M+ Online Morning Market Buzz - 9 Mar 22

Dow Jones: 32,632.64 pts (-184.74pts, -0.56%)
⬆ Resistance:  34900
⬇ Support:  32000

FBM KLCI: 1,546.87 pts (-25.69pts, -1.63%)
⬆ Resistance:  1660
⬇ Support:  1520

HSI Index: 20,765.87 pts (-291.76pts, -1.39%)
⬆ Resistance:  23200
⬇ Support:  20300

Crude Palm Oil: RM6,416 (+RM104, +1.62%)
⬆ Resistance:  7260
⬇ Support:  6050

Brent Oil: $127.98 (+$4.77, +3.87%)
⬆ Resistance:  142.00
⬇ Support:  104.70

Gold: $2,050.76 (+$52.65, +2.63%)
⬆ Resistance:  2120
⬇ Support:  1880

M+ Online Technical Focus - 9 Mar 22
Datasonic Group Bhd: Passport renewals to drive recovery

Trading Catalyst
• Regarded as one of the largest security-based ICT solution providers, including the smart card personalisation in Malaysia.
• Demand for passport chips renewals will shift into higher gear as travel relaxations took take precedence after countries re-open their borders overtime. 
• Equipped with a healthy balance sheet with a net cash position of RM99.4m, translating to net cash per share of RM0.03 (c.7.6% of share price).
• Technically, price has formed a hammer candle and traders may anticipate for a technical rebound to take place after the recovery above RM0.45 to target the next resistances at RM0.475-0.49 with long term target at RM0.52.

Technical View

(i) DSONIC (S: RM0.40, R: RM0.475-0.49, LT TP: RM0.52, CL: RM0.395)

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

Source: Bloomberg, M+ Online

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