M+ Online Morning Market Buzz - 13Sep22

Dow Jones: 32,381.34 pts (+229.63pts, +0.71%)
⬆️ Resistance:  33200
⬇️ Support:  30500

FBM KLCI: 1,497.96 pts (+1.43pts, +0.10%)
⬆️ Resistance:  1540
⬇️ Support:  1460

HSI Index: 19,362.25 pts (+507.63pts, +2.69%)
⬆️ Resistance:  19900
⬇️ Support:  18500

Crude Palm Oil: RM3,683 (RM0, 0.00%)
⬆️ Resistance:  4040
⬇️ Support:  3420

Brent Oil: $94.00 (+$1.16, +1.25%)
⬆️ Resistance:  97.90
⬇️ Support:  85.50

Gold: $1,724.54 (+$7.71, +0.45%)
⬆️ Resistance:  1770
⬇️ Support:  1660

M+ Online Technical Trading Stocks - 13Sep22

Stock Name: THETA (9075)
Entry: Buy above RM0.855
Target: RM0.91 (6.4%), RM0.97 (13.5%)
Stop: RM0.80 (-6.4%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: AJIYA (7609)
Entry: Buy above RM1.21
Target: RM1.26 (4.1%), RM1.30 (7.4%)
Stop: RM1.17 (-3.3%)
Shariah: Yes
Technical: Impending flag-formation breakout

Market update: Buying momentum in selected plantation, banking, and healthcare heavyweights pushed the FBM KLCI to close for the fourth straight session. We believe sentiment is turning positive as the regional markets and Wall Street are on a rebound mode ahead of the CPI data. We think the investors may shrug off inflationary concerns and turn their focus to the upcoming Budget 2023 which will be tabled in October. Commodities wise, the crude oil price trended higher, trading around USD94 as supplies concern mount heading into the winter. Meanwhile, the crude palm oil traded above RM3,650. 

Sector focus: We believe the technology sector will continue its uptrend move in tandem with Nasdaq. Besides, the energy sector may gain traction following a rebound in crude oil price, while we also expect buying interest to emerge within the packaging, medical-related and property segments in the near term.

Stocks to watch: 

Telco & Technology: ATECH, CEKD, D&O, ELSOFT, FRONTKN, KGB, MAXIS, MMSV, MYEG, SAM, SCICOM, SEDANIA, SKPRES, VIS
Consumer: KAWAN, MYNEWS
Packaging: MASTER, PPHB, SCIENTX
Medical-related: DPHARMA, TMCLIFE
O&G: ARMADA, DELEUM, PANTECH
Property: ECOWLD, MATRIX, OSK
Others: EPMB, FLBHD, FM

Source: M+ Online

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