M+ Online Morning Market Buzz - 22 Jul 22 
 
Dow Jones: 32,036.90 pts (+162.06pts, +0.51%) 
⬆️ Resistance:  32700 
⬇️ Support:  30200 
 
FBM KLCI: 1,450.32 pts (+13.34pts, +0.93%) 
⬆️ Resistance:  1490 
⬇️ Support:  1390 
 
HSI Index: 20,574.63 pts (-315.59pts, -1.51%) 
⬆️ Resistance:  21600 
⬇️ Support:  19900 
 
Crude Palm Oil: RM3,749 (+RM29, +0.78%) 
⬆️ Resistance:  4160 
⬇️ Support:  3450 
 
Brent Oil: $103.86 (-$3.06, -2.86%) 
⬆️ Resistance:  109.80 
⬇️ Support:  96.30 
 
Gold: $1,718.81 (+$22.23, +1.31%) 
⬆️ Resistance:  1760 
⬇️ Support:  1650 
 

M+ Online Technical Trading Stocks - 22 Jul 22 
 
Stock Name: EMETALL (7217) 
Entry: Buy above RM0.585 
Target: RM0.625 (6.8%), RM0.66 (12.8%) 
Stop: RM0.545 (-6.8%) 
Shariah: Yes 
Technical: Breakout-pullback-continuation 
 
Stock Name: FIAMMA (6939) 
Entry: Buy above RM0.93 
Target: RM0.97 (4.3%), RM1.01 (8.6%) 
Stop: RM0.89 (-4.3%) 
Shariah: Yes 
Technical: Uptrend Intact 
 

Market update: The FBM KLCI propelled on the back of selected banking and industrial products & services heavyweights amid broad-based bargain hunting activities. The uptrend moves on Wall Street overnight signalled that the buying support on the local bourse should remain intact. Commodities wise, crude oil price slipped, but still trading above the USD103 per barrel mark after Libya increased output after the restrictions on exports were lifted. Meanwhile, European Central Bank surprised the markets with raising the interest rates for the first time in 11 years.

Sector focus: The technology sector should be gaining momentum following a extension of rebound in Nasdaq. Besides, investors may favour the automotives stocks after the Malaysian Automotive Association (MAA) raised its Malaysian automotive total industry volume forecast. On the other hand, investors may see some profit taking activities in the energy sector on declining crude oil prices.

Stocks to watch: 

Telco & Technology: D&O, DSONIC, FRONTKN, GENETEC, LGMS, MI, MPI, SFPTECH, SKPRES, UCHITEC, YBS
Consumer: FIAMMA, KAWAN
Property: SIMEPROP, SPSETIA
Chemicals: HEXTAR, TEXCHEM
Finance: ABMB, AFFIN, CIMB, PPJACK 
Others: ANNJOO, CFM, EMETALL

Source: M+ Online

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