M+ Online Morning Market Buzz - 13 Jun 22

Dow Jones: 31,392.79 pts (-880.00pts, -2.73%)
⬆ Resistance:  34000
⬇ Support:  30800

FBM KLCI: 1,493.95 pts (-15.76pts, -1.04%)
⬆ Resistance:  1580
⬇ Support:  1470

HSI Index: 21,806.18 pts (-62.87pts, -0.29%)
⬆ Resistance:  22600
⬇ Support:  20700

Crude Palm Oil: RM5,920 (-RM290, -4.67%)
⬆ Resistance:  6750
⬇ Support:  5790

Brent Oil: $122.01 (-$1.06, -0.86%)
⬆ Resistance:  126.90
⬇ Support:  116.20

Gold: $1,871.60 (+$23.65, +1.28%)
⬆ Resistance:  1920
⬇ Support:  1790

M+ Online Technical Focus - 13 Jun 22
*Aeon Co. (M) Bhd: Boost from strong retail spending *

Trading Catalyst
• A leading general merchandise store cum supermarket chain, with 34 AEON Stores, 28 AEON Mall, 21 AEON BiG, 9 AEON MaxValu Prime, 65 AEON Wellness, 42 Daiso and 3 Komai-so across Malaysia.
• Focus onto digitalisation, innovation and sustainability through their sustainable digital transformation journey in their online platform, myAEON2go.
• Retail sales will remain driven by the special RM10,000 withdrawal facility from the Employees Provident Fund.
• Technically, traders may anticipate for a potential breakout above RM1.56, targeting the next resistances at RM1.69-1.75 with long term target set at RM1.80.

Technical View

(i) AEON (S: RM1.42, R: RM1.69-1.75, LT TP: RM1.80, CL: RM1.41)

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

Economic Releases For The Week (13/6/2022-17/6/2022):

13/6/2022
UK - United Kingdom's Industrial Production, 2:00PM
UK - United Kingdom's Manufacturing Production, 2:00PM

14/6/2022
JP - Japan's Industrial Production, 12:30PM
UK - United Kingdom's Unemployment Rate, 2:00PM
EU - Eurozone's Industrial Production, 5:00PM
EU - Eurozone's ZEW Economic Sentiment, 5.00PM
US - United States' Producer Price Index, 8:30PM

15/6/2022
JP - Japan's Machinery Orders, 7:50AM
CN - China's Industrial Production, 10:00AM
CN - China's Retail Sales, 10:00AM
CN - China's Unemployment Rate, 10:00AM
US - United States' Retail Sales, 8:30PM

16/6/2022
US - United States' Federal Reserve Interest Rate Decision, 2:00AM
UK - United Kingdom's Bank of England's Interest Rate Decision, 7:00PM

17/6/2022
JP - Japan's Bank of Japan's Interest Rate Decision, 11:00AM
UK - United Kingdom's Retail Sales, 2:00PM
EU - Eurozone's Inflation Rate, 5:00PM
US - United States' Industrial Production, 9:15PM
US - United States' Manufacturing Production, 9:15PM

Source: Bloomberg, M+ Online

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