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Steel sectors are heating up

we have positioned ourselves for building materials and construction related stocks. That gave us some potential trades today after we have put in
Get Wiz

Undeniably, the Bursa Exchange has been on a positive rally in November and until last week amid the ongoing window-dressing activities. However, the broader market was spooked by news on the upliftment of Regulated Short Selling ban by 1st Jan 2021. With that, investors were trimming down their position ahead of this upliftment, resulting in a negatively skewed market overall.  

Nevertheless, we believe there are selected stocks that are available for us to trade. After the tender news on the RM4bn Rasau water treatment plant surfaced last week, we have positioned ourselves for building materials and construction related stocks. That gave us some potential trades today after we have put in SSTEEL and ANNJOO into our list and let the M+ Wiz to trigger us the entry. 

ANNJOO – Triggered around RM1.20-1.25

Source: M+ Wiz

SSTEEL – Triggered at the start of the market open around RM0.72-0.745

Source: M+ Wiz

Do note that the example above is not a recommendation for buying and selling purposes, please take advice from your brokers before making any important decisions in the market. 

Some other entries that M+ Wiz have triggered us are FPI and D&O. Do follow our M+ Wiz highlights webinar every Monday at 1230pm. To stay up to date with us, like and follow us on facebook at M+ Online

M+ Wiz – A tool for systematic trigger.


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market pulse

Still within consolidation mode

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market pulse

Bank Negara’s OPR in focus

Bargain hunting activities emerged on the glove counters after more than one week of pullback, lifting the FBM KLCI and the healthcare sector higher. Market will be looking forward to the second Monetary Policy Committee meeting today to gauge market movements. However, economists anticipate an unchanged stance on the Overnight Policy Rate (OPR) amid expectation of an economic recovery. We believe the lower liners will continue to remain upbeat if the positive market sentiment persists. Meanwhile, the Brent oil price has seen a rebound.

market pulse

Streched valuations

Bucking the downturn across the regional markets, the FBM KLCI ended modestly higher as continued selling in glove heavyweights were offset by buying support in IHH and selected banking heavyweights. We believe the local bourse should trade in an upward bias tone following the change of MCO status for Selangor, Johor, Penang and KL. Meanwhile, the number of Covid-19 confirmed cases daily has dropped to year-to-date low. However, note that the negative sentiment on Wall Street overnight could cap the upside potential on the local front.

technical focus

Technical Focus – LHI

One of the largest fully integrated producers of poultry, eggs and livestock feed in Southeast Asia with strong presence in Malaysia, Indonesia, Vietnam and Singapore. Committed to expand the Malaysia, Philippines and Vietnam operations via additional capacities and infrastructures, whilst targets 160 Baker’s Cottage outlets by end-FY21 (from 103 outlets since end-FY20). Sequential earnings recovery is on the table, premised to the stabilising poultry prices in Malaysia as well as Indonesia in recent months. Technically, the flag-formation breakout above RM0.71 may lead price towards the immediate resistances at RM0.775-0.82, with long term target at RM0.885.