M+ Online Morning Market Buzz - 12 Jan 23 
 
Dow Jones: 33,973.01 pts (+268.91pts, +0.80%) 
⬆️ Resistance:  34700 
⬇️ Support:  32200 
 
FBM KLCI: 1,487.87 pts (+2.74pts, +0.18%) 
⬆️ Resistance:  1530 
⬇️ Support:  1450 
 
HSI Index: 21,436.05 pts (+104.59pts, +0.49%) 
⬆️ Resistance:  22200 
⬇️ Support:  20500 
 
Crude Palm Oil: RM3,891 (-RM20, -0.51%) 
⬆️ Resistance:  4260 
⬇️ Support:  3820 
 
Brent Oil: $82.67 (+$2.57, +3.21%) 
⬆️ Resistance:  84.70 
⬇️ Support:  76.10 
 
Gold: $1,875.69 (-$1.34, -0.07%) 
⬆️ Resistance:  1930 
⬇️ Support:  1790 
 
M+ Online Technical Trading Stocks - 12 Jan 23 
 
Stock Name: CARIMIN (5257) 
Entry: Buy above RM0.615 
Target: RM0.645 (4.9%), RM0.67 (8.9%) 
Stop: RM0.59 (-4.1%) 
Shariah: Yes 
Technical: Breakout-pullback-continuation 
 
Stock Name: MCEHLDG (7004) 
Entry: Buy above RM1.41 
Target: RM1.47 (4.3%), RM1.51 (7.1%) 
Stop: RM1.36 (-3.5%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI attempted a modest rebound, powered by gains in selected telecommunication and banking heavyweights amid improving sentiment following the China reopening theme. As the Wall Street extended its gains amid hopes for easing US inflation, the local bourse is likely to build on yesterday’s momentum. Meanwhile, next event that the market will be watching out could be the upcoming FOMC meeting that will be held on 31-Jan to 1-Feb. Commodities wise, the Brent crude oil price jumped above USD82 per barrel mark as hopes for improved global economic outlook outweighed a build on US crude stockpiles. Meanwhile, the CPO price hovered above RM3,890. 

Sector focus: The tourism and aviation sectors may remain resilient amid arrival of Chinese travellers. Besides, with Nasdaq notching fourth day of gains, the technology sector may sustain its uptrend move. Meanwhile, the energy sector may outperform the broader market following a surge in crude oil price.

Stocks to watch: 
Technology: AEMULUS, CTOS, FPI, JFTECH, JHM, QES
O&G: DELEUM, HIBISCS, MHB
Consumer: GCB, ORGABIO, PELIKAN
Building material: LIONIND, PMETAL
Others: DPHARMA, EWINT, PECCA, PTRANS, REDTONE, SENFONG, TAKAFUL

Source: M+ Online

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