M+ Online Morning Market Buzz - 15 Dec 22 
 
Dow Jones: 33,966.35 pts (-142.29pts, -0.42%) 
⬆️ Resistance:  35500 
⬇️ Support:  32800 
 
FBM KLCI: 1,483.17 pts (+13.05pts, +0.89%) 
⬆️ Resistance:  1520 
⬇️ Support:  1440 
 
HSI Index: 19,673.45 pts (+77.25pts, +0.39%) 
⬆️ Resistance:  20400 
⬇️ Support:  18600 
 
Crude Palm Oil: RM3,965 (+RM15, +0.38%) 
⬆️ Resistance:  4140 
⬇️ Support:  3650 
 
Brent Oil: $82.70 (+$2.02, +2.50%) 
⬆️ Resistance:  84.90 
⬇️ Support:  73.70 
 
Gold: $1,807.32 (-$3.48, -0.19%) 
⬆️ Resistance:  1870 
⬇️ Support:  1750 
 
M+ Online Technical Trading Stocks - 15 Dec 22 
 
Stock Name: BIG (7005) 
Entry: Buy above RM0.76 
Target: RM0.81 (6.6%), RM0.85 (11.8%) 
Stop: RM0.72 (-5.3%) 
Shariah: Yes 
Technical: Impending flag-formation breakout 
 
Stock Name: SYSCORP (5173) 
Entry: Buy above RM0.785 
Target: RM0.84 (7.0%), RM0.875 (11.5%) 
Stop: RM0.73 (-7.0%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI ended on a positive note along with most of the regional peers as investors cheered positively after the cooler US inflation data, while foreign funds turned net buyer after 9-day of selling activities. However, cautious sentiment may return following the negative performance on Wall Street overnight as the US Fed Chair’s remarks on further tightening of monetary policy in 2023, coupled with the expected terminal rate of 5.1% going forward to fight inflation. Investors may watch for UK and Europe’s interest rate decision moving forward. Commodities wise, the Brent crude oil price rose above USD82 per barrel mark, while the CPO price hovered above RM3,950. 

Sector focus: The oil & gas sector should remain its uptrend move given the firmer crude oil price. Investors may favour the banking sector amid the prolonged interest rate upcycle environment. On the other hand, the technology sector may stage a pullback following the cautious sentiment on Wall Street.

Stocks to watch: 
O&G: ARMADA, CARIMIN, DIALOG, HIBISCS, UZMA
Automotive: BAUTO, DRBHCOM
Renewable energy: PESTECH, RENEUCO, SAMAIDEN
Technology: AGMO, BETA, FPGROUP, KRONO, MI, RAMSSOL, UNISEM
Others: DPHARMA, MASTEEL, MUHIBAH 

Source: M+ Online

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