M+ Online Morning Market Buzz - 9 Mar 23 
 
Dow Jones: 32,798.40 pts (-58.06pts, -0.18%) 
⬆️ Resistance:  34300 
⬇️ Support:  32000 
 
FBM KLCI: 1,454.66 pts (-4.01pts, -0.27%) 
⬆️ Resistance:  1500 
⬇️ Support:  1420 
 
HSI Index: 20,051.25 pts (-483.23pts, -2.35%) 
⬆️ Resistance:  21500 
⬇️ Support:  19600 
 
Crude Palm Oil: RM4,186 (+RM6, +0.14%) 
⬆️ Resistance:  4520 
⬇️ Support:  4030 
 
Brent Oil: $82.66 (-$0.63, -0.76%) 
⬆️ Resistance:  88.50 
⬇️ Support:  80.50 
 
Gold: $1,813.80 (+$0.35, +0.02%) 
⬆️ Resistance:  1900 
⬇️ Support:  1780 
 
M+ Online Technical Trading Stocks - 9 Mar 23 
 
Stock Name: BAUTO (5248) 
Entry: Buy above RM2.16 
Target: RM2.22 (2.8%), RM2.30 (6.5%) 
Stop: RM2.10 (-2.8%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Stock Name: SUCCESS (7207) 
Entry: Buy above RM0.72 
Target: RM0.76 (5.6%), RM0.785 (9.0%) 
Stop: RM0.695 (-3.5%) 
Shariah: Yes 
Technical: Breakout-pullback-continuation 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI surrendered yesterday’s gains in line with the regional markets’ movements as investors digested the hawkish comments from the US Fed Chair during the congressional testimony. On Wall Street, we believe it might consolidate over the near term ahead of the CPI data that will be released next week, as this might dictate the interest rate direction going forward. The local bourse may remain sideways amid growing selling pressure from the foreign funds, while awaiting the OPR decision by BNM today. Commodities wise, the Brent crude oil traded below USD83, while the CPO is hovering above RM4,150. 
 
Sector focus: Trading interest in the O&G and plantation sectors may cool down with the underlying commodities prices flattening. Meanwhile, investors may position themselves in the banking sector prior to the MPC meeting. With the mixed Wall Street tone, bargain hunting activities may emerge within the tech sector.

Stocks to watch: 
O&G: CARIMIN, EATECH, PERDANA, T7GLOBAL, WASEONG
Consumer: FOCUSP, PELIKAN
Construction: GAMUDA, NADIBHD
Others: EWINT, MASTER, NYLEX, SAMAIDEN, VOLCANO, YENHER, YTLPOWR

Source: M+ Online

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