M+ Online Morning Market Buzz - 8 Nov 22 
 
Dow Jones: 32,827.00 pts (+423.78pts, +1.31%) 
⬆️ Resistance:  33800 
⬇️ Support:  31100 
 
FBM KLCI: 1,442.12 pts (+3.84pts, +0.27%) 
⬆️ Resistance:  1490 
⬇️ Support:  1400 
 
HSI Index: 16,595.91 pts (+434.77pts, +2.69%) 
⬆️ Resistance:  17200 
⬇️ Support:  14600 
 
Crude Palm Oil: RM4,410 (-RM23, -0.52%) 
⬆️ Resistance:  4590 
⬇️ Support:  3960 
 
Brent Oil: $97.92 (-$0.65, -0.66%) 
⬆️ Resistance:  101.60 
⬇️ Support:  90.50 
 
Gold: $1,675.63 (-$6.24, -0.37%) 
⬆️ Resistance:  1720 
⬇️ Support:  1590 
 
M+ Online Technical Trading Stocks - 8 Nov 22 
 
Stock Name: KAWAN (7216) 
Entry: Buy above RM2.24 
Target: RM2.35 (4.9%), RM2.41 (7.6%) 
Stop: RM2.13 (-4.9%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Stock Name: SIMEPROP (5288) 
Entry: Buy above RM0.455 
Target: RM0.485 (6.6%), RM0.51 (12.1%) 
Stop: RM0.435 (-4.4%) 
Shariah: Yes 
Technical: Breakout-pullback-continuation 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI ended a choppy session higher, mainly buoyed by the telecommunication heavyweights as foreign funds returned for the second consecutive day. While the local bourse may cheer on hopes over China’s reopening, investors may remain cautiously optimistic as the US inflation data which will due later this week may indicate a prolonged interest rate upcycle environment, adding more risk to the shaky stock market. Commodities wise, the crude oil price held above USD97 per barrel mark, while the CPO traded above RM4,400. 

Sector focus: As the polling day for GE15 is getting closer, the election-theme sectors may set to take the centre stage over the near term. Meanwhile, investors may favour stocks with positive outlook prior to the earnings season such as consumer and O&G stocks. The energy and plantation sectors could remain its uptrend move on the back of firmer commodity prices.

Stocks to watch: 

O&G: COASTAL, HENGYUAN
Consumer: FIAMMA, HHGROUP, KTC, PELIKAN 
Plastic/ Paper: KYM, PPHB
Telco: DIGI, MAXIS
Building material: AYS, CHINHIN, YBS
Others: CITAGLB, SFPTECH, SIGN, SPSETIA, TOPGLOV

Source: M+ Online

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