M+ Online Morning Market Buzz - 18 Apr 22

Dow Jones: 34,451.23 pts (-113.36pts, -0.33%)
⬆ Resistance:  35600
⬇ Support:  33500

FBM KLCI: 1,589.01 pts (-6.69pts, -0.42%)
⬆ Resistance:  1650
⬇ Support:  1560

HSI Index: 21,518.08 pts (+143.71pts, +0.67%)
⬆ Resistance:  22200
⬇ Support:  20600

Crude Palm Oil: RM6,320 (+RM197, +3.22%)
⬆ Resistance:  6660
⬇ Support:  5720

Brent Oil: $111.70 (+$2.92, +2.68%)
⬆ Resistance:  114.70
⬇ Support:  95.70

Gold: $1,978.24 (+$4.53, +0.23%)
⬆ Resistance:  2030
⬇ Support:  1910

M+ Online Technical Focus - 18 Apr 22
RCE Capital Bhd: Financing activities to flourish again

Trading Catalyst
• History traces back to 1953 and has evolved throughout the years and is now involve in the provision of financing services for government servants, SMEs and payroll collections.
• To be boosted by easing of movement restrictions after Malaysia entered into the endemic phase, coupled with more sales and campaigns in the pipeline.
• Re-classification into shariah compliant securities since end-2021 may improve investors’ interests and strengthen trading activities.
• Technically, price has formed a flag-formation breakout above RM1.17, targeting the next resistances at RM1.25-1.30 with long term target set at RM1.40.

Technical View

(i) RCECAP (S: RM1.77, R: RM1.93-2.02, LT TP: RM2.09, CL: RM1.76)

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

Economic Releases For The Week (18/4/2022-22/4/2022):

18/4/2022
CN - China's 1Q22 GDP Growth Rate, 10.00AM
CN - China's Industrial Production, 10.00AM
CN - China's Retail Sales, 10.00AM
CN - China's 1Q22 Industrial Capacity Utilisation, 10.00AM

19/4/2022
JP - Japan's Industrial Production, 12.30PM

20/4/2022
EU - Eurozone's Industrial Production, 5.00PM
US - United States' Existing Home Sales, 10.00PM

21/4/2022
EU - Eurozone's Inflation Rate, 5.00PM

22/4/2022
JP - Japan's Inflation Rate, 7.30AM
MY - Malaysia's Inflation Rate, 12.00PM
UK - United Kingdom's Retail Sales, 2.00PM

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