KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Wed, 26 Feb 2020, 8:45 AM


Daily Market Update - 31 Jul 2018 (AAX, PUNCAK)

Author:   |    Publish date:

Dow Jones: 25,306.83 pts (-144.23pts, -0.57%)
U.S. stockmarkets started off the week on a soft footing as the Dow fell 0.6%, dragged down by the continuous selloff in technology shares. The immediate resistance is located at 25,800.

FBM KLCI: 1,770.26 pts (+1.12pts, +0.06%)
The FBM KLCI (+0.1%) recorded its sixth straight session of gains, lifted by the eleventh hour buying support in selected index heavyweights yesterday. The immediate resistance is located at 1,780.

Crude Palm Oil: RM2,192 (+RM6, +0.27%)
Crude palm oil prices staged a mild recovery, taking cue from the higher soybean oil prices. The immediate support is located around RM2,100.

WTI Crude Oil: $70.13 (+$1.44, +2.09%)
Crude oil prices recovered all its previous session losses on signs of tightening global supply. The immediate resistance is located at US$75.

Gold: $1,221.45 (-$2.77, -0.23%)
Gold prices retreated on expectation that the U.S. Federal Reserve could raise interest rate in their next monetary policy meeting. The immediate support will be pegged around US$1,220.

Economic Releases:
JP - Japan's Unemployment Rate, 7.30AM
JP - Japan's Bank of Japan Interest Rate Decision, 11.00AM
EU - Eurozone's Unemployment Rate, 5.00PM

Bursa Malaysia Trade Statistics - 30 Jul 18
Institutions:  Net BUY 38.1 mln (54.5%)
Retail:  Net BUY 1.1 mln (22.8%)
Foreign:  Net SELL 39.2 mln (22.7%)

Potential Momentum Stocks - 31 Jul 18 
Stock Name: AAX (5238)
Entry: Buy above RM0.365
Target: RM0.385 (5.5%), RM0.40 (9.6%)
Stop: RM0.355 (-2.7%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: PUNCAK (6807)
Entry: Buy above RM0.56
Target: RM0.59 (5.4%), RM0.62 (10.7%)
Stop: RM0.545 (-2.7%)
Shariah: Yes
Technical: Breakout-pullback-continuation

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 
AAX 0.105 -0.005 (4.55%) 2,124,300 
PUNCAK 0.26 0.00 (0.00%) 51,800 

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