11/3/2022
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

 

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.

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