M+ Online Morning Market Buzz - 30 Mar 22

Dow Jones: 35,294.19 pts (+338.30pts, +0.97%)
⬆ Resistance:  36100
⬇ Support:  33700

FBM KLCI: 1,583.42 pts (-14.53pts, -0.91%)
⬆ Resistance:  1640
⬇ Support:  1550

HSI Index: 21,927.63 pts (+242.66pts, +1.12%)
⬆ Resistance:  22900
⬇ Support:  20800

Crude Palm Oil: RM6,020 (-RM72, -1.20%)
⬆ Resistance:  6470
⬇ Support:  5710

Brent Oil: $110.23 (-$2.25, -2.00%)
⬆ Resistance:  126.30
⬇ Support:  102.80

Gold: $1,919.43 (-$3.37, -0.18%)
⬆ Resistance:  2010
⬇ Support:  1860

M+ Online Technical Focus - 30 Mar 22
Hextar Global Bhd: Still onto merger & acquisition spree

Trading Catalyst
• Over 500 products exported to countries like Vietnam, Hong Kong, the Philippines, Cambodia and Singapore through established distributors, hypermarkets, supermarkets and dealer network.
• Still onto M&A spree with proposed acquisition of 99.9% equity interest in Indonesia-based agrochemical company PT Agro Sentosa Raya (PTASR).
• Eyeing a slice of the digital banking license via a consortium with Arcadia Acres and Ihsan Equity.
• Technically, traders may anticipate for a potential breakout above RM1.62 to target the next resistances at RM1.71-1.77 with long term target at RM1.87.

Technical View

(i) HEXTAR (S: RM1.48, R: RM1.71-1.77, LT TP: RM1.87, CL: RM1.47)

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

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.