M+ Online Morning Market Buzz - 7 Feb 23 
 
Dow Jones: 33,891.02 pts (-34.99pts, -0.10%) 
⬆️ Resistance:  35100 
⬇️ Support:  33000 
 
FBM KLCI: 1,490.47 pts (+0.67pts, +0.04%) 
⬆️ Resistance:  1,540 
⬇️ Support:  1,460 
 
HSI Index: 21,222.16 pts (-438.31pts, -2.02%) 
⬆️ Resistance:  22,700 
⬇️ Support:  20,700 
 
Crude Palm Oil: RM3,851 (+RM100, +2.67%) 
⬆️ Resistance:  3490 
⬇️ Support:  3670 
 
Brent Oil: $81.36 (+$1.36, +1.70%) 
⬆️ Resistance:  88.00 
⬇️ Support:  78.00 
 
Gold: $1,867.48 (+$2.51, +0.13%) 
⬆️ Resistance:  1950 
⬇️ Support:  1840 
 
M+ Online Technical Focus - 7 Feb 23 
Samaiden Group Bhd: Well positioned to capture rising demand for green energy 
 
Trading Catalyst 
• Engages as a total solutions provider for the renewable energy and environment sectors in the Asia region and has completed more than 200 projects with total installed capacity of 300MWp. 
• Outstanding orderbook of RM325.4m, implies an orderbook-to-cover ratio of 2.2x against FY22 revenue of RM150.7m will sustain earnings until 2025. 
• Leveraging onto the upcoming re-tabling of Budget 2023 with green energy expected to be one of the key focuses.  
• Technically, price has formed a flag-formation breakout above RM0.81 and may target the next resistances at RM0.845-0.89 with long term target at RM1.00. 
 
Technical View 
 
(i) SAMAIDEN (S: RM0.74, R: RM0.845-0.89, LT TP: RM1.00, CL: RM0.735) 
 
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI eked out small gains on the back of final hour buying interest. However, the global sentiment remained uncertain in view of the Nasdaq-led decline on Wall Street following the robust January employment figures which has raised concerns over potential more hawkish tone from the US Fed. Meanwhile, on the local front, investors could be focusing on the upcoming earning season and the re-tabling of Budget 2023 on the 24th of February. Commodities wise, the Brent crude oil traded above USD81, while the CPO price hovered above RM3,850. 

Sector focus: Given the pullback on Wall Street, coupled with the rising bond yield, the technology sector may see further pullback. Meanwhile, with the traders’ focus shifting towards the earnings season and re-tabling of Budget 2023, the industrial products & services, construction, O&G as well as selected consumer stocks may be under the limelight. 

Stocks to watch: 
Building material: AYS, EFRAME, EMETALL, MASTEEL, PMBTECH
Technology: IQGROUP, KGB, SAM, SKPRES
Telco: MAXIS, REDTONE
Medical-related: KOTRA, TMCLIFE
Solar-related: CYPARK, SAMAIDEN
Others: CHHB, DELEUM, QL, TNLOGIS

Source: M+ Online

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