M+ Online Morning Market Buzz - 12 Aug 22
Dow Jones: 33,336.67 pts (+27.16pts, +0.08%)
⬆️ Resistance: 34400
⬇️ Support: 31900
FBM KLCI: 1,505.56 pts (+13.23pts, +0.89%)
⬆️ Resistance: 1540
⬇️ Support: 1470
HSI Index: 20,082.43 pts (+471.59pts, +2.40%)
⬆️ Resistance: 20700
⬇️ Support: 19100
Crude Palm Oil: RM4,293 (+RM29, +0.68%)
⬆️ Resistance: 4360
⬇️ Support: 3730
Brent Oil: $99.60 (+$2.20, +2.26%)
⬆️ Resistance: 102.20
⬇️ Support: 91.00
Gold: $1,789.72 (-$2.66, -0.15%)
⬆️ Resistance: 1850
⬇️ Support: 1730
M+ Online Technical Trading Stocks - 12 Aug 22
Stock Name: THETA (9075)
Entry: Buy above RM0.92
Target: RM1.00 (8.7%), RM1.05 (14.1%)
Stop: RM0.85 (-7.6%)
Shariah: Yes
Technical: Monitor for breakout
Stock Name: BONIA (9288)
Entry: Buy above RM2.13
Target: RM2.33 (9.4%), RM2.49 (16.9%)
Stop: RM2.00 (-6.1%)
Shariah: Yes
Technical: Flag-formation breakout
Market update: The FBM KLCI climbed above the psychological 1,500 level amid positive regional market sentiment as investors cheered that the inflation is cooling off in the US for June. Whilst the market has stabilised along 1,500, we believe the profit taking activities may pick up with the mixed trading tone on Wall Street overnight, following a drop in PPI data. Hence, broader market may take a breather for the short term; especially the technology sector. Commodities wise, the Brent oil is trading higher towards the USD100 mark, while the CPO price headed above RM4,290.
Sector focus: The energy sector may see some positive move along with the higher Brent crude oil prices. Meanwhile, the technology sector might see mild profit-taking following yesterday’s strong surge. Ahead of the earnings season, traders may position within the consumer, banking, furniture and plantation sectors.
Stocks to watch:
Tech & Telco: CTOS, D&O, FRONTKN, GREATEC, GTRONIC, PENTA, THETA, UWC, YBS
Oil & Gas: DAYANG, DIALOG
Furniture: EVERGRN, SIGN
Finance: AFFIN, CIMB
Plantation: BPLANT, TSH
Power-related: TENAGA, YTLPOWR
Construction & Building material: AJIYA, ANNJOO, HSSEB, PMETAL
Others: ECOWLD, KYM
Source: M+ Online
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