M+ Online Morning Market Buzz - 29 Nov 22 
 
Dow Jones: 33,849.46 pts (-497.57pts, -1.45%) 
⬆️ Resistance:  35100 
⬇️ Support:  33200 
 
FBM KLCI: 1,486.54 pts (-15.34pts, -1.02%) 
⬆️ Resistance:  1540 
⬇️ Support:  1410 
 
HSI Index: 17,297.94 pts (-275.64pts, -1.57%) 
⬆️ Resistance:  18200 
⬇️ Support:  16500 
 
Crude Palm Oil: RM4,140 (+RM100, +2.48%) 
⬆️ Resistance:  4310 
⬇️ Support:  3750 
 
Brent Oil: $83.19 (-$0.44, -0.53%) 
⬆️ Resistance:  91.70 
⬇️ Support:  79.00 
 
Gold: $1,741.36 (-$13.57, -0.77%) 
⬆️ Resistance:  1800 
⬇️ Support:  1700 
 
M+ Online Technical Focus - 29 Nov 22 
FoundPac Group Bhd: Tapping into EV market 
 
Trading Catalyst 
• Engages in the design development, manufacture, marketing and sale of precision engineering parts. 
• Newly acquired 70.0% equity stake in SDKM Technologies Sdn Bhd (SDKM) that engages in the cable assembly and wire harness business to tap into the production of cables and wire harnesses for electric vehicles. 
• Stronger USD against Ringgit Malaysia bodes well for the export-oriented FPGROUP which derived c.70.0% of total revenue from the export market in FY22. 
• Technically, price has formed a short-term breakout above RM0.505, and may head higher towards the next resistances at RM0.545-0.585 with long term target at RM0.64. 
 
Technical View 
 
(i) FPGROUP (S: RM0.46, R: RM0.545-0.585, LT TP: RM0.64, CL: RM0.455) 
 
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss 
 
Economic Releases For The Week (28/11/2022-2/12/2022): 
 
29/11/2022 
JP - Japan's Unemployment Rate, 7.30AM 
JP - Japan's Retail Sales, 7.50AM 
EU - Eurozone's Consumer Confidence, 6.00PM 
EU - Eurozone's Economic Sentiment, 6.00PM 
EU - Eurozone's Industrial Sentiment, 6.00PM 
EU - Eurozone's Services Sentiment, 6.00PM 
 
30/11/2022 
CN - China's NBS Manufacturing PMI, 9.00AM 
CN - China's Non-Manufacturing PMI, 9.00AM 
MY - Malaysia's Producer Price Index, 12.00PM 
US - United States' 3Q22 GDP Growth Rate (2nd Estimate), 9.30PM 
US - United States' Chicago PMI, 10.45PM 
US - United States' Pending Home Sales, 11.00PM 
 
1/12/2022 
JP - Japan's Jibun Bank Manufacturing PMI, 8.30AM 
MY - Malaysia's S&P Global Manufacturing PMI, 8.30AM 
CN - China's Caixin Manufacturing PMI, 9.45AM 
JP - Japan's Consumer Confidence, 1.00PM 
EU - Eurozone's S&P Global Manufacturing PMI, 5.00PM 
UK - United Kingdom's S&P Global Manufacturing PMI, 5.30PM 
EU - Eurozone's Unemployment Rate, 6.00PM 
US - United States' S&P Global Manufacturing PMI, 10.45PM 
US - United States' ISM Manufacturing PMI, 11.00PM 
 
2/12/2022 
EU - Eurozone's Producer Price Index, 6.00PM 
US - United States' Unemployment Rate, 9.30PM 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI retreated on Friday as broad-based profit taking activities emerged ahead of the long weekend. The global stock markets started the week largely in a weaker note as protest over China’s strict Covid-19 restriction stoked worries over the global financial recovery. The local bourse may follow suit as buying momentum may slow down moving, while focusing on the ongoing earnings season. Meanwhile, investors may watch the formation of the cabinet in the near future as well as the re-tabling of Budget 2023. Commodities wise, the crude oil price fell towards USD83 per barrel, while the CPO price hovered above RM4,100. 

Sector focus: With the FIFA World Cup going on, buying momentum may build up in the breweries stocks. Besides, investors may favour the construction and building material related stocks ahead of the re-tabling of Budget 2023 which will likely to be focusing on the economy wellbeing. On the contrary, profit taking activities may emerge within the technology stocks.

Stocks to watch: 

Technology: ATECH, CTOS, FPGROUP, KGB, SKPRES
O&G: DAYANG, DELEUM, UZMA, YINSON
Financial: AFFIN, BIMB, RCECAP
Transportation: FM, MAYBULK, TASCO
Others: ASTRO, CYL, DPHARMA, DRBHCOM, HAPSENG, JSB, LIONIND, LITRAK, TAFI, WCT

Source: M+ Online

BONIA, OFI, YB, LIONIND, FPGROUP, BAUTO, TAFI, TELADAN, TANCO, MTAG

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