KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Wed, 16 Oct 2019, 5:23 PM


Daily Market Update - 2 Oct 2018 (CCM, WASEONG)

Author:   |    Publish date:

Dow Jones: 26,651.21 pts (+192.90pts, +0.73%)
U.S. stockmarkets edged higher as the Dow rose 0.7%, lifted by the new trade agreement that was signed between U.S., Canada and Mexico. The immediate resistance is located at 27,000.

FBM KLCI: 1,792.46 pts (-0.69pts, -0.04%)
The FBM KLCI (-0.04%) ended on a flattish note yesterday as trading interest were focused towards the lower liners. The immediate resistance is located at 1,800.

Crude Palm Oil: RM2,157 (-RM17, -0.78%)
Crude palm oil prices retreated, taking cue from the lower soybean oil prices. The immediate resistance is located around RM2,200.

WTI Crude Oil: $75.30 (+$2.05, +2.81%)
Crude oil prices advanced to its highest level since 2014, boosted by mounting concern over supply risk on U.S. sanction against Iran from 4th November 2018. The immediate resistance is located at US$80.

Gold: $1,188.99 (-$1.89, -0.16%)
Gold prices retreated as investors adopted a risk-on approach, following the trade agreement between U.S., Canada and Mexico. The immediate support will be pegged around US$1,150.

Economic Releases:
JP - Japan's Consumer Confidence, 1.00PM
EU - Eurozone's Producer Price Index, 5.00PM

Bursa Malaysia Trade Statistics - 1 Oct 18
Institutions:  Net SELL 6.9 mln (50.0%)
Retail:  Net SELL 12.8 mln (29.4%)
Foreign:  Net BUY 19.7 mln (20.6%)

Potential Momentum Stocks - 2 Oct 18 
Stock Name: CCM (2879)
Entry: Buy above RM2.08
Target: RM2.27 (9.1%), RM2.41 (15.9%)
Stop: RM1.96 (-5.8%)
Shariah: Yes
Technical: Consolidation breakout

Stock Name: WASEONG (5142)
Entry: Buy above RM1.08
Target: RM1.14 (5.6%), RM1.20 (11.1%)
Stop: RM1.03 (-4.6%)
Shariah: Yes
Technical: Monitor for breakout

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 
CCM 1.59 -0.04 (2.45%) 20,900 
WASEONG 0.945 +0.06 (6.78%) 6,618,300 

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