M+ Online Morning Market Buzz - 21 Jul 22 
 
Dow Jones: 31,874.84 pts (+47.79pts, +0.15%) 
⬆️ Resistance:  32600 
⬇️ Support:  29600 
 
FBM KLCI: 1,436.98 pts (+8.22pts, +0.58%) 
⬆️ Resistance:  1470 
⬇️ Support:  1390 
 
HSI Index: 20,890.22 pts (+229.16pts, +1.11%) 
⬆️ Resistance:  21600 
⬇️ Support:  19900 
 
Crude Palm Oil: RM3,931 (-RM4, -0.10%) 
⬆️ Resistance:  4160 
⬇️ Support:  3420 
 
Brent Oil: $106.92 (-$0.43, -0.40%) 
⬆️ Resistance:  109.80 
⬇️ Support:  92.70 
 
Gold: $1,696.58 (-$15.09, -0.88%) 
⬆️ Resistance:  1780 
⬇️ Support:  1660 
 
M+ Online Technical Trading Stocks - 21 Jul 22 
 
Stock Name: DSONIC (5216) 
Entry: Buy above RM0.475 
Target: RM0.515 (8.4%), RM0.535 (12.6%) 
Stop: RM0.45 (-5.3%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Stock Name: CFM (8044) 
Entry: Buy above RM1.07 
Target: RM1.13 (5.6%), RM1.16 (8.4%) 
Stop: RM1.02 (-4.7%) 
Shariah: Yes 
Technical: Flag-formation breakout 

Market update: The FBM KLCI climbed in line with the broadly-positive sentiment from the regional markets. Investors should see a positive-bias trading tone on the local bourse following the extension of rebound on Wall Street, supported by bargain hunting activities on significantly oversold stocks over the past few weeks. For commodities, the Brent crude oil is still trading above its SMA200 and USD100 zone around the USD106-107 level, while the CPO price was little changed around RM3,900. Nevertheless, we foresee the CPO price to remain under pressure for 2H22 after Indonesia’s government ramped up export. 

Sector focus: The technology sector should see further improvement in trading activities after another positive session in Nasdaq following the release of earnings reports from several corporates. Besides, the energy sector should remain upbeat as oil price stabilised along USD106.

Stocks to watch: 

Telco & Technology: DSONIC, LGMS, OPCOM, PENTA, SEDANIA, TM, UWC, WONG
Consumer: BAUTO, BJFOOD, BONIA
Construction & Building materials: MYCRON, PMETAL
Transportation & Logistics: CAPITALA
O&G: PANTECH, PETRONM
Chemicals: HEXIND, HEXTAR
Others: AFFIN, CFM, DPHARMA, YTLPOWR

Source: M+ Online

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