M+ Online Morning Market Buzz - 28 Aug 23

Dow Jones: 34,346.90 pts (+247.48pts, +0.73%)
⬆ Resistance:  35400
⬇ Support:  33400

FBM KLCI: 1,444.41 pts (-0.26pts, -0.02%)
⬆ Resistance:  1490
⬇ Support:  1410

HSI Index: 17,956.38 pts (-255.79pts, -1.40%)
⬆ Resistance:  18700
⬇ Support:  17300

Crude Palm Oil: RM3,962 (+RM81, +2.09%)
⬆ Resistance:  4060
⬇ Support:  3730

Brent Oil: $84.48 (+$1.12, +1.34%)
⬆ Resistance:  87.60
⬇ Support:  80.40

Gold: $1,914.96 (+$1.43, +0.07%)
⬆ Resistance:  1970
⬇ Support:  1850

M+ Online Technical Trading Stocks - 28 Aug 23

Stock Name: LBS (5789)
Entry: Buy above RM0.535
Target: RM0.580 (8.4%), RM0.600 (12.1%)
Stop: RM0.520 (-2.8%)
Shariah: Yes
Technical: Flag-formation breakout

Stock Name: SUNCON (5263)
Entry: Buy above RM1.820
Target: RM1.920 (5.5%), RM2.000 (9.9%)
Stop: RM1.780 (-2.2%)
Shariah: Yes
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

y be limited.  Commodities wise, the Brent crude oil rose above USD84/bbl, while the CPO prices remained above RM3,800/MT.

Sector focus: Overall sentiment should be positive with the trading focus revolving around the properties and construction sector amid the announcement of a special financial zone to be seen in Forest City. It may translate to trading interest within the building material as well. Besides, we like the energy sector with the promising results since last week.

Stocks to watch:
Construction: ECONBHD, SUNCON
Property: ECOWLD, KPPROP, LBS, MAHSING
Technology: EG, GTRONIC, UNISEM
Energy & Power: PERDANA, SLVEST
Financial related: PPJACK, RCECAP

Source: M+ Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.