M+ Online Morning Market Buzz - 26 Aug 22

Dow Jones: 33,291.78 pts (+322.55pts, +0.98%)
⬆️ Resistance:  34600
⬇️ Support:  32200

FBM KLCI: 1,495.49 pts (+28.23pts, +1.92%)
⬆️ Resistance:  1560
⬇️ Support:  1440

HSI Index: 19,968.38 pts (+699.64pts, +3.63%)
⬆️ Resistance:  20400
⬇️ Support:  18900

Crude Palm Oil: RM4,246 (-RM12, -0.28%)
⬆️ Resistance:  4440
⬇️ Support:  3920

Brent Oil: $99.34 (-$1.88, -1.86%)
⬆️ Resistance:  104.60
⬇️ Support:  90.60

Gold: $1,758.71 (+$7.52, +0.43%)
⬆️ Resistance:  1810
⬇️ Support:  1700

M+ Online Technical Trading Stocks - 26 Aug 22

Stock Name: MMSV (0113)
Entry: Buy above RM0.865
Target: RM0.915 (5.8%), RM0.96 (11.0%)
Stop: RM0.825 (-4.6%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: THETA (9075)
Entry: Buy above RM0.93
Target: RM1.01 (8.6%), RM1.05 (12.9%)
Stop: RM0.875 (-5.9%)
Shariah: Yes
Technical: Monitor for breakout

Market update: The FBM KLCI jumped on a broad-based recovery as bargain-hunting activities took place following a six-session decline. As sentiment across regional markets have shown signal of improvement, we believe follow-through buying activities may emerge on the local bourse. However, investors should trade in a cautious undertone ahead of Malaysia’s inflation rate which is due to be released at noon. Commodities wise, the crude oil price fell below USD100 per barrel mark, while the CPO traded above RM4,200. 

Sector focus: Profit-taking may hit the energy sector following the mild drop in crude oil price below the USD100 per barrel mark. On the other hand, the technology sector should track the positive trading tone in Nasdaq overnight. Meanwhile, we expect traders to focus on solid earnings to lookout for trading opportunities. 

Stocks to watch: 

Technology-related: AGMO, CEKD, CNERGEN, CORAZA, DNEX, GENETEC, HIGHTEC, INFOTEC, KGB, MMSV, SAM, SKPRES, VIS
Consumer: BONIA, KAWAN, PWROOT, SDS 
Energy-related: PANTECH, SLVEST
Packaging: PPHB, TGUAN
Medical-related: CENGILD, SCOMNET
Transportation & Logistics: FM, HARBOUR, WPRTS
Chemical-related: SAMCHEM, TEXCHEM
Others: ECOMATE, PECCA, PMETAL, THETA

Source: M+ Online

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