M+ Online Morning Market Buzz - 23 Dec 22 
 
Dow Jones: 33,027.49 pts (-348.99pts, -1.05%) 
⬆️ Resistance:  34200 
⬇️ Support:  32000 
 
FBM KLCI: 1,468.35 pts (+5.80pts, +0.40%) 
⬆️ Resistance:  1510 
⬇️ Support:  1430 
 
HSI Index: 19,679.22 pts (+518.73pts, +2.71%) 
⬆️ Resistance:  20200 
⬇️ Support:  18600 
 
Crude Palm Oil: RM3,863 (-RM35, -0.90%) 
⬆️ Resistance:  4100 
⬇️ Support:  3780 
 
Brent Oil: $80.98 (-$1.22, -1.48%) 
⬆️ Resistance:  85.60 
⬇️ Support:  76.80 
 
Gold: $1,792.52 (-$21.87, -1.21%) 
⬆️ Resistance:  1870 
⬇️ Support:  1740 
 

Market update: The FBM KLCI recovered from three-session losses amid improved sentiment on Wall Street. However, we believe the global sentiment may remain weak as selling pressure returned on Wall Street with the recession worries returned in the expectation of further monetary tightening from global central banks. Meanwhile, investors might be eyeing the quarantine cutting measure for overseas travellers from next month in China, but having cautious tone given the Covid-19 pandemic is still not resolved. Nevertheless, we expect the downside risk shall be cushioned by the return of foreign funds. Commodities wise, both the Brent crude oil and CPO prices declined, hovering around USD80 and RM3,850 respectively.   
 
Sector focus: For the Covid-19 situation in China, we expect traders focus in glove companies. Meanwhile, YINSON’s decent result could spur interest within the O&G sector. In contrast, the technology sector may face mild selldown following a retreat on Wall Street Nasdaq. 
 
Stocks to watch:  
O&G: CARIMIN, DIALOG 
Consumer: CCK, MASTER, SENHENG 
Medical-related: CAREPLS, DPHARMA, HARTA, SUPERMX 
Technology & Telco: MICROLN, MYEG, PENTA, SKPRES 
Building material: MSC, PGF 
Others: AMBANK, DRBHCOM, RESINTC, SMI 
 
Source: M+ Online

M+ Online Technical Trading Stocks - 23 Dec 22

Stock Name: DIALOG (7277)
Entry: Buy above RM2.33
Target: RM2.45 (5.2%), RM2.55 (9.4%)
Stop: RM2.24 (-3.9%)
Shariah: Yes
Technical: Consolidation breakout

Stock Name: CCK (7035)
Entry: Buy above RM0.75
Target: RM0.78 (4.0%), RM0.80 (6.7%)
Stop: RM0.71 (-5.3%)
Shariah: Yes
Technical: Flag-formation breakout

Source: Bloomberg, M+ Online

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