M+ Online Morning Market Buzz - 25 Nov 22 
 
Dow Jones: 34,194.06 pts (0.00pts, 0.00%) 
⬆️ Resistance:  35000 
⬇️ Support:  32900 
 
FBM KLCI: 1,501.88 pts (+58.38pts, +4.04%) 
⬆️ Resistance:  1540 
⬇️ Support:  1400 
 
HSI Index: 17,660.90 pts (+137.09pts, +0.78%) 
⬆️ Resistance:  18800 
⬇️ Support:  17000 
 
Crude Palm Oil: RM4,091 (+RM51, +1.26%) 
⬆️ Resistance:  4310 
⬇️ Support:  3720 
 
Brent Oil: $85.34 (-$0.07, -0.08%) 
⬆️ Resistance:  92.50 
⬇️ Support:  80.70 
 
Gold: $1,755.24 (+$5.56, +0.32%) 
⬆️ Resistance:  1810 
⬇️ Support:  1700 
 
M+ Online Technical Trading Stocks - 25 Nov 22 
 
Stock Name: LGMS (0249) 
Entry: Buy above RM1.26 
Target: RM1.38 (9.5%), RM1.45 (15.1%) 
Stop: RM1.16 (-7.9%) 
Shariah: Yes 
Technical: Breakout-pullback-continuation 
 
Stock Name: FIAMMA (6939) 
Entry: Buy above RM1.24 
Target: RM1.32 (6.5%), RM1.35 (8.9%) 
Stop: RM1.17 (-5.6%) 
Shariah: Yes 
Technical: Breakout-pullback-continuation 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI witnessed a strong rally after the unity government is formed with PH being the largest party in the alliance and PH’s Chairman Datuk Seri Anwar Ibrahim is being appointed as Malaysia’s 10th Prime Minister. Following the conclusive outcome of the GE15, foreign investors turned net buyer, snapping a 6-day outflow streak and a stronger MYR, we believe the local bourse will continue its uptrend move amid rising investors’ confidence. Besides, the FOMC meeting minutes that saw some of the Fed’s official turning less hawkish may be perceived as positive to the stock markets. Commodities wise, the crude oil and CPO prices hovered above USD85 and RM4,000 respectively. 

Sector focus: After this GE15 event, we expect a broad-based buying interest into GLCs, while traders could focus into the construction and building material segments ahead of the re-tabling of Budget 2023. Besides, the technology sector may continue to outperform the market with the momentum picking up.

Stocks to watch: 

Technology: INARI, JFTECH, KGB, LGMS, MI, PENTA, PIE, SAM
Consumer: QL, SDS
O&G: CARIMIN, DIALOG, RL, UZMA
Building material: CMSB, EFRAME, HIAPTEK
Construction: EIB, NESTCON
Property: CHGP, EWEIN, SIMEPROP
Telco & Media: AMTEL, ASTRO, REDTONE
Medical: OPTIMAX, UMC
Others: AFFIN, LCTITAN, TOPGLOV

Source: M+ Online

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