M+ Online Morning Market Buzz - 28 Mar 22

Dow Jones: 34,861.24 pts (+153.30pts, +0.44%)
⬆ Resistance:  35700
⬇ Support:  33700

FBM KLCI: 1,603.30 pts (+4.33pts, +0.27%)
⬆ Resistance:  1640
⬇ Support:  1550

HSI Index: 21,404.88 pts (-541.07pts, -2.47%)
⬆ Resistance:  22900
⬇ Support:  20700

Crude Palm Oil: RM6,027 (+RM84, +1.41%)
⬆ Resistance:  6470
⬇ Support:  5590

Brent Oil: $120.65 (+$1.62, +1.36%)
⬆ Resistance:  126.30
⬇ Support:  105.00

Gold: $1,958.29 (+$0.60, +0.03%)
⬆ Resistance:  2010
⬇ Support:  1880

M+ Online Technical Focus - 28 Mar 22
Radiant Globaltech Bhd: Total solution provider specialist

Trading Catalyst
• Regarded as a total solution provider with services include retail hardware, retail software, as well as maintenance and technical support services. 
• Acquisition of 70.0% stake in World Portal Sdn Bhd for RM1.1m cash in 2021 that involves in the provision of offering to include offline-to-online omnichannel commerce automation may provide a synergistic effect to its existing business.
• To tap onto the riding adoption of digitalisation and automation from retailers in bid to combat the rising operational costs and provide better operation efficiency.
• Technically, traders may anticipate for a breakout above RM0.465 to target the next resistances at RM0.49-0.51 with long term target at RM0.55.

Technical View

(i) RGTECH (S: RM0.435, R: RM0.49-0.51, LT TP: RM0.55, CL: RM0.43)

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

Economic Releases For The Week (28/3/2022-1/4/2022):

29/3/2022
JP - Japan's Unemployment Rate, 7.30AM
MY - Malaysia's Producer Price Index, 12.00PM

30/3/2022
JP - Japan's Retail Sales, 7.50AM
EU - Eurozone's Economic Sentiment, 5.00PM
EU - Eurozone's Industrial Sentiment, 5.00PM
EU - Eurozone's Services Sentiment, 5.00PM
EU - Eurozone's Consumer Confidence, 5.00PM
US - United States' 4Q21 GDP Growth Rate, 8.30PM

31/3/2022
CN - China's NBS Manufacturing PMI, 9.30AM
CN - China's Non-Manufacturing PMI, 9.30AM
UK - United Kingdom's 4Q21 GDP Growth Rate, 2.00PM
EU - Eurozone's Unemployment Rate, 5.00PM
US - United States' Chicago PMI, 9.45PM

1/4/2022
JP - Japan's Jibun Bank Manufacturing PMI, 8.30AM
MY - Malaysia's S&P Global Manufacturing PMI, 8.30AM
CN - China's Caixin Manufacturing PMI, 9.45AM
EU - Eurozone's S&P Global Manufacturing PMI, 4.00PM
UK - United Kingdom's S&P Global Manufacturing PMI, 4.30PM
US - United States' Unemployment Rate, 8.30PM
US - United States' S&P Global Manufacturing PMI, 9.45PM
US - United States' ISM Manufacturing PMI, 10.00PM

Source: Bloomberg, M+ Online

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