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

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.