M+ Online Morning Market Buzz - 13 Apr 23 
 
Dow Jones: 33,646.50 pts (-38.29pts, -0.11%) 
⬆️ Resistance:  34600 
⬇️ Support:  32700 
 
FBM KLCI: 1,434.74 pts (-1.15pts, -0.08%) 
⬆️ Resistance:  1470 
⬇️ Support:  1390 
 
HSI Index: 20,309.86 pts (-175.38pts, -0.86%) 
⬆️ Resistance:  21200 
⬇️ Support:  19700 
 
Crude Palm Oil: RM3,703 (-RM72, -1.91%) 
⬆️ Resistance:  4000 
⬇️ Support:  3670 
 
Brent Oil: $87.33 (+$1.72, +2.01%) 
⬆️ Resistance:  89.30 
⬇️ Support:  82.10 
 
Gold: $2,014.93 (+$11.31, +0.56%) 
⬆️ Resistance:  2070 
⬇️ Support:  1950 
 
M+ Online Technical Trading Stocks - 13 Apr 23 
 
Stock Name: PANTECH (5125) 
Entry: Buy above RM0.80 
Target: RM0.845 (5.6%), RM0.90 (12.5%) 
Stop: RM0.78 (-2.5%) 
Shariah: Yes 
Technical: Flag-formation breakout 
 
Stock Name: MUHIBAH (5703) 
Entry: Buy above RM0.800 
Target: RM0.85 (6.3%), RM0.90 (12.5%) 
Stop: RM0.75 (-6.3%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI halted 3 straight sessions of winning run as sentiment turned cautious prior to the release of the US CPI data. Despite the slower-than-expected US inflation at +5.0% YoY (vs. consensus expectations of 5.2% YoY rise), we reckon that cautious sentiment may persist given the US FOMC meeting minutes were suggesting rising recession risks in the US economy. We believe further profit taking activities may emerge in the regional markets and our local bourse. Commodities wise, the Brent crude oil price rallied towards USD87, while the CPO eased towards near RM3,700. Gold price continues to trade above USD2,000
 
Sector focus: Gold-related stocks and the energy sector may stay focused amid firmer gold prices and higher oil prices, respectively. However, the technology sector may pullback with the weakness on Nasdaq overnight. Meanwhile, the construction sector may gain ground from the easing of foreign labour shortage.

Stocks to watch:  
Technology: 
O&G: ARMADA, CARIMIN, MHB, PANTECH, YINSON
Transportation & Logistics: CAPITALA, FM
Consumer: FIHB, PWF
Others: AHEALTH, PPJACK, POHKONG, RANHILL, SUNVIEW

Source: M+ Online

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