M+ Online Morning Market Buzz - 4 Nov 22 
 
Dow Jones: 32,001.25 pts (-146.51pts, -0.46%) 
⬆️ Resistance:  33800 
⬇️ Support:  31100 
 
FBM KLCI: 1,420.38 pts (-31.23pts, -2.15%) 
⬆️ Resistance:  1500 
⬇️ Support:  1400 
 
HSI Index: 15,339.49 pts (-487.68pts, -3.08%) 
⬆️ Resistance:  16200 
⬇️ Support:  14400 
 
Crude Palm Oil: RM4,392 (+RM55, +1.27%) 
⬆️ Resistance:  4590 
⬇️ Support:  3890 
 
Brent Oil: $94.67 (-$1.49, -1.55%) 
⬆️ Resistance:  98.90 
⬇️ Support:  90.50 
 
Gold: $1,629.49 (-$5.75, -0.35%) 
⬆️ Resistance:  1710 
⬇️ Support:  1590 
 
M+ Online Technical Trading Stocks - 4 Nov 22 
 
Stock Name: ABMB (2488) 
Entry: Buy above RM3.69 
Target: RM3.80 (3.0%), RM3.90 (5.7%) 
Stop: RM3.58 (-3.0%) 
Shariah: No 
Technical: Monitor for breakout 
 
Stock Name: DAYANG (5141) 
Entry: Buy above RM1.25 
Target: RM1.30 (4.0%), RM1.35 (8.0%) 
Stop: RM1.20 (-4.0%) 
Shariah: Yes 
Technical: Flag-formation breakout 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI plunged after the hawkish remarks from the US Fed; foreign investors turned net seller as outflows from Malaysia accelerated (5-day net foreign selling: -RM114.5m). We believe the local bourse performance may be impacted by the gloomy sentiment over the near term as investors anticipate further interest rate hikes by the US Fed to tackle inflation, contributing to the recession fears. However, investors may position themselves ahead of the GE15 event and the November reporting season. Commodities wise, the crude oil price hovered slightly below USD95, while the CPO traded above RM4,350. 

Sector focus: The construction and banking sectors may gain momentum ahead of the GE15 following a heavy selldown. Meanwhile, we believe the politically-neutral sectors such as telecommunication and O&G may see some bargain hunting activities. However, the technology stocks may remain in its downtrend move along with the significant selling on Nasdaq.

Stocks to watch: 

O&G: ARMADA, COASTAL, DAYANG, MHB, UZMA
Consumer: BAUTO, FIAMMA, PELIKAN
Transportation & Logistics: SYSCORP, TNLOGIS
Property-related: ECOWLD, TANCO, TROP
Power-related: JSB, MALAKOF
Healthcare: MGRC, SCOMNET
Others: CITAGLB, SIGN 

Source: M+ Online

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