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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