M+ Online Morning Market Buzz - 8 Mar 23 
 
Dow Jones: 32,856.46 pts (-574.98pts, -1.72%) 
⬆️ Resistance:  34300 
⬇️ Support:  31900 
 
FBM KLCI: 1,458.67 pts (+5.99pts, +0.41%) 
⬆️ Resistance:  1500 
⬇️ Support:  1420 
 
HSI Index: 20,534.48 pts (-68.71pts, -0.33%) 
⬆️ Resistance:  21500 
⬇️ Support:  19500 
 
Crude Palm Oil: RM4,159 (-RM46, -1.09%) 
⬆️ Resistance:  4520 
⬇️ Support:  4060 
 
Brent Oil: $83.29 (-$2.89, -3.35%) 
⬆️ Resistance:  88.50 
⬇️ Support:  80.80 
 
Gold: $1,813.45 (-$33.41, -1.81%) 
⬆️ Resistance:  1900 
⬇️ Support:  1780 
 
M+ Online Technical Focus - 8 Mar 23 
Infoline Tec Group Bhd: Cybersecurity solution specialist 
 
Trading Catalyst 
• Principally involved in providing IT infrastructure solutions, cybersecurity solutions, managed IT services, and trading of ancillary hardware/software. 
• Undertaking the enhancement of existing network operation centre (NOC), the establishment of a new security operation centre (SOC) as well as the disaster recovery centre. 
• Demand for cybersecurity may improve, owing to the adoption of big data in public sector and digital economy is expected to see exponential growth in coming years. 
• Technically, price has formed a breakout above RM0.93 and may charge towards the next resistances at RM1.00-1.07 with long term target set at RM1.15. 
 
Technical View 
 
(i) INFOTEC (S: RM0.87, R: RM1-1.07, LT TP: RM1.15, CL: RM0.865) 
 
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI bounced higher as banking and commodities related stocks gained momentum. On the global front, worries over interest rate hikes resurfaced following the hawkish remarks from the US Fed Chair Jerome Powell. Closer to home, investors may turn their focus towards more defensive sectors amid intensifying volatility in the market, while eyeing the Bank Negara Malaysia’s interest rate decision tomorrow. Commodities wise, the Brent crude oil price fell towards USD83, while the CPO traded above RM4,150. 
 
Sector focus: Banking, REITs, and consumer could be in focus given the heightened volatility on the global markets. Besides, with the Baltic Exchange Dry Index in an uptrend move again, the transportation & logistics sector may gain traction. On the other hand, the technology sector may see some selldown following the overnight plunge on Wall Street.

Stocks to watch: 
O&G: DELEUM, EATECH, MHB, T7GLOBAL, WASEONG
Consumer: BJFOOD, PELIKAN, PWROOT
Technology: EG, KGB, SYSTECH
Property: EWEIN, TANCO
Building material: CMSB, DANCO, SIGN
Others: GAMUDA, MASTER, TEXCYCL

Source: M+ Online

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