KLSE Traders Update and Ideas

Daily Market Update - 29 Mar 2023

mplus313
Publish date: Wed, 29 Mar 2023, 08:38 AM
mplus313
0 3,236
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

 

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.

Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment