KLSE Traders Update and Ideas

Daily Market Update - 6 Oct 2015

mplus313
Publish date: Tue, 06 Oct 2015, 11:27 AM
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This blog provides market updates and trading ideas that I gather from around the web.

M+Online Morning Buzz: Dow+304.06 pts (+1.85%) @ 16,776.43 pts. The U.S. stockmarkets extended its gains as investors perceived that the weaker-than-expected jobs data might signal an unchanged interest rate for the remainder of 2015. On the broader market, the S&P 500 added 1.8% to mark its longest rally in a year, while the Nasdaq gained 1.6%.
 
The FBM KLCI rose sharply higher yesterday, owing to the strong buying interest in banking and telco heavyweights. The MACD Histogram has extended another green bar, while the RSI continues to hover above the 50 level. The immediate resistance will be envisaged around the 1,650-1,660 levels. Support is pegged around the 1,560-1,600 levels.

Sector Focus: Consumer Products, Construction

Consumer Products: CAB, KAWAN, HUPSENG, HOMERIZ
Construction: GADANG, HOHUP

Others: ENGTEX, CCB, CANONE

Potential Momentum Stocks:

HUPSENG (5024): Price staged a breakout above the RM1.25 level. TP: RM1.34-RM1.40. SL: RM1.18.

HOHUP (5169): Price experienced a breakout above the RM1.39 level. TP: RM1.03-RM1.08. SL: RM0.91.

HOMERIZ (5160): Monitor for a trendline breakout above the RM1.02 level. TP: RM1.11-RM1.20. SL: RM0.98.

Source: M+Online

 

 

 

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