Errata on stock name

M+ Online Technical Trading Stocks - 29Sep22

Stock Name: TROP (5401)
Entry: Buy above RM1.17
Target: RM1.21 (3.4%), RM1.25 (6.8%)
Stop: RM1.13 (-3.4%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: HEXTAR (5151)
Entry: Buy above RM1.80
Target: RM1.92 (6.7%), RM1.99 (10.6%)
Stop: RM1.71 (-5.0%)
Shariah: Yes
Technical: Monitor for breakout

Market update: The FBM KLCI slid alongside with the regional peers as persistent negative sentiment prevailed and pulled the key index below the 1-year low. However, we believe the local bourse should see decent buying interest after a sharp rally on Wall Street overnight as the surprise policy pivot by the Bank of England should lift the regional sentiment. Commodities wise, the crude oil above USD89 per barrel, rebounding from its recent downtrend move as the market anticipated a rebound in consumer demand following a mild pullback in the USD. Meanwhile, the CPO price trended lower to hover along RM3,200. 

Sector focus: We believe the market should see recovery today and the technology stocks may be the leader for the session. Meanwhile, the rebound in crude oil price may boost the energy sector higher. Also, we expect traders to focus on the upcoming Budget 2023, positioning in the market ahead of the event; we like the healthcare, automation, automotive, telco and solar industries.

Stocks to watch: 

Technology: ATECH, CORAZA, MICROLN, MYEG
Gloves: HARTA, KOSSAN
Consumer: CCK, KAWAN
Property: CHGP, TROP 
Others: CITAGLB, HEXTAR, JSB, KAB, LBALUM, RESINTC

Source: M+ Online

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