KLSE Traders Update and Ideas

Daily Market Update - 4 Oct 2017 (WANGZNG, CCK)

mplus313
Publish date: Wed, 04 Oct 2017, 08:53 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 22,641.67 pts (+84.07pts, +0.37%)
U.S. stockmarkets extended their gains overnight as the Dow rose 0.4%, lifted by the gains in automakers amid the upbeat vehicle sales data. The immediate resistance is located at 22,800.

FBM KLCI: 1,759.67 pts (+4.89pts, +0.28%)
The FBM KLCI (+0.3%) staged a recovery yesterday in tandem with the gains across global stockmarkets. The immediate support is located at 1,750.

Crude Palm Oil: RM2,683 (+RM17, +0.64%)
Crude palm oil prices rebounded amid the weaker Ringgit against the Greenback coupled with anticipation over higher export. The immediate support is envisaged around RM2,600.

WTI Crude Oil: $50.42 (-$0.16, -0.31%)
Crude oil prices extended its losses due to the build-up in gasoline inventories. The immediate resistance is located at US$52.

Gold: $1,271.66 (+$0.53, +0.04%)
Gold prices rebounded but gains were limited amid the strong U.S. Dollar against a basket of currencies. The immediate support will be pegged around US$1,250.

Economic Releases:
EU - Eurozone's Markit Composite PMI, 4.00PM
EU - Eurozone's Markit Services PMI, 4.00PM
EU - Eurozone's Retail Sales, 5.00PM
US - United States' ISM Non-Manufacturing PMI, 10.00PM

Bursa Malaysia Trade Statistics - 3 Oct 17
Institutions:  Net SELL 60.0 mln (57.9%)
Retail:  Net SELL 22.2 mln (18.8%)
Foreign:  Net BUY 82.2 mln (23.3%)

Potential Momentum Stocks - 4 Oct 17 
Stock Name: WANGZNG (7203)
Entry: Buy above RM1.48
Target: RM1.70 (14.9%), RM1.80 (21.6%)
Stop: RM1.38 (-6.8%)
Shariah: Yes
Technical: Consolidation breakout

Stock Name: CCK (7035)
Entry: Buy above RM0.99
Target: RM1.08 (9.1%), RM1.14 (15.2%)
Stop: RM0.93 (-6.1%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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