M+ Online Morning Market Buzz - 11 Nov 22 
 
Dow Jones: 33,715.37 pts (+1201.43pts, +3.70%) 
⬆️ Resistance:  34500 
⬇️ Support:  31400 
 
FBM KLCI: 1,449.74 pts (+3.55pts, +0.25%) 
⬆️ Resistance:  1490 
⬇️ Support:  1400 
 
HSI Index: 16,081.04 pts (-277.48pts, -1.70%) 
⬆️ Resistance:  17200 
⬇️ Support:  15200 
 
Crude Palm Oil: RM4,232 (+RM54, +1.29%) 
⬆️ Resistance:  4570 
⬇️ Support:  4010 
 
Brent Oil: $93.67 (+$1.02, +1.10%) 
⬆️ Resistance:  101.60 
⬇️ Support:  89.90 
 
Gold: $1,755.45 (+$48.71, +2.85%) 
⬆️ Resistance:  1800 
⬇️ Support:  1600 
 
M+ Online Technical Trading Stocks - 11 Nov 22 
 
Stock Name: SKBSHUT (7115) 
Entry: Buy above RM0.41 
Target: RM0.44 (7.3%), RM0.46 (12.2%) 
Stop: RM0.385 (-6.1%) 
Shariah: Yes 
Technical: Flag-formation breakout 
 
Stock Name: PPJACK (0242) 
Entry: Buy above RM0.57 
Target: RM0.595 (4.4%), RM0.625 (9.6%) 
Stop: RM0.55 (-3.5%) 
Shariah: No 
Technical: Resistance breakout 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI reversed its earlier losses and closed in the positive territory, outperforming the negative regional markets. Given the big rally on Wall Street after the release of the inflation data in the US, investors believe that the inflation numbers could have peaked and hopeful for a less-aggressive interest rate hikes from the US Fed. Hence, we believe the positive momentum may spill over to the regional markets as well as the local bourse. Commodities wise, the crude oil price hovered above USD93, while the CPO price fell towards RM4,230 amid worries over rising production. 

Sector focus: With the strong jump in the US, where the Nasdaq surged more than 7%, the buying momentum should spillover to the local bourse; main focus will be in the technology stocks. Meanwhile, the consumer sector may be boosted by the strong earnings from BJFOOD. Besides, we still believe the momentum within glove sector may sustain at least for the near term.

Stocks to watch: 

Consumer: BJFOOD, FIAMMA, SDS
Technology: FPI, KGB, MI, SFPTECH
Finance: AFFIN, PPJACK, TAKAFUL
Gloves: KOSSAN, SUPERMX, TOPGLOV 
Property: SIMEPROP, SPSETIA, TROP
Others: AIRPORT, JSB, SKBSHUT, YBS

Source: M+ Online

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