KLSE Traders Update and Ideas

Daily Market Update - 10 Oct 2017 (ESAFE, CRESBLD)

mplus313
Publish date: Tue, 10 Oct 2017, 08:43 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 22,761.07 pts (-12.60pts, -0.06%)
U.S. stockmarkets extended its losses overnight as the Dow fell 0.1%, dragged down by the weakness in healthcare-related stocks. The immediate resistance is located at 22,800.

FBM KLCI: 1,764.03 pts (+0.03pts, +0.00%)
The FBM KLCI (+0.03%) ended on a flattish note yesterday after being traded in a lacklustre manner. The immediate support is located at 1,750.

Crude Palm Oil: RM2,735 (+RM5, +0.18%)
Crude palm oil prices advanced for the third straight session in anticipation over the weaker-than-expected production. The immediate resistance is envisaged around RM2,800.

WTI Crude Oil: $49.58 (+$0.29, +0.59%)
Crude oil prices rebounded on expectation over decline in U.S. crude inventory level. The immediate resistance is located at US$52.

Gold: $1,284.05 (+$7.37, +0.58%)
Gold prices extended its gains after the U.S. Dollar ended lower against a basket of currencies. The immediate support will be pegged around US$1,250.

Bursa Malaysia Trade Statistics - 9 Oct 17
Institutions:  Net SELL 10.6 mln (61.5%)
Retail:  Net SELL 16.0 mln (25.3%)
Foreign:  Net BUY 26.6 mln (13.2%)

Potential Momentum Stocks - 10 Oct 17 
Stock Name: ESAFE (0190)
Entry: Buy above RM0.40
Target: RM0.42 (5.0%), RM0.44 (10.0%)
Stop: RM0.385 (-3.8%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: CRESBLD (8591)
Entry: Buy above RM1.04
Target: RM1.14 (9.6%), RM1.20 (15.4%)
Stop: RM1.01 (-2.9%)
Shariah: Yes
Technical: Bullish engulfing candle

Source: Bloomberg, M+ Online

 

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