M+ Online Morning Market Buzz - 6 Jan 23 
 
Dow Jones: 32,930.08 pts (-339.69pts, -1.02%) 
⬆️ Resistance:  34100 
⬇️ Support:  32200 
 
FBM KLCI: 1,480.93 pts (+11.38pts, +0.77%) 
⬆️ Resistance:  1540 
⬇️ Support:  1450 
 
HSI Index: 21,052.17 pts (+259.06pts, +1.25%) 
⬆️ Resistance:  21900 
⬇️ Support:  19000 
 
Crude Palm Oil: RM4,063 (-RM27, -0.66%) 
⬆️ Resistance:  4370 
⬇️ Support:  3970 
 
Brent Oil: $78.69 (+$0.85, +1.09%) 
⬆️ Resistance:  88.80 
⬇️ Support:  76.10 
 
Gold: $1,832.89 (-$21.67, -1.17%) 
⬆️ Resistance:  1910 
⬇️ Support:  1780 
 
Market update: The FBM KLCI rebounded into the positive territory as foreign funds turned into net buyer after 4-day outflow streak. While the reopening of China borders may continue to stimulate economic activities, the stock markets may remain volatile as recessionary concerns could still remain as top agenda following the release of US job data overnight, which may signalled further increase in interest rate outlook. Commodities wise, the Brent crude oil saw slight rebound, trading above the USD78 per barrel mark, while the CPO price hovered above RM4,000.  
 
Sector focus: As we anticipate renewable energy and EV policies to be crafted in the upcoming Budget 2023, the solar and EV segments may gain traction. Given the renewed worries on Covid-19 situation in China, buying interest have returned in gloves and share price could extend for another session. Meanwhile, the technology sector may turn lower, tracking overnight losses on Wall Street.  
 
Stocks to watch:  
Consumer: CYL, FIAMMA, KAWAN, MYNEWS, OWG, PADINI 
Medical: DPHARMA, HARTA, KPJ, TMCLIFE 
Building material: AJIYA, SIGN 
Transportation & Logistics: AIRPORT, SWIFT 
Technology: MTAG, VIS 
Others: HHGROUP, IOIPG, LCTITAN, SAMAIDEN, TAFI, YEWLEE 
 
Source: M+ Online

M+ Online Technical Trading Stocks - 6 Jan 23

Stock Name: YEWLEE (0248)
Entry: Buy above RM0.410
Target: RM0.440 (7.3%), RM0.450 (9.8%)
Stop: RM0.395 (-3.7%)
Shariah: Yes
Technical: Uptrend Intact

Stock Name: MYNEWS (5275)
Entry: Buy above RM0.635
Target: RM0.665 (4.7%), RM0.680 (7.1%)
Stop: RM0.615 (-3.1%)
Shariah: No
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

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