M+ Online Morning Market Buzz - 17 Feb 23  
  
Dow Jones: 33,696.85 pts (-431.20pts, -1.26%)  
⬆ Resistance: 35000  
⬇ Support: 32800  
  
FBM KLCI: 1,484.26 pts (-3.93pts, -0.26%)  
⬆ Resistance: 1491  
⬇ Support: 1435  
  
HSI: 20,987.67 pts (+175.50pts, +0.84%)  
⬆ Resistance: 21700  
⬇ Support: 20300  
  
Crude Palm Oil: RM4,098.00 (R M+ 29.00, +0.71%)  
⬆ Resistance: 4100  
⬇ Support: 3850  
  
Brent Oil: $84.60 (-$0.78 -0.91%)  
⬆ Resistance: 87  
⬇ Support: 82  
  
Gold: $1,836.36 (+$0.35, +0.02%)  
⬆ Resistance: 1891  
⬇ Support: 1809  
  
M+ Online Technical Trading Stocks - 17 Feb 23  
  
Stock Name: DELEUM (5132)  
Entry: Buy above RM1.00  
Target: RM1.10 (10.0%), RM1.15 (15.0%)  
Stop: RM0.94 (-6.0%)  
Shariah: Yes  
Technical: Flag-formation breakout  
  
Stock Name: KYM (8362)  
Entry: Buy above RM0.645  
Target: RM0.70 (8.5%), RM0.725 (12.4%)  
Stop: RM0.60 (-7.0%)  
Shariah: Yes  
Technical: Resistance breakout  
  
Source: Bloomberg, M+ Online

Market update: The FBM KLCI slipped into the negative territory after midday break amidst quick profit-taking activities following a four-day rally. As investors parsed through the stronger-than-expected inflation report, global sentiment has again turned slightly weaker in the anticipation of a hawkish tone from the Fed moving forward. While bargain hunting activities may occur amid the reporting season, we believe cautious sentiment on the global front may capped the buying momentum on the local bourse. Commodities wise, the Brent crude oil price hovered above USD84, while the CPO price climbed above RM4,000.  
  
Sector focus: Given the CPO commodities prices crossed above RM4,000, the market may focus on the plantation sector prior to their earnings respectively. Closer to the re-tabling of Budget 2023, we remain positive on the construction, building material sectors as well as renewable energy and EV related stocks. 
 
Stocks to watch:  
O&G: DELEUM, T7GLOBAL, UZMA, YINSON 
Technology: FRONTKN, MI, VITROX 
Medical-related: CENGILD, KAREX, KOTRA, OPTIMAX 
Building material: EFRAME, KEINHIN 
Others: ANCOMNY, FOCUSP, KYM, MAXIS, NESTCON, SLVEST, SYF 
 
Source: M+ Online

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