KLSE Traders Update and Ideas

Daily Market Update - 10 Jan 2023 (PENERGY, UNISEM)

Publish date: Tue, 10 Jan 2023, 08:35 AM
0 3,584
This blog provides market updates and trading ideas that I gather from around the web.

M+ Online Morning Market Buzz - 10 Jan 23 
Dow Jones: 33,517.65 pts (-112.96pts, -0.34%) 
⬆️ Resistance:  34700 
⬇️ Support:  32200 
FBM KLCI: 1,493.42 pts (+12.87pts, +0.87%) 
⬆️ Resistance:  1530 
⬇️ Support:  1450 
HSI Index: 21,388.34 pts (+396.70pts, +1.89%) 
⬆️ Resistance:  22000 
⬇️ Support:  19000 
Crude Palm Oil: RM4,031 (-RM87, -2.11%) 
⬆️ Resistance:  4370 
⬇️ Support:  3900 
Brent Oil: $79.65 (+$1.08, +1.37%) 
⬆️ Resistance:  88.80 
⬇️ Support:  76.10 
Gold: $1,871.81 (+$6.12, +0.33%) 
⬆️ Resistance:  1920 
⬇️ Support:  1790 
M+ Online Technical Trading Stocks - 10 Jan 23 
Stock Name: PENERGY (5133) 
Entry: Buy above RM0.89 
Target: RM0.93 (4.5%), RM0.975 (9.6%) 
Stop: RM0.85 (-4.5%) 
Shariah: Yes 
Technical: Resistance breakout 
Stock Name: UNISEM (5005) 
Entry: Buy above RM2.79 
Target: RM2.99 (7.2%), RM3.09 (10.8%) 
Stop: RM2.64 (-5.4%) 
Shariah: Yes 
Technical: Monitor for breakout 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI mounted solid recovery in tandem with the regional peers, cheering the positive movements on Wall Street last Friday as reopening of China borders lifted investors’ sentiment. Should the key index sustain above the SMA200 zone, the sentiment will likely to turn more bullish over the near term. However, given the emergence of cautious sentiment on Wall Street overnight due to lingering worries over global inflation, it may cap the upside potential on the local front. Commodities wise, the Brent crude oil price climbed above USD79 per barrel, while the CPO price hovered above RM4,000. 

Sector focus: Buying momentum in technology sector should sustain in tandem with Nasdaq’s gains. Meanwhile, the tourism, aviation, consumer as well as transportation & logistics sectors may see further upside following the China’s reopening theme. Also, we expect O&G stocks to recover in line with rebound in Brent oil price.

Stocks to watch: 
Building material: AYS, MSC
Construction: EIB, WCT

Source: M+ Online



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.

Related Stocks
More articles on KLSE Traders Update and Ideas
Be the first to like this. Showing 0 of 0 comments

Post a Comment