M+ Online Morning Market Buzz - 19 Aug 22

Dow Jones: 33,999.04 pts (+18.72pts, +0.06%)
⬆️ Resistance:  35000
⬇️ Support:  32800

FBM KLCI: 1,516.62 pts (-1.54pts, -0.10%)
⬆️ Resistance:  1560
⬇️ Support:  1480

HSI Index: 19,763.91 pts (-158.54pts, -0.80%)
⬆️ Resistance:  20700
⬇️ Support:  19300

Crude Palm Oil: RM4,041 (-RM2, -0.05%)
⬆️ Resistance:  4590
⬇️ Support:  3960

Brent Oil: $96.59 (+$2.94, +3.14%)
⬆️ Resistance:  102.40
⬇️ Support:  89.70

Gold: $1,758.61 (-$3.16, -0.18%)
⬆️ Resistance:  1840
⬇️ Support:  1730

M+ Online Technical Trading Stocks - 19 Aug 22

Stock Name: HIBISCS (5199)
Entry: Buy above RM0.895
Target: RM0.98 (9.5%), RM1.03 (15.1%)
Stop: RM0.815 (-8.9%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: PECCA (5271)
Entry: Buy above RM0.82
Target: RM0.88 (7.3%), RM0.905 (10.4%)
Stop: RM0.76 (-7.3%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Market update: The FBM KLCI extended losses amid weaker sentiment across the regional markets as investors continued to digest recent gains. Given the US markets are still finding its direction, we believe the local bourse may take a breather amid softer inflow of foreign funds and the FBM KLCI might be resisted along its SMA200 zone. Investors will be focusing on the ongoing reporting season to position themselves in the stock markets. Commodities wise, the crude oil price surged above USD96 per barrel mark, while the CPO traded above RM4,000. 

Sector focus: We opine that the positive momentum in the energy sector should sustain as the crude oil price is showing an uptick move and selected O&G stocks like DAYANG and GASMSIA have release decent results. Besides, sectors such as banking, consumer, and REIT should stay attractive throughout the earnings season.

Stocks to watch: 

Transportation & Logistics: CAPITALA, TASCO
Technology & Telco: GENETEC, GTRONIC, KRONO, KOBAY, SFPTECH, UNISEM, VIS
Consumer: BONIA, GCB, PADINI
Utilities: MALAKOF, RANHILL, SLVEST
O&G: DAYANG, HIBISCS 
Healthcare: DPHARMA, SCOMNET
Finance: AMBANK, CIMB
Others:  KPOWER, PECCA, TGUAN

Source: M+ Online

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