M+ Online Morning Market Buzz - 10 Nov 22 
 
Dow Jones: 32,513.94 pts (-646.89pts, -1.95%) 
⬆️ Resistance:  34100 
⬇️ Support:  31100 
 
FBM KLCI: 1,446.19 pts (+4.84pts, +0.34%) 
⬆️ Resistance:  1480 
⬇️ Support:  1400 
 
HSI Index: 16,358.52 pts (-198.79pts, -1.20%) 
⬆️ Resistance:  17200 
⬇️ Support:  15000 
 
Crude Palm Oil: RM4,245 (+RM47, +1.12%) 
⬆️ Resistance:  4590 
⬇️ Support:  4110 
 
Brent Oil: $92.65 (-$2.71, -2.84%) 
⬆️ Resistance:  101.60 
⬇️ Support:  90.50 
 
Gold: $1,706.74 (-$5.68, -0.33%) 
⬆️ Resistance:  1760 
⬇️ Support:  1590 
 
M+ Online Technical Trading Stocks - 10 Nov 22 
 
Stock Name: PTRANS (0186) 
Entry: Buy above RM1.12 
Target: RM1.19 (6.2%), RM1.25 (11.6%) 
Stop: RM1.05 (-6.3%) 
Shariah: Yes 
Technical: Breakout-pullback-continuation 
 
Stock Name: YBS (0025) 
Entry: Buy above RM0.685 
Target: RM0.72 (5.1%), RM0.755 (10.2%) 
Stop: RM0.65 (-5.1%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI rose marginally as the market appeared to be on a bargain-hunting mode amid persistent inflows of foreign funds. However, we believe the downside risk could return with the selling pressure on Wall Street as the US mid-term election results are uncertain and the US CPI print may stay elevated and contribute to a selling tone in the near term. Commodities wise, the crude oil price declined further towards USD92-93 per barrel mark as the rising US crude stockpiles coupled with ongoing Covid-19 curbs in China dampened the price. Meanwhile, the CPO price trended lower, trading just below RM4,250.

Sector focus: With the ongoing uncertainties in place, the investors may look out for more defensive sectors such as telecommunications, REIT and utilities. Meanwhile, construction and building material stocks may be put on their radar with ahead of the GE15.

Stocks to watch: 

Consumer: BJFOOD, FIAMMA
Technology: GTRONIC, KGB
Building material: CMSB, PMETAL, YBS
Gold-related: POHKONG, TOMEI
O&G: ARMADA, PANTECH
Property: SIMEPROP, SPSETIA, TELADAN
Others: KMLOONG, KPJ, SLVEST, SFPTECH, TAFI 

Source: M+ Online

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