M+ Online Morning Market Buzz - 25 Apr 22

Dow Jones: 33,811.40 pts (-981.36pts, -2.82%)
⬆ Resistance:  36300
⬇ Support:  33100

FBM KLCI: 1,601.97 pts (+3.65pts, +0.23%)
⬆ Resistance:  1640
⬇ Support:  1550

HSI Index: 20,638.52 pts (-43.70pts, -0.21%)
⬆ Resistance:  21700
⬇ Support:  19800

Crude Palm Oil: RM6,355 (+RM42, +0.67%)
⬆ Resistance:  6680
⬇ Support:  6100

Brent Oil: $106.65 (-$1.68, -1.55%)
⬆ Resistance:  117.20
⬇ Support:  102.60

Gold: $1,931.60 (-$20.02, -1.03%)
⬆ Resistance:  2040
⬇ Support:  1890

M+ Online Technical Focus - 25 Apr 22
KSL Holdings Bhd: Benefitting from re-opening of borders

Trading Catalyst
• More than 30 years of experience in the property development sector, primarily in Johor and has since expanded into Klang Valley in recent years.
• Development of KSL Esplanade Mall that has a gross development value of RM600.0m will house more than 300 shops on 650,000 net lettable area and 3,000 parking bays may attract crowds from neighboring districts.
• Operates in a healthy balance sheet in FY21 with a net cash position of RM145.1m, translating to net cash per share of 14.0 sen (c.17.2% of share price).
• Technically, price has recovered above EMA20 and may trend higher to target the next resistances at RM0.85-0.88 with long term target set at RM0.95.

Technical View

(i) KSL (S: RM0.77, R: RM0.85-0.88, LT TP: RM0.95, CL: RM0.765)

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

Economic Releases For The Week (25/4/2022-29/4/2022):

26/4/2022
JP - Japan's Unemployment Rate, 7.30AM
US - United States' New Home Sales, 10.00PM

27/4/2022
US - United States' Pending Home Sales, 10.00PM

28/4/2022
JP - Japan's Retail Sales, 7.50AM
JP - Japan's Bank of Japan Interest Rate Decision, 11.00AM
MY - Malaysia's Producer Price Index, 12.00PM
EU - Eurozone's Economic Sentiment, 5.00PM
EU - Eurozone's Consumer Confidence, 5.00PM
EU - Eurozone's Industrial Sentiment, 5.00PM
EU - Eurozone's Services Sentiment, 5.00PM
US - United States' 1Q22 GDP Growth Rate (Advance Reading), 8.30PM

29/4/2022
CN - China's Caixin Manufacturing PMI, 9.45AM
JP - Japan's Consumer Confidence, 1.00PM
EU - Eurozone's 1Q22 GDP Growth Rate (Flash), 5.00PM

Source: Bloomberg, M+ Online

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