KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Mon, 10 Aug 2020, 9:03 AM


Daily Market Update - 12 Oct 2018 (DSONIC, KAB)

Author:   |    Publish date:

Dow Jones: 25,052.83 pts (-545.91pts, -2.13%)
The selling pressure in Wall Street remain unabated overnight as the Dow slipped 2.1% amid the concern over rising interest rates and slowdown in global economy growth. The immediate support is located at 24,500.

FBM KLCI: 1,708.49 pts (-26.69pts, -1.54%)
Tracking the weakness in Wall Street overnight, the FBM KLCI gapped down alongside with the negative market sentiment across its regional peers. The immediate support is located at 1,660.

Crude Palm Oil: RM2,171 (-RM22, -1.00%)
Crude palm oil extended its losses, taking cue from the lower soybean oil prices. The immediate support is located around RM2,140.

WTI Crude Oil: $70.97 (-$2.20, -3.02%)
Crude oil prices extended its losses as India and China will continue to purchase Iranian oil. The immediate support is located at US$70.

Gold: $1,224.09 (+$29.30, +2.45%)
Gold prices trended sharply higher to close at its highest level in two months as demands perks up from the global equities selloff. The immediate resistance is located around $1,250.

Economic Releases:
MY - Malaysia's Retail Sales, 12.00PM
EU - Eurozone's Industrial Production, 5.00PM

Bursa Malaysia Trade Statistics - 11 Oct 18
Institutions:  Net BUY 260.0 mln (55.2%)
Retail:  Net BUY 67.9 mln (23.1%)
Foreign:  Net SELL 327.9 mln (21.7%)

Potential Momentum Stocks - 12 Oct 18
Stock Name: DSONIC (5216)
Entry: Buy above RM0.66
Target: RM0.715 (8.3%), RM0.745 (12.9%)
Stop: RM0.62 (-6.1%)
Shariah: Yes
Technical: Bullish engulfing candle

Stock Name: KAB (0193)
Entry: Buy above RM0.27
Target: RM0.31 (14.8%), RM0.33 (22.2%)
Stop: RM0.25 (-7.4%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online



The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

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 
DSONIC 1.39 -0.04 (2.80%) 11,563,500 
KAB 1.02 0.00 (0.00%) 1,944,400 

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