M+ Online Morning Market Buzz - 26 Jul 22
Dow Jones: 31,990.04 pts (+90.75pts, +0.28%)
⬆️ Resistance: 32900
⬇️ Support: 30600
FBM KLCI: 1,469.22 pts (+3.42pts, +0.23%)
⬆️ Resistance: 1500
⬇️ Support: 1390
HSI Index: 20,562.94 pts (-46.20pts, -0.22%)
⬆️ Resistance: 21600
⬇️ Support: 20000
Crude Palm Oil: RM3,728 (+RM82, +2.25%)
⬆️ Resistance: 4160
⬇️ Support: 3550
Brent Oil: $105.15 (+$1.95, +1.89%)
⬆️ Resistance: 109.80
⬇️ Support: 99.50
Gold: $1,719.78 (-$7.86, -0.45%)
⬆️ Resistance: 1780
⬇️ Support: 1650
M+ Online Technical Trading Stocks - 26 Jul 22
Stock Name: DUFU (7233)
Entry: Buy above RM3.00
Target: RM3.23 (7.7%), RM3.36 (12.0%)
Stop: RM2.77 (-7.7%)
Shariah: Yes
Technical: Hammer candle
Stock Name: MSM (5202)
Entry: Buy above RM0.915
Target: RM0.95 (3.8%), RM1.00 (9.3%)
Stop: RM0.88 (-3.8%)
Shariah: Yes
Technical: Flag-formation breakout
Market update: The FBM KLCI outperformed the regional peers as the key index gained momentum in the final trading hour, supported by influx of foreign funds. Although the market sentiment has been improving over the past few sessions, we reckon that the investors may remain cautious ahead of the US Fed’s interest rate decision and could take a breather in view of the mixed performances on Wall Street overnight. Commodities wise, both the crude oil and CPO prices trended mildly higher, trading above USD105 and RM3,700 respectively.
Sector focus: We expect trading activities to revolve around the sectors such as consumer and banking stocks due to its defensive characteristic as well as the interest up-cycle environment. Besides, the healthcare sector may see some buying interest after Singapore reported more cases on monkeypox. On the flip side, selected technology stocks may pullback following the performance in Nasdaq.
Stocks to watch:
Consumer: CSCENIC, FFB, MSM, PADINI, SIGN
Finance: ABMB, RHBBANK
Healthcare: DPHARMA, MGRC, SCOMNET
Power-related: TENAGA, YTLPOWR
Technology: CENSOF, CTOS, GENETEC, INARI, LGMS, REVENUE, YBS
EMS: PIE, SKPRES
Transportation & Logistics: TASCO, WPRTS
Others: ANCOMNY, BSTEAD, ECOWLD, MEDIA, PANTECH, SENFONG
Source: M+ Online
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