M+ Online Morning Market Buzz - 5 Apr 23 
 
Dow Jones: 33,402.38 pts (-198.77pts, -0.59%) 
⬆️ Resistance:  34400 
⬇️ Support:  31900 
 
FBM KLCI: 1,429.61 pts (-3.78pts, -0.26%) 
⬆️ Resistance:  1470 
⬇️ Support:  1380 
 
HSI Index: 20,274.59 pts (-134.59pts, -0.66%) 
⬆️ Resistance:  21200 
⬇️ Support:  19700 
 
Crude Palm Oil: RM3,918 (-RM48, -1.21%) 
⬆️ Resistance:  4060 
⬇️ Support:  3580 
 
Brent Oil: $84.94 (+$0.01, +0.01%) 
⬆️ Resistance:  88.20 
⬇️ Support:  76.40 
 
Gold: $2,020.42 (+$35.77, +1.80%) 
⬆️ Resistance:  2070 
⬇️ Support:  1920 
 
M+ Online Technical Focus - 5 Apr 23 
EG Industries Bhd: Tapping into 5G and smart manufacturing 
 
Trading Catalyst 
• More than 20 years of operational history in the manufacturing of Electronic Manufacturing Services (EMS), backed by more than 3,000 employees. 
• Expanding manufacturing capacity which includes a Smart 'Lights-Out' Factory 4.0 in Batu Kawan which provides opportunity to tap into 5G components. 
• Extending presence further to build smart warehouses and an international procurement centre (IPC) at Kedah. 
• Technically, traders may anticipate for a potential breakout above RM1.32 to target the next resistances at RM1.40-1.46 with long term target at RM1.60. 
 
Technical View 
 
(i) EG (S: RM1.16, R: RM1.40-1.46, LT TP: RM1.60, CL: RM1.15) 
 
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI slipped into the negative territory as investors pocketed profit from the recent uptrend. Meanwhile, the global stock markets may remain shaky as investors turned cautious while assessing the impact of the resilient crude oil price. Meanwhile, the latest job openings report in the US that suggested the labour market is slowing becomes another source of uncertainties. Commodities wise, the Brent crude oil traded above USD84, while the CPO traded above RM3,900. Gold price shifted above the psychological USD2,000 level. 
 
Sector focus: Gold related companies should be one of the outperforming stocks in view of the bullish trend of gold price. Meanwhile, as the global sentiment turns cautious, investors may shift their focus from growth sectors such as technology towards safety haven such as REITs, banking, and consumer stapled. We believe poultry stocks will be on the watchout as investors may speculate on the price ceiling removal in this quarter.

Stocks to watch:  
Technology: EG, KRONO, PIE
O&G: ARMADA, COASTAL, PANTECH, T7GLOBAL
Property: ECOWLD, EWEIN, EWINT
Consumer: CAB, FIHB, PELIKAN, PWF
Others: MCEHLDG, MCEMENT, MUHIBAH, RCECAP, TOMEI

Source: M+ Online

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