M+ Online Morning Market Buzz - 25 Aug 21
Dow Jones: 35,366.26 pts (+30.55pts, +0.09%)
⬆ Resistance: 36200
⬇ Support: 34000
FBM KLCI: 1,553.37 pts (+30.94pts, +2.03%)
⬆ Resistance: 1590
⬇ Support: 1490
HSI Index: 25,727.92 pts (+618.33pts, +2.46%)
⬆ Resistance: 26600
⬇ Support: 24100
Crude Palm Oil: RM4,303 (-RM13, -0.30%)
⬆ Resistance: 4460
⬇ Support: 4080
Brent Oil: $71.05 (+$2.30, +3.35%)
⬆ Resistance: 72.70
⬇ Support: 63.40
Gold: $1,802.90 (-$2.53, -0.14%)
⬆ Resistance: 1850
⬇ Support: 1740
M+ Online Technical Focus - 25 Aug 21
DPI Holdings Bhd: Local spray paint market leader
Trading Catalyst
• Market leader with over 25.0% of the local spray paint market in Malaysia which supplies more than 300 colours to over 700 of distributors, including own brand name such as DPI, Anchor and Kromoto as well as OEM products.
• Expansion of new plant targeting for completion in November 2021 will bump total installed capacity to 20.0m aerosol cans (from current 9.7m aerosol cans).
• Overall market demand for aerosol spray paint has been improving, owing to the stay-at-home measures as do-it-yourself activities gained traction.
• Technically, Price has experienced a consolidation breakout above RM0.42 level, targeting the next resistances at RM0.455-0.475 with long term target set at RM0.50.
Technical View
(i) DPIH (S: RM0.385, R: RM0.455-0.475, LT TP: RM0.50, CL: RM0.38)
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss
Source: Bloomberg, M+ Online
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