KLSE Traders Update and Ideas

Daily Market Update - 15 Jun 2022

mplus313
Publish date: Wed, 15 Jun 2022, 08:48 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web. As I am a Dealer's Representative, I watch and follow the market quite closely, and send updates to my clients regularly.

The daily market update is usually sent out to client's mobile in the morning. While the market summary is sent out in the evening.

Want to receive the daily market update straight in your mobile phone? Open a trading account: http://klse.i3investor.com/jsp/partner/my/mplus.jsp

M+ Online Morning Market Buzz - 15 Jun 22

Dow Jones: 30,364.83 pts (-151.91pts, -0.50%)
⬆ Resistance:  33900
⬇ Support:  29600

FBM KLCI: 1,481.28 pts (+16.45pts, +1.12%)
⬆ Resistance:  1570
⬇ Support:  1430

HSI Index: 21,067.99 pts (+0.41pts, +0.00%)
⬆ Resistance:  22600
⬇ Support:  20400

Crude Palm Oil: RM5,840 (-RM8, -0.14%)
⬆ Resistance:  6750
⬇ Support:  5620

Brent Oil: $121.17 (-$1.10, -0.90%)
⬆ Resistance:  127.70
⬇ Support:  116.60

Gold: $1,808.49 (-$10.77, -0.59%)
⬆ Resistance:  1920
⬇ Support:  1770

M+ Online Technical Focus - 15 Jun 22
Dayang Enterprise Holdings Bhd: Revival of work orders

Trading Catalyst
• An integrated services provider to the oil and gas industry with established track record of 30 years, supported by 2,000 employees.
• Earnings recovery will be supported by a solid outstanding orderbook of approximately RM1.80bn, translating to a healthy cover ratio of 2.7x of FY21 revenue of RM667.7m.
• Oil & gas activities turn more viable following the elevated crude oil prices, which would lead to improve work orders over the foreseeable future.
• Technically, traders may anticipate for a potential breakout above RM0.99, targeting the next resistances at RM1.05-1.12 with long term target set at RM1.22.

Technical View

(i) DAYANG (S: RM0.94, R: RM1.05-1.12, LT TP: RM1.22, CL: RM0.935)

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

Source: Bloomberg, M+ Online

 

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.

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