M+ Online Morning Market Buzz - 28 Dec 22 
 
Dow Jones: 33,241.56 pts (+37.63pts, +0.11%) 
⬆️ Resistance:  34200 
⬇️ Support:  32000 
 
FBM KLCI: 1,474.69 pts (+0.01pts, +0.00%) 
⬆️ Resistance:  1510 
⬇️ Support:  1430 
 
HSI Index: 19,593.06 pts (-86.16pts, -0.44%) 
⬆️ Resistance:  20200 
⬇️ Support:  18700 
 
Crude Palm Oil: RM4,118 (+RM18, +0.44%) 
⬆️ Resistance:  4200 
⬇️ Support:  3740 
 
Brent Oil: $84.33 (+$0.41, +0.49%) 
⬆️ Resistance:  87.40 
⬇️ Support:  78.00 
 
Gold: $1,813.69 (+$15.49, +0.86%) 
⬆️ Resistance:  1870 
⬇️ Support:  1750 
 
M+ Online Technical Trading Stocks - 28 Dec 22 
 
Stock Name: TSH (9059) 
Entry: Buy above RM1.07 
Target: RM1.11 (3.7%), RM1.14 (6.5%) 
Stop: RM1.03 (-3.7%) 
Shariah: Yes 
Technical: Consolidation breakout 
 
Stock Name: RENEUCO (7130) 
Entry: Buy above RM0.305 
Target: RM0.325 (6.6%), RM0.35 (14.8%) 
Stop: RM0.29 (-4.9%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI traded unchanged at the start of holiday-shortened week amid worries over the worsening Covid-19 situation in China. While quick profit-taking activities on Wall Street could imply that the outlook remained gloomy on the global front, we believe the local bourse may poised for further recovery on the back of bargain-hunting activities as China’s loosening of Covid-19 quarantine measures should boost tourism activities going forward. Commodities wise, the Brent crude oil price steadied above USD84 on prospects for reopening demand from China as well as Russia’s banning of supply to countries that impose a price cap. Meanwhile, the CPO price settled above RM4,100. 

Sector focus: Rallies in healthcare stocks may continue as China’s plan on loosening its Covid-19 quarantine rule for inbound travellers may lead to a higher number of Covid-19 cases. Besides, investors may look out for commodities related stocks such as oil & gas and plantation amid rising commodities prices.

Stocks to watch: 
O&G: CARIMIN, DAYANG, DIALOG, MHB
Plantation: BPLANT, JTIASA, THPLANT, TSH
Renewable energy: CYPARK, RENEUCO
Building material: EMETALL, LBALUM, PMBTECH
Others: CCK, PECCA

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.