KLSE Traders Update and Ideas

Daily Market Update - 2 Mar 2018 (EATECH, DUFU)

mplus313
Publish date: Fri, 02 Mar 2018, 08:33 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,608.98 pts (-420.22pts, -1.68%)
Wall Street trended lower for the third straight session as the Dow slipped 1.7% overnight after U.S. President Donald Trump tariff announcement on steel and aluminium imports. The immediate support is located at 24,000.

FBM KLCI: 1,860.86 pts (+4.66pts, +0.25%)
The FBM KLCI (+0.3%) managed to buck the mostly negative performance across regional indices after the key index recouped all its intraday losses yesterday. The immediate support is located at 1,850.

Crude Palm Oil: RM2,549 (-RM10, -0.39%)
Crude palm oil prices retreated, halting a four-day winning streak on concern over potential rising production in March 2018. The immediate resistance is envisaged around RM2,550.

WTI Crude Oil: $60.99 (-$0.65, -1.06%)
Crude oil prices ended lower on fears over rising U.S. output. The immediate support is located at US$60.

Gold: $1,317.03 (-$1.28, -0.10%)
Gold prices closed lower on the stronger U.S. Dollar against a basket of currencies. The immediate support will be pegged around US$1,300.

Economic Releases:
JP - Japan's Unemployment Rate, 7.30AM
EU - Eurozone's Producer Price Index, 6.00PM
US - United States' Unemployment Rate, 9.30PM

Bursa Malaysia Trade Statistics - 1 Mar 18
Institutions:  Net BUY 30.8 mln (51.1%)
Retail:  Net SELL 6.6 mln (24.0%)
Foreign:  Net SELL 24.2 mln (24.9%)

Potential Momentum Stocks - 2 Mar 18 
Stock Name: EATECH (5259)
Entry: Buy above RM0.385
Target: RM0.42 (9.1%), RM0.45 (16.9%)
Stop: RM0.35 (-9.1%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: DUFU (7233)
Entry: Buy above RM1.19
Target: RM1.31 (10.1%), RM1.39 (16.8%)
Stop: RM1.08 (-9.2%)
Shariah: Yes
Technical: Symmetrical triangle formation breakout

Source: Bloomberg, M+ Online

 

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