M+ Online Morning Market Buzz - 27 Dec 22 
 
Dow Jones: 33,203.93 pts (+176.44pts, +0.53%) 
⬆️ Resistance:  34200 
⬇️ Support:  32000 
 
FBM KLCI: 1,474.68 pts (+6.33pts, +0.43%) 
⬆️ Resistance:  1510 
⬇️ Support:  1430 
 
HSI Index: 19,593.06 pts (-86.16pts, -0.44%) 
⬆️ Resistance:  20200 
⬇️ Support:  18600 
 
Crude Palm Oil: RM3,830 (-RM68, -1.74%) 
⬆️ Resistance:  4080 
⬇️ Support:  3740 
 
Brent Oil: $83.92 (+$2.94, +3.63%) 
⬆️ Resistance:  85.90 
⬇️ Support:  76.80 
 
Gold: $1,798.20 (-$21.87, -1.21%) 
⬆️ Resistance:  1870 
⬇️ Support:  1750 
 
M+ Online Technical Focus - 27 Dec 22 
Petra Energy Bhd: Leveraging onto the upbeat PETRONAS activities 
 
Trading Catalyst 
• Provides a comprehensive range of activities that span the upstream segment of the oil and gas industry. 
• Secured a one-year extension to the contract from Petronas Carigali Sdn Bhd for the provision of offshore maintenance, construction and modification (MCM) services. 
• Elevated oil prices (Brent hovering >USD80/bbl) bode well for the general oil & gas sector as upstream and midstream projects becomes more viable. 
• Technically, traders may anticipate for a potential flag-formation breakout above the RM3.36 level to target further upside towards the next resistances at RM3.45-3.54 with long term target at RM3.79. 
 
Technical View 
 
(i) PENERGY (S: RM0.815, R: RM0.93-0.975, LT TP: RM1.01, CL: RM0.81) 
 
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss 
 
Source: Bloomberg, M+ Online

Economic Releases For The Week (26/12/2022-30/12/2022):

27/12/2022
JP - Japan's Unemployment Rate, 7.30AM
JP - Japan's Retail Sales, 7.50AM

28/12/2022
US - United States' Pending Home Sales, 11.00PM

30/12/2022
MY - Malaysia's Producer Price Index, 12.00PM

Source: Bloomberg, 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.