M+ Online Morning Market Buzz - 27 Apr 23 
 
Dow Jones: 33,301.87 pts (-228.96pts, -0.68%) 
⬆️ Resistance:  34600 
⬇️ Support:  32900 
 
FBM KLCI: 1,414.25 pts (-10.94pts, -0.77%) 
⬆️ Resistance:  1470 
⬇️ Support:  1400 
 
HSI Index: 19,757.27 pts (+139.39pts, +0.71%) 
⬆️ Resistance:  20900 
⬇️ Support:  19300 
 
Crude Palm Oil: RM3,590 (+RM20, +0.56%) 
⬆️ Resistance:  3870 
⬇️ Support:  3480 
 
Brent Oil: $77.77 (-$3.00, -3.71%) 
⬆️ Resistance:  84.5 
⬇️ Support:  75.20 
 
Gold: $1,998.04 (-$8.35, -0.42%) 
⬆️ Resistance:  2050 
⬇️ Support:  1950 
 
M+ Online Technical Trading Stocks - 27 Apr 23 
 
Stock Name: SUNSURIA (3743) 
Entry: Buy above RM0.61 
Target: RM0.665 (9.0%), RM0.695 (13.9%) 
Stop: RM0.57 (-6.6%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Stock Name: EWEIN (7249) 
Entry: Buy above RM0.63 
Target: RM0.675 (7.1%), RM0.70 (11.1%) 
Stop: RM0.595 (-5.6%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI surrendered its gains in the previous session amid heavy selldown in selected banking and energy heavyweights; the former was affected by the renewed concerns over the US banking crisis. Similarly, on the global front, fears over the potential recession resurfaced, as investors await the US Fed interest rate decision next week. Hence, the cautious sentiment on the local front may persist at least for the near term. Commodities wise, the Brent crude oil price extended its downtrend move towards USD77, CPO price hovered above RM3,550, while the gold price stayed below USD2,000. 

Sector focus: Investors may see further selldown in energy counters along with declining crude oil prices amid worries over a potential contraction in the economic activities. We believe the traders may position themselves within the defensive sectors such as telecommunications and utilities amid the uncertain environment.

Stocks to watch:
Telecommunication & Media: SASBADI, TM, SEDANIA, OPCOM
Utilities: MALAKOF, RANHILL
Technology: GENETEC, PIE 
Gold-related: TOMEI, POHKONG, YXPM 
Others: BAUTO, SUNSURIA, TSH, NYLEX, EWEIN, RGTECH, YEWLEE

Source: M+ Online

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