M+ Online Morning Market Buzz - 29 Dec 22 
 
Dow Jones: 32,875.71 pts (-365.85pts, -1.10%) 
⬆️ Resistance:  34100 
⬇️ Support:  32000 
 
FBM KLCI: 1,480.11 pts (+5.42pts, +0.37%) 
⬆️ Resistance:  1510 
⬇️ Support:  1440 
 
HSI Index: 19,898.91 pts (+305.85pts, +1.56%) 
⬆️ Resistance:  20600 
⬇️ Support:  19000 
 
Crude Palm Oil: RM4,036 (-RM51, -1.25%) 
⬆️ Resistance:  4220 
⬇️ Support:  3740 
 
Brent Oil: $83.26 (-$1.07, -1.27%) 
⬆️ Resistance:  87.40 
⬇️ Support:  79.10 
 
Gold: $1,804.35 (-$9.34, -0.51%) 
⬆️ Resistance:  1870 
⬇️ Support:  1750 
 
Market update: The FBM KLCI outperformed the regional peers, driven by year-end window dressing activities and persisting buying from foreign funds (5-day cumulative stood at RM222.3m). Global sentiment might remain tilted to the downside in view of the overnight slump on Wall Street. Nevertheless, the local bourse should continue to be supported by year-end window dressing as well as elevated firmer commodities price. The Brent crude oil price settled above USD83, while the CPO price hovered above RM4,000. Meanwhile, gold price snapped two-day uptrend but stabilised above USD1,800.  
 
Sector focus: Investors may favour big cap stocks amid year-end window dressing activities; the banking and telecommunication sectors could be in the limelight. As commodities prices remained elevated, buying momentum should remain strong in the energy and plantation sector. On the other hand, the technology sector may remain under pressure in tandem with Nasdaq’s overnight losses. 
 
Stocks to watch:  
O&G: ARMADA, DIALOG 
Plantation: INNO, KMLOONG 
Consumer: CTOS, PTRB 
Transportation and logistics: AAX, WPRTS 
Medical: KPJ, OPTIMAX 
Building material: ENGTEX, PMBTECH 
Others: BIMB, DIGI, LCTITAN, PECCA, RENEUCO, TAFI 
 
Source: M+ Online

M+ Online Technical Trading Stocks - 29 Dec 22

Stock Name: LCTITAN (5284)
Entry: Buy above RM1.430
Target: RM1.500 (4.9%), RM1.550 (8.4%)
Stop: RM1.380 (-3.5%)
Shariah: Yes
Technical: Bottom rebound

Stock Name: CTOS (5301)
Entry: Buy above RM1.470
Target: RM1.500 (2.0%), RM1.610 (9.5%)
Stop: RM1.410 (-4.1%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online
 

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