M+ Online Morning Market Buzz - 25 May 22

Dow Jones: 31,928.62 pts (+48.38pts, +0.15%)
⬆ Resistance:  33200
⬇ Support:  30100

FBM KLCI: 1,531.30 pts (-11.23pts, -0.73%)
⬆ Resistance:  1600
⬇ Support:  1510

HSI Index: 20,112.10 pts (-357.96pts, -1.75%)
⬆ Resistance:  21300
⬇ Support:  19600

Crude Palm Oil: RM6,456 (-RM26, -0.40%)
⬆ Resistance:  6700
⬇ Support:  5810

Brent Oil: $113.56 (+$0.14, +0.12%)
⬆ Resistance:  117.00
⬇ Support:  103.60

Gold: $1,866.45 (+$12.86, +0.69%)
⬆ Resistance:  1910
⬇ Support:  1780

M+ Online Technical Focus - 25 May 22
Kein Hing International Bhd: New plant at Vietnam to scale growth

Trading Catalyst
• Established since 1981 and engages in the supply of parts and metal components to various industries such as automotive, electrical & electronics, home appliances and audio-visual equipment industries.
• Undertaking expansion at Vietnam that entails the construction of a single-storey factory with a total built-up of approximately 53,000 sqf.
"• Demand for its products to remain resilient on the back of the higher sales orders from both the automotive and home appliances industry.
• Demand for its products to remain resilient on the back of the higher sales orders from both the automotive and home appliances industry."
• Technically, traders may anticipate for a potential short-term breakout above RM1.08 to target the next resistances at RM1.14-1.20 with long term target set at RM1.25.

Technical View

(i) KEINHIN (S: RM0.99, R: RM1.14-1.20, LT TP: RM1.25, CL: RM0.985)

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

Source: Bloomberg, M+ Online

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