KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Mon, 24 Sep 2018, 08:16 AM


Daily Market Update - 20 Oct 2017 (BAUTO, GUNUNG)

Author:   |    Publish date:

Dow Jones: 23,163.04 pts (+5.44pts, +0.02%)
U.S. stockmarkets recovered all their intraday losses overnight as the Dow added 0.02% after investors shrugged off the weaker-than-expected economic data in Hong Kong and China and focus on the strength in corporate earnings instead. The immediate resistance is located at 23,500.

FBM KLCI: 1,743.99 pts (-5.00pts, -0.29%)
Tracking the weakness in major Asian benchmark indices, the FBM KLCI (-0.3) edged lower for the third straight session yesterday. The immediate support is located at 1,730.

Crude Palm Oil: RM2,723 (-RM18, -0.66%)
Crude palm oil prices extended its losses on speculation over softer demand. The immediate resistance is envisaged around RM2,800.

WTI Crude Oil: $51.29 (-$0.75, -1.44%)
Crude oil prices formed a bearish engulfing candle amid the build-up in U.S. inventories. The immediate resistance is located at US$55.

Gold: $1,290.13 (+$9.05, +0.71%)
Gold prices advanced on political uncertainty in Spain coupled with the soft economic data in Asia. The immediate support will be pegged around US$1,250.

Economic Releases:
MY - Malaysia's Inflation Rate, 12.00PM
US - United States' Existing Home Sales, 10.00PM

Bursa Malaysia Trade Statistics - 19 Oct 17
Institutions:  Net BUY 3.7 mln (50.6%)
Retail:  Net BUY 15.8 mln (20.7%)
Foreign:  Net SELL 19.5 mln (28.7%)

Potential Momentum Stocks - 20 Oct 17 
Stock Name: BAUTO (5248)
Entry: Buy above RM2.10
Target: RM2.15 (2.4%), RM2.20 (4.8%)
Stop: RM2.06 (-1.9%)
Shariah: Yes
Technical: Symmetrical triangle formation breakout

Stock Name: GUNUNG (7676)
Entry: Buy above RM0.425
Target: RM0.475 (11.8%), RM0.495 (16.5%)
Stop: RM0.395 (-7.1%)
Shariah: Yes
Technical: Bullish engulfing candle

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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Related Stocks

Chart Stock Name Last Change Volume 
BAUTO 2.06 +0.01 (0.49%) 700,200 
GUNUNG 0.32 -0.015 (4.48%) 92,000 

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