M+ Online Morning Market Buzz - 6 Oct 22

Dow Jones: 30,273.87 pts (-42.45pts, -0.14%)
⬆️ Resistance:  31100
⬇️ Support:  28200

FBM KLCI: 1,420.55 pts (+11.19pts, +0.79%)
⬆️ Resistance:  1460
⬇️ Support:  1360

HSI Index: 18,087.97 pts (+1008.46pts, +5.90%)
⬆️ Resistance:  18600
⬇️ Support:  16600

Crude Palm Oil: RM3,756 (+RM114, +3.13%)
⬆️ Resistance:  3890
⬇️ Support:  3170

Brent Oil: $93.37 (+$1.57, +1.71%)
⬆️ Resistance:  95.90
⬇️ Support:  84.70

Gold: $1,716.26 (-$9.87, -0.57%)
⬆️ Resistance:  1770
⬇️ Support:  1610

M+ Online Technical Trading Stocks - 6 Oct 22

Stock Name: TMCLIFE (0101)
Entry: Buy above RM0.595
Target: RM0.625 (5.0%), RM0.66 (10.9%)
Stop: RM0.57 (-4.2%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: THETA (9075)
Entry: Buy above RM0.85
Target: RM0.905 (6.5%), RM0.95 (11.8%)
Stop: RM0.80 (-5.9%)
Shariah: Yes
Technical: Monitor for breakout

Market update: The FBM KLCI climbed for the third consecutive session, taking positive cue from the global markets as industrial products & services and plantation heavyweights led gains. Given Wall Street ended flat without significant selling pressure which may benefit stocks on the local front. Commodity wise, crude oil price ticked above USD93 after OPEC+ announced a production cut, while the CPO price sustained above RM3,750 in the anticipation of an easing of lockdown measure in China, which may boost demand going forward. 

Sector focus: We believe the investors may favour energy stocks following the uptick in crude oil price after OPEC+ announced the production cut policy. Besides, budget-related counters including solar related, telecommunications, and selected consumer stocks may gain traction. Also, we like the technology sector as Wall Street ended mildly negative.

Stocks to watch: 

Technology: D&O, KGB, MYEG
Plantation: APB, HARNLEN
Consumer: KEINHIN, PRLEXUS
Healthcare: HARTA, KOSSAN, OPTIMAX, SUPERMX 
Automotive: BAUTO, EPMB
Others: CAPITALA, COASTAL, NESTCON, THETA

Source: M+ Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.