KLSE Traders Update and Ideas

Daily Market Update - 29 Mar 2023

Publish date: Wed, 29 Mar 2023, 08:38 AM
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This blog provides market updates and trading ideas that I gather from around the web.

M+ Online Morning Market Buzz - 29 Mar 23

Dow Jones: 32,394.25 pts (-37.83pts, -0.12%)
⬆️ Resistance:  33500
⬇️ Support:  31200

FBM KLCI: 1,409.09 pts (+12.49pts, +0.89%)
⬆️ Resistance:  1450
⬇️ Support:  1370

HSI Index: 19,784.65 pts (+216.96pts, +1.11%)
⬆️ Resistance:  20600
⬇️ Support:  19100

Crude Palm Oil: RM3,705 (+RM18, +0.49%)
⬆️ Resistance:  3890
⬇️ Support:  3430

Brent Oil: $78.65 (+$0.53, +0.68%)
⬆️ Resistance:  80.80
⬇️ Support:  71.30

Gold: $1,973.54 (+$16.87, +0.86%)
⬆️ Resistance:  2050
⬇️ Support:  1900

M+ Online Technical Focus - 29 Mar 23
YBS International Bhd: Manufacturing expansion to chart new growth

Trading Catalyst
• Specialises in high-precision tools, metal, plastic components and sub-component assembly for various industries.
• Embarking on expansion of their manufacturing plant which may double their annual revenue to RM200.0m, upon completion in FY24.
• Aims to further diversify its product mix, produce higher value-added items for better returns and continuously explore and expand into new market segments.
• Technically, price has formed a breakout above RM0.68, targeting the next resistances at RM0.735-0.78 with long term target set at RM0.85.

Technical View

(i) YBS (S: RM0.64, R: RM0.735-0.78, LT TP: RM0.85, CL: RM0.635)

S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss

Source: Bloomberg, M+ Online



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