M+ Online Morning Market Buzz - 14 Feb 23 
 
Dow Jones: 34,245.93 pts (+376.66pts, +1.11%) 
⬆ Resistance: 34900 
⬇ Support: 33000 
 
FBM KLCI: 1,475.17 pts (+0.58pts, +0.04%) 
⬆ Resistance: 1491 
⬇ Support: 1435 
 
HSI: 21,164.42 pts (-26.00pts, -0.12%) 
⬆ Resistance: 21700 
⬇ Support: 20700 
 
Crude Palm Oil: RM3,929.00 (+RM6.00, +0.15%) 
⬆ Resistance: 4000 
⬇ Support: 3770 
 
Brent Oil: $85.79 (-$0.60 -0.69%) 
⬆ Resistance: 87 
⬇ Support: 78 
 
Gold: $1,853.49 (-$12.08, -0.65%) 
⬆ Resistance: 1931 
⬇ Support: 1835 
 
M+ Online Technical Trading Stocks - 14 Feb 23 
 
Stock Name: LAGENDA (7179) 
Entry: Buy above RM1.26 
Target: RM1.32 (4.8%), RM1.34 (6.3%) 
Stop: RM1.21 (-4.0%) 
Shariah: Yes 
Technical: Flag-formation breakout 
 
Stock Name: MTAG (0213) 
Entry: Buy above RM0.68 
Target: RM0.735 (8.1%), RM0.75 (10.3%) 
Stop: RM0.64 (-5.9%) 
Shariah: Yes 
Technical: Breakout-pullback-continuation 
 
Source: Bloomberg, M+ Online
Market update: Final hour buying support lifted the FBM KLCI into the positive territory amidst bearish regional markets sentiment. With a broad-based rebound on Wall Street overnight, the market could be positioning ahead of the release of the US CPI inflation report, where most of the traders could be anticipating a cooling inflation. Hence, we believe the bullish sentiment is likely to spill over to the regional markets as well as the local bourse especially on the technology sector. Commodities wise, the Brent crude oil traded above USD85, while the CPO price hovered above RM3,900.  
  
Sector focus: We remain positive on construction, building material, and renewable energy sectors prior to the re-tabling of Budget 2023. Meanwhile, the technology sector may gain momentum in tandem with the rebound on Wall Street overnight. Besides, the energy sector may extend its gains amidst firm crude oil prices above USD85. 
 
Stocks to watch:  
Technology: HIGHTEC, MI, VS, WONG 
Building material: EMETALL, PMBTECH 
Construction: MUHIBAH, WCT 
O&G: ARMADA, CARIMIN, PENERGY, T7GLOBAL, YINSON 
Transportation & Logistics: TASCO, TNLOGIS 
Others: ANCOMNY, CCK, MASTER, SAMAIDEN, TAKAFUL, TANCO 
 
Source: M+ Online

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