M+ Online Morning Market Buzz - 17 Mar 23 
 
Dow Jones: 32,246.55 pts (+371.98pts, +1.17%) 
⬆️ Resistance:  33100 
⬇️ Support:  30900 
 
FBM KLCI: 1,391.60 pts (-12.33pts, -0.88%) 
⬆️ Resistance:  1480 
⬇️ Support:  1370 
 
HSI Index: 19,203.91 pts (-335.96pts, -1.72%) 
⬆️ Resistance:  20200 
⬇️ Support:  18800 
 
Crude Palm Oil: RM3,936 (+RM3, +0.08%) 
⬆️ Resistance:  4330 
⬇️ Support:  3820 
 
Brent Oil: $74.70 (+$1.01, +1.37%) 
⬆️ Resistance:  85.20 
⬇️ Support:  70.30 
 
Gold: $1,919.52 (+$0.94, +0.05%) 
⬆️ Resistance:  1980 
⬇️ Support:  1800 
 
M+ Online Technical Trading Stocks - 17 Mar 23 
 
Stock Name: GUH (3247) 
Entry: Buy above RM0.485 
Target: RM0.515 (6.2%), RM0.525 (8.2%) 
Stop: RM0.46 (-5.2%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Stock Name: YXPM (0250) 
Entry: Buy above RM0.26 
Target: RM0.285 (9.6%), RM0.30 (15.4%) 
Stop: RM0.24 (-7.7%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Source: Bloomberg, M+ Online

Market update: Resurfaced fears over global banking crisis has once again sent the FBM KLCI below the key 1,400 mark, but we expect a broad-based rebound on the local bourse amid increased optimism on Wall Street over banking industry following a joint rescue on First Republic by several big US banks. Nevertheless, the rebound could be short-lived as investors are likely to trade in a cautious mode while keeping an eye on the US Fed’s interest rate decision next week. Commodities wise, the Brent crude oil traded above USD74, while the CPO price hovered above RM3,900. 
 
Sector focus: We reckon that the technology sector will gain momentum following a strong rebound on Wall Street overnight. Besides, the health care may shine as investors anticipate a higher ASP of glove which may cushion the rising cost. We continue to favour sectors such as consumer staples, REITs, and utilities.

Stocks to watch: 
Consumer: AHEALTH, CAB, CAMRES, KTC, LAYHONG, LHI, PADINI
Building material: FIHB, UNITRAD
Technology: CORAZA, EG, PIE, VSTECS
Others: BAUTO, HARBOUR, SAMAIDEN, SIMEPROP, YTLPOWR

Source: M+ Online

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