M+ Online Morning Market Buzz - 31 Jan 23 
 
Dow Jones: 33,717.09 pts (-260.99pts, -0.77%) 
⬆️ Resistance:  34900 
⬇️ Support:  32700 
 
FBM KLCI: 1,499.39 pts (+1.84pts, +0.12%) 
⬆️ Resistance:  1540 
⬇️ Support:  1470 
 
HSI Index: 22,069.73 pts (-619.17pts, -2.73%) 
⬆️ Resistance:  23200 
⬇️ Support:  21600 
 
Crude Palm Oil: RM3,928 (-RM8, -0.20%) 
⬆️ Resistance:  4080 
⬇️ Support:  3650 
 
Brent Oil: $85.59 (-$1.07, -1.23%) 
⬆️ Resistance:  90.80 
⬇️ Support:  83.00 
 
Gold: $1,923.17 (-$4.87, -0.25%) 
⬆️ Resistance:  1990 
⬇️ Support:  1880 
 
M+ Online Technical Trading Stocks - 31 Jan 23 
 
Stock Name: DELEUM (5132) 
Entry: Buy above RM1.01 
Target: RM1.08 (6.9%), RM1.15 (13.9%) 
Stop: RM0.955 (-5.4%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Stock Name: TASCO (5140) 
Entry: Buy above RM0.915 
Target: RM0.95 (3.8%), RM0.995 (8.7%) 
Stop: RM0.885 (-3.3%) 
Shariah: Yes 
Technical: Resistance breakout 
 
Source: Bloomberg, M+ Online

Market update: Despite the buying support within the banking heavyweights, the FBM KLCI continues to end marginally below the key 1,500 level. However, we noticed the FBM Small Cap index has been trending positively over the past weeks; supported by the broad market recovery after the reopening of China’s border theme. Nevertheless, global equities may endure a shaky week as investors turn cautious ahead of the FOMC meeting and a series of economic data in the US. Commodities wise, the Brent crude oil is hovering around USD 84-85 zone, while the CPO was trading above RM3,900/MT. 

Sector focus: We expect the energy sector may continue to trend higher as crude oil price remains firm above USD80. Travelling related sectors may pick up as China's reopening continues to propel global air travel. On the other hand, the technology sector may face profit taking activities following a significant pullback in Nasdaq overnight.

Stocks to watch: 

Consumer: ABLEGLOB, GCB, INNATURE, MFLOUR, MYNEWS, ORGABIO, WELLS
Transportation & Logistics: PTRANS, SYSCORP, WPRTS
O&G: DAYANG, DELEUM
Property: EWEIN, TELADAN
Medical-related: DPHARMA, TMCLIFE
Others: AFFIN, MNHLDG, NESTCON, PMBTECH

Source: M+ Online

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