M+ Online Morning Market Buzz - 14 Apr 23 
 
Dow Jones: 34,029.69 pts (+383.19pts, +1.14%) 
⬆️ Resistance:  34800 
⬇️ Support:  32700 
 
FBM KLCI: 1,434.22 pts (-0.52pts, -0.04%) 
⬆️ Resistance:  1470 
⬇️ Support:  1400 
 
HSI Index: 20,344.48 pts (+34.62pts, +0.17%) 
⬆️ Resistance:  21200 
⬇️ Support:  19500 
 
Crude Palm Oil: RM3,750 (+RM37, +1.00%) 
⬆️ Resistance:  4000 
⬇️ Support:  3600 
 
Brent Oil: $86.09 (-$1.24, -1.42%) 
⬆️ Resistance:  89.30 
⬇️ Support:  82.10 
 
Gold: $2,040.22 (+$25.29, +1.26%) 
⬆️ Resistance:  2090 
⬇️ Support:  1950 
 
M+ Online Technical Trading Stocks - 14 Apr 23 
 
Stock Name: OWG (5260) 
Entry: Buy above RM0.605 
Target: RM0.635 (5.0%), RM0.645 (6.6%) 
Stop: RM0.58 (-4.1%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Stock Name: VOLCANO (0232) 
Entry: Buy above RM0.92 
Target: RM0.975 (6.0%), RM1.02 (10.9%) 
Stop: RM0.87 (-5.4%) 
Shariah: Yes 
Technical: Resistance breakout 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI finished largely unchanged after recovering most of its intraday losses; foreign funds turned net buyers for the first time in the past 5 trading days. Tracking the bullish sentiment on Wall Street overnight, we reckon that bargain hunting activities may emerge at least for the session and we expect a broad base recovery to take shape. Commodities wise, the Brent crude oil experienced a mild retracement towards USD86, while the CPO hovered above RM3,700. Gold prices solidify above USD2,000 as investors could be flocking for safe-haven assets following the growing concerns of recessionary risk.
 
Sector focus: We continue to favour gold-related stocks as a proxy towards the on-going market volatility. The technology sector may continue to gain momentum, taking cue from the positive developments on Nasdaq overnight. On the flipside, the plantation sector may stay downbeat on the prospects of weak export demand.

Stocks to watch:  
Technology: 
O&G: CARIMIN, T7GLOBAL, YINSON
Tourism-related: AIRPORT, OWG
Automotive: BAUTO, MCEHLDG
Others: ECOWLD, FIHB, RCECAP, SLVEST, SMRT, VOLCANO, VSTECS, YENHER, YXPM

Source: M+ Online

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