Market update: The FBM KLCI continues to trade positively, driven by the ongoing year-end window dressing activities in the banking and telco heavyweights. Also, with the positive rebound on Wall Street, it may spillover to the local front and trading activities to stay on an upbeat manner; the FBM KLCI should revisit the 1,500 level. Traders will be focusing on the China’s borders reopening catalyst and position themselves for the recovery theme trades. Commodities wise, the Brent crude oil price settled flat along USD83, while the crude palm oil price is hovering above the RM4,000.  
 
Sector focus: Following the significant rebound on Wall Street, traders may position themselves for the technology sector today. Meanwhile, we opine that window dressing activities may lift banking, medical, telco and gaming stocks. We also favour shipping, tourism, consumer and airports businesses under the China reopening theme at least for the near term. 
 
Stocks to watch:  
Consumer: BJFOOD, NTPM 
Transportation and logistics: AIRPORT, MISC 
Medical: IHH, KAREX 
Building material: EMETALL, LIONIND, PMBTECH 
Tourism: GENM, GENTING, OWG 
Technology: INFOM, UWC 
Solar-related: SAMAIDEN, SLVEST 
Others: CFM, HHGROUP, LCTITAN, PECCA, UEMS 
 
M+ Online Morning Market Buzz - 30 Dec 22 
 
Dow Jones: 33,220.80 pts (+345.09pts, +1.05%) 
⬆️ Resistance:  34100 
⬇️ Support:  32200 
 
FBM KLCI: 1,491.63 pts (+11.52pts, +0.78%) 
⬆️ Resistance:  1530 
⬇️ Support:  1440 
 
HSI Index: 19,741.14 pts (-157.77pts, -0.79%) 
⬆️ Resistance:  20600 
⬇️ Support:  19000 
 
Crude Palm Oil: RM4,089 (-RM1, -0.02%) 
⬆️ Resistance:  4220 
⬇️ Support:  3740 
 
Brent Oil: $83.46 (-$0.53, -0.63%) 
⬆️ Resistance:  87.40 
⬇️ Support:  79.70 
 
Gold: $1,814.91 (+$10.56, +0.59%) 
⬆️ Resistance:  1870 
⬇️ Support:  1760 
 
Source: Bloomberg, M+ Online

M+ Online Technical Trading Stocks - 30 Dec 22

Stock Name: NTPM (5066)
Entry: Buy above RM0.465
Target: RM0.485 (4.3%), RM0.500 (7.5%)
Stop: RM0.450 (-3.2%)
Shariah: Yes
Technical: Flag-formation breakout

Stock Name: OWG (5260)
Entry: Buy above RM0.575
Target: RM0.600 (4.3%), RM0.630 (9.6%)
Stop: RM0.560 (-2.6%)
Shariah: Yes
Technical: Flag-formation breakout

Source: Bloomberg, M+ Online

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