M+ Online Morning Market Buzz - 15 Mar 23 
 
Dow Jones: 32,155.40 pts (+336.26pts, +1.06%) 
⬆️ Resistance:  33700 
⬇️ Support:  31000 
 
FBM KLCI: 1,393.83 pts (-28.00pts, -1.97%) 
⬆️ Resistance:  1490 
⬇️ Support:  1370 
 
HSI Index: 19,247.96 pts (-448.01pts, -2.27%) 
⬆️ Resistance:  20700 
⬇️ Support:  18800 
 
Crude Palm Oil: RM4,028 (+RM46, +1.16%) 
⬆️ Resistance:  4340 
⬇️ Support:  3890 
 
Brent Oil: $77.45 (-$3.32, -4.11%) 
⬆️ Resistance:  85.70 
⬇️ Support:  75.40 
 
Gold: $1,904.01 (-$9.69, -0.51%) 
⬆️ Resistance:  1960 
⬇️ Support:  1780 
 
M+ Online Technical Focus - 15 Mar 23 
Nova Wellness Group Bhd: Phase 2 expansion to spur growth 
 
Trading Catalyst 
• Engages in the development and production of nutraceutical products under its house brand and for its OEM customers whereby products are sold to more than 900 retail distributors. 
• Embarking onto the construction of Phase 2 of new plant in bid to expand production facilities for skincare products. 
• Riding onto the improved demand for healthcare supplement amid the rising healthcare awareness in the society following the Covid-19 pandemic. 
• Technically, traders may anticipate for a short-term breakout above RM0.90 to target the next resistances at RM0.93-0.95 with long term target set at RM0.97. 
 
Technical View 
 
(i) NOVA (S: RM0.86, R: RM0.93-0.95, LT TP: RM0.97, CL: RM0.855) 
 
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss 
 
Source: Bloomberg, M+ Online

Lingering fears over the collapse of the US banks rippled through markets, dragging the FBM KLCI below the key 1,400 level. Following a five-session rout, the local bourse is likely to see some rebound along with the regional markets as the largely-in-line inflation data in the US could ease investors’ concern on aggressive interest rate hikes next week. Economic indicators wise, the European Central Bank’s interest rate decision and Eurozone’s inflation rate will be the next focus. Brent crude oil price tumbled towards USD77, while the CPO traded above RM4,000. 
 
Sector focus: The strong rebound on Wall Street may spill over to the local bourse, benefitting the technology sector. Investors may see bargain hunting activities in beaten-down sectors such as financial services and industrial products & services. On the other hand, the energy stocks could still be under pressure due to weaker crude oil prices below USD80.  

Stocks to watch: 
Consumer: CAB, FOCUSP, KTC, PADINI, PWF
Medical-related: KPJ, NOVA
O&G: ARMADA
Property: TANCO
Others: GAMUDA, PIE, SAMAIDEN, SMRT, TIMECOM, YTLPOWR

Source: M+ Online

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