M+ Online Morning Market Buzz - 5 Aug 22

Dow Jones: 32,726.82 pts (-85.68pts, -0.26%)
⬆️ Resistance:  33700
⬇️ Support:  31800

FBM KLCI: 1,507.71 pts (+17.14pts, +1.15%)
⬆️ Resistance:  1540
⬇️ Support:  1460

HSI Index: 20,174.04 pts (+406.95pts, +2.06%)
⬆️ Resistance:  21100
⬇️ Support:  19200

Crude Palm Oil: RM3,842 (+RM21, +0.55%)
⬆️ Resistance:  4400
⬇️ Support:  3620

Brent Oil: $94.12 (-$2.66, -2.75%)
⬆️ Resistance:  112.90
⬇️ Support:  91.40

Gold: $1,791.28 (+$25.99, +1.47%)
⬆️ Resistance:  1840
⬇️ Support:  1720

M+ Online Technical Trading Stocks - 5 Aug 22

Stock Name: HARBOUR (2062)
Entry: Buy above RM1.12
Target: RM1.20 (7.1%), RM1.24 (10.7%)
Stop: RM1.06 (-5.4%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: BONIA (9288)
Entry: Buy above RM2.18
Target: RM2.32 (6.4%), RM2.48 (13.8%)
Stop: RM2.06 (-5.5%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Market update: The FBM KLCI bounced higher in tandem with most of the regional peers, underpinned by buying momentum in selected utilities, telecommunication and banking heavyweights. We believe sentiment is likely to stay positive bias for the session as investors have shrugged off the US-China geopolitical risks to focus on the upcoming earnings season. Commodities wise, the crude oil price declined further to USD94 per barrel mark, lowest since the start of the Ukraine and Russia tension, while the CPO price saw mild improvement and remained above RM3,800. 

Sector focus: The technology sector may extend its uptrend move, tracking the gains in Nasdaq. Meanwhile, the banking sector may see buying interest ahead of the earnings season. On the contrary, the energy sector should face further selling pressure amid declining crude oil price.

Stocks to watch: 

Technology & Telco: D&O, DIALOG, DIGI, GREATEC, JFTECH, KGB, LGMS, VIS
EMS: FPI, PIE
Consumer: BONIA, FFB, MEDIA
Property & REITs: ECOWLD, IGBREIT, SUNREIT
Building material & Construction: AME, ANNJOO, CMSB
Energy and O&G: COASTAL, MFCB, PANTECH, YTLPOWR
Chemicals: ANCOMNY, TEXCHEM
Transportation & Logistics: HARBOUR, MAYBULK
Finance: ABMB, AMBANK, MAYBANK, PBBANK
Others: BSTEAD, GENTING, PECCA, SCOMNET

Source: M+ Online

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