KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Tue, 13 Oct 2020, 5:16 PM


Daily Market Update - 14 Sept 2020

Author:   |    Publish date:

Dow Jones: 27,665.64 pts (+131.06pts, +0.48%)
⬆ Resistance:  28800
⬇ Support:  26900

FBM KLCI: 1,504.85 pts (+14.73pts, +0.99%)
⬆ Resistance:  1560
⬇ Support:  1450

HSI Index: 24,503.31 pts (+189.77pts, +0.78%)
⬆ Resistance:  25500
⬇ Support:  23800

Crude Palm Oil: RM2,811 (-RM3, -0.11%)
⬆ Resistance:  2950
⬇ Support:  2740

Brent Oil: $39.83 (-$0.23, -0.57%)
⬆ Resistance:  43.30
⬇ Support:  38.60

Gold: $1,940.55 (-$5.54, -0.28%)
⬆ Resistance:  2010
⬇ Support:  1870

M+ Online Technical Focus - 14Sep20
Healthcare sector: Signs of turning

Trading Catalyst
• Given that there are no signs of abating in the new numbers of Covid-19, we see demand for personal protective equipment (PPE) to remain sturdy overtime.
• According to Statista (German market data specialist), global PPE market is expected to balloon from US$52.0bn in 2019 to US$93.0bn in 2027.
• Concern over the new number of Covid-19 cases (more than 200,000 daily since 20th July 2020) ensures demand remain intact.
• The retracement in gloves-related stocks in recent weeks suggests that weakness is likely to be overdone, primed for recovery with valuations turning more compelling at current juncture.

Technical View

(i) COMFORT (S: RM3.06, R: RM4.35-4.72, LT TP:RM5.17, CL:RM3.05)
(ii) CAREPLS (S: RM2.25, R: RM3-3.3, LT TP:RM3.78, CL:RM2.24)

S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss

Source: Bloomberg, M+ Online



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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.

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Chart Stock Name Last Change Volume 
COMFORT 3.99 +0.14 (3.64%) 11,858,300 

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