M+ Online Morning Market Buzz - 28 Oct 22 
 
Dow Jones: 32,033.28 pts (+194.17pts, +0.61%) 
⬆️ Resistance:  33100 
⬇️ Support:  29700 
 
FBM KLCI: 1,454.09 pts (-0.89pts, -0.06%) 
⬆️ Resistance:  1490 
⬇️ Support:  1410 
 
HSI Index: 15,427.94 pts (+110.27pts, +0.72%) 
⬆️ Resistance:  16700 
⬇️ Support:  14700 
 
Crude Palm Oil: RM4,133 (-RM14, -0.34%) 
⬆️ Resistance:  4350 
⬇️ Support:  3980 
 
Brent Oil: $96.96 (+$1.27, +1.33%) 
⬆️ Resistance:  99.30 
⬇️ Support:  89.20 
 
Gold: $1,663.31 (-$1.26, -0.08%) 
⬆️ Resistance:  1710 
⬇️ Support:  1590 
 
M+ Online Technical Trading Stocks - 28 Oct 22 
 
Stock Name: DAYANG (5141) 
Entry: Buy above RM1.20 
Target: RM1.29 (7.5%), RM1.33 (10.8%) 
Stop: RM1.14 (-5.0%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Stock Name: SDS (0212) 
Entry: Buy above RM0.670 
Target: RM0.70 (4.5%), RM0.725 (8.2%) 
Stop: RM0.64 (-4.5%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI retreated as profit-taking activities emerged amid mixed regional performances led by plantation heavyweights. Given the mixed sentiment on Wall Street following the selldown in tech giants in the US, coupled with the interest rate hike by the European Central Bank, we believe the negative sentiment may spillover to the local front and the FBM KLCI could have limited upside potential for the near term. Commodities wise, the Brent crude oil price continued to climb above USD96 per barrel mark, while the CPO price sustained above RM4,100. 

Sector focus: We believe the rising crude oil price will benefit the trading activities within the energy counters. Meanwhile, the technology counters may track the negative performance on Nasdaq following a gloomy earnings season. We continue to favour construction, building material segment, solid consumer, and banking stocks prior to GE15. Meanwhile, export-oriented counters may be the beneficiaries of weakening MYR.

Stocks to watch: 

O&G: COASTAL, DAYANG, DELEUM, HIBSICS, UZMA
Building material: ANNJOO, EMETALL
Consumer: KTC, MYNEWS, PWROOT, SDS
Technology: AGMO, CNERGEN, KOBAY, SAM
Others: BSTEAD SLVEST TAANN UMC

Source: M+ Online

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