M+ Online Morning Market Buzz - 11 Apr 22
Dow Jones: 34,721.12 pts (+137.55pts, +0.40%)
⬆ Resistance: 35900
⬇ Support: 33600
FBM KLCI: 1,607.29 pts (+6.50pts, +0.41%)
⬆ Resistance: 1650
⬇ Support: 1570
HSI Index: 21,872.01 pts (+63.03pts, +0.29%)
⬆ Resistance: 23000
⬇ Support: 21200
Crude Palm Oil: RM5,921 (+RM94, +1.61%)
⬆ Resistance: 6140
⬇ Support: 5420
Brent Oil: $102.78 (+$2.20, +2.19%)
⬆ Resistance: 112.10
⬇ Support: 96.50
Gold: $1,947.54 (+$15.68, +0.81%)
⬆ Resistance: 1990
⬇ Support: 1880
M+ Online Technical Focus - 11 Apr 22
Tune Protect Group Bhd: Travel insurance demand on the rise
Trading Catalyst
• Offers a wide range of tailored non-life insurance coverage products to cater for individual, SMEs and corporate requirements and currently underwrites 50 markets including Malaysia and its regional countries.
• Anticipate stronger the travel insurance take-up rate as countries across the globe gradually reopening their borders.
• Enormous opportunity to tap into the travel insurance business from AirAsia that contributes less than 6.0% to total revenue in FY21.
• Technically, price has formed a short-term flag formation breakout above RM0.43, targeting the next resistances at RM0.475-0.49 with long term target at RM0.53.
Technical View
(i) TUNEPRO (S: RM0.41, R: RM0.475-0.49, LT TP: RM0.53, CL: RM0.405)
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss
Economic Releases For The Week (11/3/2022-15/4/2022):
11/4/2022
CN - China's Inflation Rate, 9.30AM
CN - China's Producer Price Index, 9.30AM
MY - Malaysia's Industrial Production, 12.00PM
MY - Malaysia's Retail Sales, 12.00PM
UK - United Kingdom's Industrial Production, 2.00PM
UK - United Kingdom's Manufacturing Production, 2.00PM
12/4/2022
JP - Japan's Producer Price Index, 7.50AM
UK - United Kingdom's Unemployment Rate, 2.00PM
EU - Eurozone's ZEW Economic Sentiment, 5.00PM
US - United States' Inflation Rate, 8.30PM
13/4/2022
JP - Japan's Machinery Orders, 7.50AM
UK - United Kingdom's Inflation Rate, 2.00PM
US - United States' Producer Price Index, 8.30PM
14/4/2022
EU - Eurozone's European Central Bank Interest Rate Decision, 7.45PM
US - United States' Retail Sales, 8.30PM
15/4/2022
CN - China's Unemployment Rate, 10.00AM
US - United States' Industrial Production, 9.15PM
US - United States' Manufacturing Production, 9.15PM
Source: Bloomberg, M+ Online
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