M+ Online Morning Market Buzz - 28 Feb 23
Stock Name: MALAKOF (5264)
Entry: Buy above RM0.695
Target: RM0.725 (4.3%), RM0.75 (7.9%)
Stop: RM0.67 (-3.6%)
Shariah: Yes
Technical: Resistance breakout
Stock Name: KRONO (0176)
Entry: Buy above RM0.52
Target: RM0.56 (7.7%), RM0.60 (15.4%)
Stop: RM0.485 (-6.7%)
Shariah: Yes
Technical: Hammer candle
Source: Bloomberg, M+ Online
Market update: The FBM KLCI inched lower after hovering mostly in the red, with selling pressure seen in other sectors outweighing gains in the banking heavyweights. The rebound attempt on Wall Street overnight may trigger the regional markets to recover some grounds. Meanwhile, investors are awaiting the consumer confidence data and Chicago PMI to gauge the US Fed’s tone in interest rate direction. We reckon cautious sentiment will prevail on the local front with foreign investors turning net sellers, but bargain hunting may be noticed. Commodities wise, the Brent crude oil price hovered above USD82 per barrel mark, while the CPO traded above RM4,220.
Sector focus: Investors may see some bargain hunting activities emerging in the technology sector following a Nasdaq-led rebound on Wall Street. Besides, investors may continue to focus on the energy sector in view of the firm crude oil price hovering above USD82.
Stocks to watch:
O&G: NAIM, SEALINK, YINSON
Consumer: CCK, PELIKAN, PWROOT, SDS
Technology: CORAZA, K1
Property: PGB, TROP
Others: AXIATA, SYF, TEXCYCL, UMW, VOLCANO, WCEHB
Market update: The FBM KLCI inched lower after hovering mostly in the red, with selling pressure seen in other sectors outweighing gains in the banking heavyweights. The rebound attempt on Wall Street overnight may trigger the regional markets to recover some grounds. Meanwhile, investors are awaiting the consumer confidence data and Chicago PMI to gauge the US Fed’s tone in interest rate direction. We reckon cautious sentiment will prevail on the local front with foreign investors turning net sellers, but bargain hunting may be noticed. Commodities wise, the Brent crude oil price hovered above USD82 per barrel mark, while the CPO traded above RM4,220.
Sector focus: Investors may see some bargain hunting activities emerging in the technology sector following a Nasdaq-led rebound on Wall Street. Besides, investors may continue to focus on the energy sector in view of the firm crude oil price hovering above USD82.
Stocks to watch:
O&G: NAIM, SEALINK, YINSON
Consumer: CCK, PELIKAN, PWROOT, SDS
Technology: CORAZA, K1
Property: PGB, TROP
Others: AXIATA, SYF, TEXCYCL, UMW, VOLCANO, WCEHB
Source: M+ Online
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