M+ Online Morning Market Buzz - 15 Feb 23  
  
Dow Jones: 34,089.27 pts (-156.66pts, -0.46%)  
⬆ Resistance: 35000  
⬇ Support: 33000  
  
FBM KLCI: 1,483.97 pts (+9.38pts, +0.64%)  
⬆ Resistance: 1491  
⬇ Support: 1435  
  
HSI: 21,113.76 pts (-50.66pts, -0.24%)  
⬆ Resistance: 21700  
⬇ Support: 20600  
  
Crude Palm Oil: RM3,955.00 (+RM1.00, +0.03%)  
⬆ Resistance: 4000  
⬇ Support: 3770  
  
Brent Oil: $85.31 (-$1.30 -1.50%)  
⬆ Resistance: 87  
⬇ Support: 78  
  
Gold: $1,854.15 (+$0.70, +0.04%)  
⬆ Resistance: 1891  
⬇ Support: 1827  
  
M+ Online Technical Focus - 15 Feb 23  
Malayan Cement Bhd: Rising production alongside with higher cement prices  
  
Trading Catalyst  
• Incorporated since 1950 and is now positioned as one of the leading cement players in Malaysia.  
• Malaysia’s rising cement production to 2.1m tonnes in November implies that demand for building works is garnering pace in recent times.  
• To leverage onto the re-tabling of Budget 2023; this may see mega-infrastructure projects to remain on the table. 
• Technically, traders may anticipate for a potential flag-formation breakout above RM2.54 to target the next resistances at RM2.70-2.84 with long term target set at RM2.94.  
  
Technical View  
  
(i) MCEMENT (S: RM2.38, R: RM2.70-2.84, LT TP: RM2.94, CL: RM2.37)  
  
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss  
  
Source: Bloomberg, M+ Online

Market Update: The FBM KLCI sustained its gains from the previous session prior to the release of the US consumer price index (CPI) data for January 2023. However, following a mixed performance on Wall Street due to a hotter-than-expected inflation, we believe the global sentiment will remain tepid at least for the near term while looking for fresh catalysts. Closer to home, investors may continue to focus on earnings reporting season as well as the re-tabling of Budget 2023. Commodities wise, the Brent crude oil price stayed above USD85, while the CPO price hovered above RM3,900.  
  
Sector focus: The construction and building material sector may gain traction ahead of the re-tabling of Budget 2023. Meanwhile, the electrical vehicle (EV) related sector may shine following Malaysia International Trade and Industry’s announcement on its target to provide up to 4,000 EV charging points in Malaysia. 
 
Stocks to watch:  
Technology: BETA, FPI, INFOTEC, KGB, KRONO 
Building material: AJIYA, CMSB, EMETALL, MCEMENT 
O&G: DIALOG, T7GLOBAL 
Consumer: KAWAN, SEM, OWG  
Others: ANCOMNY, CENGILD, DRBHCOM, KAREX, NCT, PPHB, SIGN, TOYOVEN 
 
Source: M+ Online

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