M+ Online Morning Market Buzz - 11 Apr 23 
 
Dow Jones: 33,586.52 pts (+101.23pts, +0.30%) 
⬆️ Resistance:  34400 
⬇️ Support:  32700 
 
FBM KLCI: 1,428.13 pts (+1.09pts, +0.08%) 
⬆️ Resistance:  1470 
⬇️ Support:  1390 
 
HSI Index: 20,331.20 pts (+56.61pts, +0.28%) 
⬆️ Resistance:  20800 
⬇️ Support:  19700 
 
Crude Palm Oil: RM3,850 (+RM13, +0.34%) 
⬆️ Resistance:  4060 
⬇️ Support:  3670 
 
Brent Oil: $84.18 (-$0.94, -1.10%) 
⬆️ Resistance:  87.80 
⬇️ Support:  82.20 
 
Gold: $1,991.48 (-$16.43, -0.82%) 
⬆️ Resistance:  2080 
⬇️ Support:  1940 
 

M+ Online Technical Trading Stocks - 11 Apr 23

Stock Name: TSH (9059)
Entry: Buy above RM1.05
Target: RM1.10 (4.8%), RM1.13 (7.6%)
Stop: RM1.00 (-4.8%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: AJIYA (7609)
Entry: Buy above RM1.68
Target: RM1.80 (7.1%), RM1.88 (11.9%)
Stop: RM1.62 (-3.6%)
Shariah: Yes
Technical: Resistance breakout

Source: Bloomberg, M+ Online

Market update: The FBM KLCI inched up on the back of final-hour bargain hunting activities. On Wall Street, sentiment was mixed as investors traded cautiously ahead of the upcoming CPI data (which will be released on Wednesday), as well as a series of banks’ earnings reports to kick start the earnings season. Meanwhile, we expect the bargain hunting activities may continue with the anticipation for further recovery in the labour market following an improvement in the unemployment rate which fell to 3.5% in February. Commodities wise, the Brent crude oil declined but remained resilient above USD84, while the CPO traded around RM3,850. Gold price fell below the USD2,000 psychological level.  
  
Sector focus: Given the oil price remained solid, investors may favour the oil & gas counters. Besides, investors may see further bargain hunting activities in defensive sectors such as telecommunications, banking, and consumer stapled. Meanwhile, the health care sector has been gaining momentum. 
 
Stocks to watch:   
Technology: AIMFLEX, EG, INFOTEC 
Building material: DANCO, MCEMENT 
O&G: ARMADA, CARIMIN, UZMA 
Medical-related: HARTA, KPJ, TOPGLOV 
Others: AMTEL, MCEHLDG, PWF 
 
Source: M+ Online

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