M+ Online Morning Market Buzz - 16 Mar 23 
 
Dow Jones: 31,874.57 pts (-280.83pts, -0.87%) 
⬆️ Resistance:  33700 
⬇️ Support:  30900 
 
FBM KLCI: 1,403.93 pts (+10.10pts, +0.72%) 
⬆️ Resistance:  1490 
⬇️ Support:  1370 
 
HSI Index: 19,539.87 pts (+291.91pts, +1.52%) 
⬆️ Resistance:  20600 
⬇️ Support:  18800 
 
Crude Palm Oil: RM3,915 (-RM52, -1.31%) 
⬆️ Resistance:  4340 
⬇️ Support:  3890 
 
Brent Oil: $73.69 (-$3.76, -4.85%) 
⬆️ Resistance:  85.70 
⬇️ Support:  70.30 
 
Gold: $1,918.58 (+$14.57, +0.77%) 
⬆️ Resistance:  1980 
⬇️ Support:  1780 
 
M+ Online Technical Trading Stocks - 16 Mar 23 
 
Stock Name: PANTECH (5125) 
Entry: Buy above RM0.775 
Target: RM0.81 (4.5%), RM0.86 (11.0%) 
Stop: RM0.74 (-4.5%) 
Shariah: Yes 
Technical: Resistance breakout 
 
Stock Name: YBS (0025) 
Entry: Buy above RM0.58 
Target: RM0.625 (7.8%), RM0.655 (12.9%) 
Stop: RM0.55 (-5.2%) 
Shariah: Yes 
Technical: Flag-formation breakout 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI bounced higher to close above the key 1,400 level as investors picked up beaten-down stocks on the broader market. However, global uncertainties may not abate with the Wall Street turning mixed once again on the back of revived fears of a banking crisis; Credit Suisse is making the headlines after Saudi National Bank mentioned it will not provide further financial help for the bank. Thus, the local bourse may trade in consolidation mode prior to the US interest rate decision next week. Commodities wise, the Brent crude oil fell steeply below the USD75 zone, while the CPO price declined below the RM3,900 level. 
 
Sector focus: The energy and plantation sectors may stage a pullback in view of the slipping crude oil and CPO prices. Meanwhile, we expect overall sentiment on the banking sector may turn negative. Nevertheless, we favour the defensive sectors such as telco, consumer, healthcare and REIT amid the heightened volatility in the market.

Stocks to watch: 
Consumer: AJI, KTC, PADINI, PWF
Aviation-related: AAX, CAPITALA
Property: EWEIN, TROP
Gold-related: POHKONG, TOMEI
Others: EG, FIHB, KPJ, MCEHLDG, SAMAIDEN, SMRT, PANTECH

Source: M+ Online

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