M+ Online Morning Market Buzz - 21 Mar 23 
 
Dow Jones: 32,244.58 pts (+382.60pts, +1.20%) 
⬆️ Resistance:  33000 
⬇️ Support:  30900 
 
FBM KLCI: 1,401.81 pts (-9.92pts, -0.70%) 
⬆️ Resistance:  1450 
⬇️ Support:  1370 
 
HSI Index: 19,000.71 pts (-517.88pts, -2.65%) 
⬆️ Resistance:  20200 
⬇️ Support:  18500 
 
Crude Palm Oil: RM3,850 (+RM65, +1.72%) 
⬆️ Resistance:  4150 
⬇️ Support:  3700 
 
Brent Oil: $73.79 (+$0.82, +1.12%) 
⬆️ Resistance:  82.60 
⬇️ Support:  68.80 
 
Gold: $1,978.84 (-$10.41, -0.52%) 
⬆️ Resistance:  2050 
⬇️ Support:  1850 
 
M+ Online Technical Trading Stocks - 21 Mar 23 
 
Stock Name: EWEIN (7249) 
Entry: Buy above RM0.575 
Target: RM0.61 (6.1%), RM0.65 (13.0%) 
Stop: RM0.54 (-6.1%) 
Shariah: Yes 
Technical: Resistance breakout 
 
Stock Name: TOYOVEN (7173) 
Entry: Buy above RM1.47 
Target: RM1.66 (12.9%), RM1.70 (15.6%) 
Stop: RM1.32 (-10.2%) 
Shariah: Yes 
Technical: Breakout-pullback-continuation 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI witnessed an intense selloff along with the regional peers as investors remained cautious over the banking turmoil in the US and Switzerland. However, we saw the sentiment improved on Wall Street following the rescue deal for Credit Suisse, while investors may shift their focus to the US Fed’s interest rate decision tomorrow (US time). We believe the local bourse will remain sideways until more clues are given after the conclusion of the FOMC meeting. Commodities wise, the Brent crude oil is hovering above USD73, while the CPO rebounded above RM3,800. Meanwhile, gold prices remained firm above USD1,950.  
  
Sector focus: Given the rebound on Wall Street, we believe the technology sector may see a mild rebound following Nasdaq’s gains. Also, we expect investors to look for defensive stocks within the gold, consumer staples, and telecommunications sectors amidst the uncertain global environment. 
 
Stocks to watch:  
Technology: INFOM, PENTA, PIE, PRIVA, UNISEM, VSTECS 
Consumer: CAB, FOCUSP, SASBADI 
Property: EWEIN, HUAYANG, TANCO 
Telco-related: AXIATA, OCK 
Others: DPHARMA, TOYOVEN 
 
Source: M+ Online
 

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