M+ Online Morning Market Buzz - 3 Nov 22 
 
Dow Jones: 32,147.76 pts (-505.44pts, -1.55%) 
⬆️ Resistance:  33800 
⬇️ Support:  31400 
 
FBM KLCI: 1,451.61 pts (+5.69pts, +0.39%) 
⬆️ Resistance:  1500 
⬇️ Support:  1420 
 
HSI Index: 15,827.17 pts (+371.90pts, +2.41%) 
⬆️ Resistance:  16200 
⬇️ Support:  14400 
 
Crude Palm Oil: RM4,445 (+RM47, +1.07%) 
⬆️ Resistance:  4540 
⬇️ Support:  3890 
 
Brent Oil: $96.16 (+$1.51, +1.60%) 
⬆️ Resistance:  99.30 
⬇️ Support:  90.50 
 
Gold: $1,635.24 (-$12.74, -0.77%) 
⬆️ Resistance:  1710 
⬇️ Support:  1600 
 
M+ Online Technical Trading Stocks - 3 Nov 22 
 
Stock Name: COASTAL (5071) 
Entry: Buy above RM2.05 
Target: RM2.16 (5.4%), RM2.20 (7.3%) 
Stop: RM1.99 (-2.9%) 
Shariah: No 
Technical: Flag-formation breakout 
 
Stock Name: TASCO (5140) 
Entry: Buy above RM0.87 
Target: RM0.905 (4.0%), RM0.93 (6.9%) 
Stop: RM0.84 (-3.4%) 
Shariah: Yes 
Technical: Resistance breakout 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI rebounded as investors saw the recent selldown as a buy-the-dip opportunity, positioning for the GE15 event, but the trading activities was relatively quiet as investors remained cautious prior to the US Fed’s FOMC meeting and BNM’s meeting. Nevertheless, we expect the selling pressure may emerge in the Asian stock markets after the US Fed Chairman Jerome Powell reiterated the hawkish stance to combat stubbornly-elevated inflation, which may dampen the attractiveness on interest rate sensitive sector such as technology. Commodities wise, the crude oil price traded above USD96 per barrel, while the CPO has crept above RM4,400. 

Sector focus: The energy and plantation counters may trade higher in tandem with the firmer commodity prices. Meanwhile, the banking sector may shine in an interest rate upcycle environment. On the other hand, the technology stocks may see a reverse in recent gains following a slump in Nasdaq overnight.

Stocks to watch: 

O&G: COASTAL, UZMA 
Technology: AWANTEC, DSONIC, KGB, MYEG
Consumer: MYNEWS, PELIKAN
Building material: CMSB, PMBTECH
Healthcare-related: HARTA, OPTIMAX
Others: GOB, OMESTI, SOP, SWIFT, TAKAFUL

Source: M+ Online

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