KLSE Traders Update and Ideas

Daily Market Update - 22 Dec 2022 (ECOWLD, CORAZA)

mplus313
Publish date: Thu, 22 Dec 2022, 08:42 AM
mplus313
0 3,730
This blog provides market updates and trading ideas that I gather from around the web.

M+ Online Technical Trading Stocks - 22 Dec 22 
 
Stock Name: ECOWLD (8206) 
Entry: Buy above RM0.68 
Target: RM0.72 (5.9%), RM0.75 (10.3%) 
Stop: RM0.645 (-5.1%) 
Shariah: Yes 
Technical: Consolidation breakout 
 
Stock Name: CORAZA (0240) 
Entry: Buy above RM0.84 
Target: RM0.88 (4.8%), RM0.90 (7.1%) 
Stop: RM0.80 (-4.8%) 
Shariah: Yes 
Technical: Flag-formation breakout 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI fell amid subdued trading as lingering worries over the recession concerns persisted. However, foreign investors have turned net buyer following the recent selldown. Given the strong rebound on Wall Street overnight, we believe the buying interest may spill over to the regional markets as well as the local bourse amid improving consumer confidence environment in the US Commodities wise, the Brent crude oil price rose above USD82 after the EIA reported an inventory draw of 5.9m barrels last week, while the CPO price hovered above RM3,950.  
 
Sector focus: The technology sector could stage a rebound following a strong surge on Nasdaq overnight. Besides, we expect buying interest to emerge on the oil & gas sector amid firmer Brent oil price. Investors may also focus on the construction and building material sectors as the ECRL project will continue at a lower cost. 
 
Stocks to watch:  
O&G: DELEUM, DIALOG 
Financial-related: AMBANK, ELKDESA 
Property: ECOWLD, EWINT, SMI 
Building material: ANNJOO, PGF 
Others: CORAZA, DRBHCOM, GFM, PEKAT, PJBUMI, SNC, SYSCORP 
 
Source: M+ Online

 

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.

Related Stocks
Market Buzz
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment