M+ Online Morning Market Buzz - 4 Apr 22

Dow Jones: 34,818.27 pts (+139.92pts, +0.40%)
⬆ Resistance:  36100
⬇ Support:  33900

FBM KLCI: 1,602.41 pts (+15.05pts, +0.95%)
⬆ Resistance:  1640
⬇ Support:  1550

HSI Index: 22,039.55 pts (+42.70pts, +0.19%)
⬆ Resistance:  22900
⬇ Support:  20800

Crude Palm Oil: RM5,566 (-RM139, -2.44%)
⬆ Resistance:  6220
⬇ Support:  5370

Brent Oil: $104.39 (-$3.52, -3.26%)
⬆ Resistance:  122.30
⬇ Support:  100.40

Gold: $1,925.68 (-$11.76, -0.61%)
⬆ Resistance:  2000
⬇ Support:  1860

M+ Online Technical Focus - 4 Apr 22
EP Manufacturing Bhd: Venturing into EV space

Trading Catalyst
• Manufactures a wide range of products such as engineering plastic components, metal stamping parts and/or modular assemblies for both domestic and international automotive OEMs.
• Venturing into the manufacturing and distribution of two-wheeled electric vehicles (EVs) for Malaysia and South East Asia market.
• Leveraging onto the new vehicles total industry volume (TIV) that are projected to grow 17.9% YoY to 600,000 2022.
• Technically, traders may anticipate for a potential breakout above RM1.24 to target the next resistances at RM1.36-1.40 with long term target at RM1.50.

Technical View

(i) EPMB (S: RM1.14, R: RM1.36-1.40, LT TP: RM1.50, CL: RM1.13)

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

Economic Releases For The Week (4/3/2022-8/4/2022):

4/4/2022
US - United States' Factory Orders, 10.00PM

5/4/2022
JP - Japan's Jibun Bank Services PMI, 8.30AM
JP - Japan's Jibun Bank Composite PMI, 8.30AM
EU - Eurozone's S&P Global Services PMI, 4.00PM
EU - Eurozone's S&P Global Composite PMI, 4.00PM
UK - United Kingdom's S&P Global Services PMI, 4.30PM
UK - United Kingdom's S&P Global Composite PMI, 4.30PM
US - United States' S&P Global Services PMI, 9.45PM
US - United States' S&P Global Composite PMI, 9.45PM
US - United States' ISM Non-Manufacturing PMI, 10.00PM

6/4/2022
CN - China's Caixin Services PMI, 9.45AM
CN - China's Caixin Composite PMI, 9.45AM
EU - Eurozone's Producer Price Index, 5.00PM

7/4/2022
US - United States' FOMC Minutes, 2.00AM
EU - Eurozone's Retail Sales, 5.00PM

8/4/2022
MY - Malaysia's Unemployment Rate, 12.00PM
JP - Japan's Consumer Confidence, 1.00PM

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.