M+ Online Morning Market Buzz - 17 May 22

Dow Jones: 32,223.42 pts (+26.76pts, +0.08%)
⬆ Resistance:  33500
⬇ Support:  30700

FBM KLCI: 1,544.41 pts (+5.61pts, +0.36%)
⬆ Resistance:  1600
⬇ Support:  1510

HSI Index: 19,950.21 pts (+51.44pts, +0.26%)
⬆ Resistance:  20600
⬇ Support:  18800

Crude Palm Oil: RM6,139 (+RM8, +0.13%)
⬆ Resistance:  6720
⬇ Support:  6140

Brent Oil: $114.24 (+$2.69, +2.41%)
⬆ Resistance:  117.10
⬇ Support:  99.30

Gold: $1,824.14 (+$12.35, +0.68%)
⬆ Resistance:  1910
⬇ Support:  1760

M+ Online Technical Focus - 17 May 22
D&O Green Technologies Bhd: Signs of bright sparks

Trading Catalyst
• One of the leading light-emitting diodes (LEDs) makers for automotive manufacturers in the world offering high-performance and innovative solutions.
• Allocated capital expenditure of RM150.0m for 2022, mainly to cater for new production lines at Plant 2 that may increase production capacity by 20.0-30.0%.
• Leverage onto the rising adoption of LED products as global automotive lighting market valued at US$37.74bn in 2020 expected to increase to US$57.01bn in 2025.
• Technically, price is forming a double bottom formation and may rebound to target the resistances at RM3.78-RM4.00 with long term target at RM4.73.

Technical View

(i) D&O (S: RM3.4, R: RM3.78-4, LT TP: RM4.73, CL: RM3.39)

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

Economic Releases For The Week (16/5/2022-20/5/2022):

16/5/2022
JP - Japan's Producer Price Index, 7:50AM
CN - China's Industrial Production, 10:00AM
CN - China's Retail Sales, 10:00AM
CN - China's Unemployment Rate, 10:00AM

17/5/2022
UK - United Kingdom's Unemployment Rate, 2:00PM
EU - Eurozone's 1Q22 GDP Growth Rate (2nd Estimate), 5.00PM
US - United States' Retail Sales, 8:30PM
US - United States' Industrial Production, 9:15PM
US - United States' Manufacturing Production, 9:15PM

18/5/2022
JP - Japan's 1Q2021 GDP Growth Rate (Preliminary) , 8:30AM
JP - Japan's Industrial Production, 12:30PM
UK - United Kingdom's Inflation Rate, 2:00PM
EU - Eurozone's Inflation Rate, 5:00PM

19/5/2022
JP - Japan's Machinery Orders, 8:30AM
US - United States' Existing Home Sales, 10:00PM

20/5/2022
JP - Japan's Inflation Rate, 7:30AM
UK - United Kingdom's Retail Sales, 2:00PM

Source: Bloomberg, M+ Online

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