M+ Online Morning Market Buzz - 7 Nov 22 
 
Dow Jones: 32,403.22 pts (+401.97pts, +1.26%) 
⬆️ Resistance:  33800 
⬇️ Support:  31100 
 
FBM KLCI: 1,438.28 pts (+17.90pts, +1.26%) 
⬆️ Resistance:  1500 
⬇️ Support:  1400 
 
HSI Index: 16,161.14 pts (+821.65pts, +5.36%) 
⬆️ Resistance:  16900 
⬇️ Support:  14400 
 
Crude Palm Oil: RM4,367 (+RM30, +0.69%) 
⬆️ Resistance:  4590 
⬇️ Support:  3940 
 
Brent Oil: $98.57 (+$3.90, +4.12%) 
⬆️ Resistance:  100.80 
⬇️ Support:  90.50 
 
Gold: $1,681.87 (+$52.38, +3.21%) 
⬆️ Resistance:  1720 
⬇️ Support:  1590 
 
M+ Online Technical Focus - 7 Nov 22 
SFP Tech Holdings Bhd: One-stop automated equipment solution provider 
 
Trading Catalyst 
• One-stop automated equipment solution provider with key clients predominantly in the semiconductor, electrical & engineering and solar photovoltaic industries. 
• On track to expand their production capacity through the construction of Plant 3 that will ramp up production floor space to 467,000 sqf. 
• Gradual adoption of automation processes bodes well for SPFTECH as businesses strive to improve productivity in bid to remain competitive. 
• Technically, traders may anticipate for a potential flag-formation breakout above RM1.59, targeting the next resistances at RM1.69-1.78 with long term target set at RM1.91. 
 
Technical View 
 
(i) SFPTECH (S: RM1.48, R: RM1.69-1.78, LT TP: RM1.91, CL: RM1.47) 
 
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss 
 
Economic Releases For The Week (7/11/2022-11/11/2022): 
 
8/11/2022 
MY - Malaysia's Unemployment Rate, 12.00PM 
MY - Malaysia's Industrial Production, 12.00PM 
EU - Eurozone's Retail Sales, 6.00PM 
 
9/11/2022 
CN - China's Inflation Rate, 9.30AM 
CN - China's Producer Price Index, 9.30AM 
 
10/11/2022 
MY - Malaysia's Retail Sales, 12.00PM 
US - United States' Inflation Rate, 9.30PM 
 
11/11/2022 
JP - Japan's Producer Price Index, 7.50AM 
MY - Malaysia's 3Q22 GDP Growth Rate, 12.00PM 
UK - United Kingdom's 3Q22 GDP Growth Rate (Preliminary), 3.00PM 
UK - United Kingdom's Manufacturing Production, 3.00PM 
UK - United Kingdom's Industrial Production, 3.00PM 
US - United States' Michigan Consumer Sentiment (Preliminary), 11.00PM 
 
Source: Bloomberg, M+ Online

Market update: Tracking the bullish performances across most of the regional markets, the FBM KLCI concluded Friday with a significant rebound as the market was cheered by China’s reopening hopes. With the Wall Street turning positive last week, we expect the local front to trade positively ahead of the GE15 as well as the upcoming financial reporting period. However, we expect investors to stay cautious nearer to the announcement of the US inflation rate as that may dictate the Fed’s view and direction of the markets going forward. Commodities wise, the Brent crude oil price traded around USD98 per barrel market, while the CPO price hovered above RM4,350. 

Sector focus: Energy counters may see buying interest prior to the financial reporting period, in view of the solid crude oil price over the last quarter.  Meanwhile, traders may favour the budget-related themed counters such as the telco stocks. The technology stocks may be lifted as Nasdaq gained grounds, while export-oriented stocks may benefit under the weak RM environment.

Stocks to watch: 

O&G: DAYANG, DELEUM, DIALOG
Consumer: CYL, KYM, MYNEWS, PWROOT, SDS
Transportation & Logistics: SWIFT, SYSCORP
Medical-related: SCOMNET, SOLUTN
Furniture-related: SIGN, SYF, TAFI
Building material: AJIYA, CMSB, EMETALL
Others: DSONIC, TSH

Source: M+ Online
 

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