KLSE Traders Update and Ideas

Daily Market Update - 11 May 2022

Publish date: Wed, 11 May 2022, 08:35 AM
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This blog provides market updates and trading ideas that I gather from around the web.

M+ Online Morning Market Buzz - 11 May 22

Dow Jones: 32,160.74 pts (-84.96pts, -0.26%)
⬆ Resistance:  34900
⬇ Support:  31300

FBM KLCI: 1,554.58 pts (+5.40pts, +0.35%)
⬆ Resistance:  1650
⬇ Support:  1520

HSI Index: 19,633.69 pts (-368.27pts, -1.84%)
⬆ Resistance:  21800
⬇ Support:  18800

Crude Palm Oil: RM6,361 (+RM48, +0.76%)
⬆ Resistance:  7070
⬇ Support:  6140

Brent Oil: $102.46 (-$3.48, -3.28%)
⬆ Resistance:  116.30
⬇ Support:  99.60

Gold: $1,838.27 (-$15.90, -0.86%)
⬆ Resistance:  1950
⬇ Support:  1800

M+ Online Technical Focus - 11 May 22
SDS Group Bhd: Riding onto retail consumption improvement

Trading Catalyst
• Engages in production and distribution of bakery products that are marketed under the trademarked brands of “Top Baker” and “Daily’s”.
• Retail expansion plans in the Central region may take place in 2022 and aims to strengthen the distribution network in the Northern region aside from its existing network.
• Re-opening of international travel borders bodes well for consumption, particularly in the southern region alongside with the firmer retail activities.
• Technically, price has formed a flag-formation breakout above RM0.37, targeting the next resistances at RM0.405-0.435 with long term target at RM0.485.

Technical View

(i) SDS (S: RM0.34, R: RM0.405-0.435, LT TP: RM0.485, CL: RM0.335)

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

Source: Bloomberg, M+ Online



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