M+ Online Morning Market Buzz - 7 Mar 23 
 
Dow Jones: 33,431.44 pts (+40.47pts, +0.12%) 
⬆️ Resistance:  34300 
⬇️ Support:  31900 
 
FBM KLCI: 1,452.68 pts (-0.87pts, -0.06%) 
⬆️ Resistance:  1500 
⬇️ Support:  1420 
 
HSI Index: 20,603.19 pts (+35.65pts, +0.17%) 
⬆️ Resistance:  21200 
⬇️ Support:  19400 
 
Crude Palm Oil: RM4,276 (-RM7, -0.16%) 
⬆️ Resistance:  4520 
⬇️ Support:  4060 
 
Brent Oil: $86.18 (+$0.35, +0.41%) 
⬆️ Resistance:  88.10 
⬇️ Support:  80.60 
 
Gold: $1,846.86 (-$9.62, -0.52%) 
⬆️ Resistance:  1900 
⬇️ Support:  1770 
 
M+ Online Technical Trading Stocks - 7 Mar 23 
 
Stock Name: INFOTEC (0253) 
Entry: Buy above RM0.93 
Target: RM1.00 (7.5%), RM1.07 (15.1%) 
Stop: RM0.87 (-6.5%) 
Shariah: No 
Technical: Monitor for breakout 
 
Stock Name: FM (7210) 
Entry: Buy above RM0.62 
Target: RM0.655 (5.6%), RM0.67 (8.1%) 
Stop: RM0.60 (-3.2%) 
Shariah: Yes 
Technical: Breakout-pullback-continuation 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI edged lower as investors remained cautious awaiting the Fed Chairman Jerome Powell’s comment prior to the congressional testimony; foreign funds continued its outflow for another session, with cumulative 5-day net selling standing at -RM343.2m. Investors’ risk off mode prior to the congressional testimony in the US, coupled with the Bank Negara Malaysia’s interest rate decision may drag the local bourse into a range bound trading environment. Commodities wise, the Brent crude oil traded above USD86 per barrel, while the CPO price hovered above RM4,250. 
 
Sector focus: The energy sector may extend its gains from the previous session as crude oil commodities prices were pushed higher. Besides, sectors such as banking, REITs, and consumer, especially the poultry stocks might be in focus as investors might be looking for fresh catalyst to trade for the near term.

Stocks to watch: 
O&G: DAYANG, MHB, PANTECH, UZMA
Property: EWEIN, TANCO, VLB
Consumer: FOCUSP, KTC
Technology: VIS, VSTECS
Financial-related: RCECAP, TUNEPRO
Others: LYC, MUHIBAH, PTRANS, SIGN, SYF, YENHER

Source: M+ Online

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