M+ Online Morning Market Buzz - 21 Feb 23 
 
Dow Jones: 33,826.69 pts (unch, 0.00%) 
⬆️ Resistance: 35000 
⬇️ Support: 32800 
 
FBM KLCI: 1,473.46 pts (-3.44pts, -0.23%) 
⬆️ Resistance: 1489 
⬇️ Support: 1435 
 
HSI: 20,886.96 pts (+167.15pts, +0.81%) 
⬆️ Resistance: 21200 
⬇️ Support: 20300 
 
Crude Palm Oil: RM4,193.00 (+RM26.00, +0.62%) 
⬆️ Resistance: 4300 
⬇️ Support: 3840 
 
Brent Oil: $83.77 (+$0.77 +0.93%) 
⬆️ Resistance: 87 
⬇️ Support: 81 
 
Gold: $1,841.38 (-$0.98, -0.05%) 
⬆️ Resistance: 1891 
⬇️ Support: 1809 
 
M+ Online Technical Trading Stocks - 21 Feb 23 
 
Stock Name: CENGILD (0243) 
Entry: Buy above RM0.505 
Target: RM0.535 (5.9%), RM0.555 (9.9%) 
Stop: RM0.475 (-5.9%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Stock Name: ANNJOO (6556) 
Entry: Buy above RM1.44 
Target: RM1.54 (6.9%), RM1.65 (14.6%) 
Stop: RM1.34 (-6.9%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI was in the midst of a pullback, declining for the third session as investors were staying on the sidelines ahead of the retabling of Budget 2023. Also, investors may continue to monitor the geopolitical tensions as the European Union aims to adopt a new package of sanctions against Russia this week, as well as the US President Biden’s visit to Ukraine. On the local front, earnings reports and the Budget 2023 re-tabling on Friday will remain as the key focus while investors monitor for a series of global economic data. Meanwhile, Commodities wise, the Brent crude oil traded above USD83, while the CPO price stayed above RM4,190.  
  
Sector focus: The renewable energy, EVs and construction sectors may gain momentum prior to the Budget 2023 re-tabling. Meanwhile, the commodities related counters in energy and plantation sectors could remain under the limelight amid firmer commodities prices.  
 
Stocks to watch:  
Building material & Construction: CMSB, GAMUDA, NESTCON, WCEHB 
O&G: NAIM, YINSON 
Technology: EG, KESM 
Medical-related: CENGILD, DPHARMA 
Telco: DIGI, MAXIS 
Automotive: DRBHCOM, PECCA 
Others: MASTER, SDS, TOYOVEN 
 
Source: M+ Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.