M+ Online Morning Market Buzz - 19 Jul 22 
 
Dow Jones: 31,072.61 pts (-215.65pts, -0.69%) 
⬆️ Resistance:  32300 
⬇️ Support:  29600 
 
FBM KLCI: 1,429.54 pts (+11.10pts, +0.78%) 
⬆️ Resistance:  1460 
⬇️ Support:  1390 
 
HSI Index: 20,846.18 pts (+548.46pts, +2.70%) 
⬆️ Resistance:  21600 
⬇️ Support:  19900 
 
Crude Palm Oil: RM4,066 (+RM121, +3.07%) 
⬆️ Resistance:  4370 
⬇️ Support:  3420 
 
Brent Oil: $106.27 (+$5.11, +5.05%) 
⬆️ Resistance:  108.70 
⬇️ Support:  92.70 
 
Gold: $1,709.22 (+$1.05, +0.06%) 
⬆️ Resistance:  1790 
⬇️ Support:  1670 

M+ Online Technical Trading Stocks - 19 Jul 22 
 
Stock Name: DELEUM (5132) 
Entry: Buy above RM0.595 
Target: RM0.64 (7.6%), RM0.675 (13.4%) 
Stop: RM0.56 (-5.9%) 
Shariah: No 
Technical: Monitor for breakout 
 
Stock Name: HEXTAR (5151) 
Entry: Buy above RM1.71 
Target: RM1.83 (7.0%), RM1.93 (12.9%) 
Stop: RM1.61 (-5.8%) 
Shariah: Yes 
Technical: Monitor for breakout 

Market update: The FBM KLCI managed to rebound and recouped its losses from the past week, riding high on upbeat performances from the regional markets and Wall Street overnight. With foreign investors turning net buyers (5-day net foreign fund inflow: RM53.7m), traders may expect a mild extension of the rebound on the severely oversold local equities market. Nevertheless, gains might be capped by challenging business operating environment on the back of heightened inflation pressure. On the commodity markets, the crude oil price rose above USD106 per barrel mark, while the CPO price traded above RM4,000. 

Sector focus: The energy sector should be focused amid rising Brent oil price. On the other hand, the downstream plantation companies may face challenges on margin as government is targeting a reduction in cooking oil retail price in the near term amid falling FCPO price. Meanwhile, profit taking activities may emerge within the technology sector as Nasdaq reversed its gains overnight. 

Stocks to watch: 

O&G: DAYANG, DELEUM, HIBISCS 
Consumer: FFB, FIAMMA
Construction & Building materials: ANNJOO, GAMUDA, MYCRON
Telco & Technology: DNEX, GENETEC, LGMS, SFPTECH, UNISEM, WONG 
Others: HEXTAR, IOICORP, PGF, PPJACK

Source: M+ Online

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