KLSE Traders Update and Ideas

Daily Market Update - 5 Mar 2018 (D&O, UZMA)

mplus313
Publish date: Mon, 05 Mar 2018, 08:27 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,538.06 pts (-70.92pts, -0.29%)
U.S. stockmarkets closed mixed last Friday as the Dow (-0.3%) extended its losses but the S&P 500 added 0.5%, lifted by gains in healthcare and technology shares. The immediate support is located at 24,000.

FBM KLCI: 1,856.07 pts (-4.79pts, -0.26%)
The FBM KLCI (-0.3%) retreated last Friday in tandem with the weakness across key regional indices. The immediate support is located at 1,850.

Crude Palm Oil: RM2,474 (-RM75, -2.94%)
Crude palm oil prices suffered its biggest decline since November 2017 after India raised its import tax to 44% (from 30%). The immediate support is envisaged around RM2,400.

WTI Crude Oil: $61.25 (-$0.65, -1.06%)
Crude oil prices extended its losses after trimming most of its intraday losses. The immediate support is located at US$60.

Gold: $1,322.75 (+$3.79, +0.29%)
Gold prices rebounded as demand for safe haven assets improved. The immediate support will be pegged around US$1,300.

Economic Releases:
CN - China's Caixin Services PMI, 9.45AM
CN - China's Caixin Composite PMI, 9.45AM
EU - Eurozone's Markit Composite PMI, 5.00PM
EU - Eurozone's Markit Services PMI, 5.00PM
EU - Eurozone's Retail Sales, 6.00PM
US - United States' Markit Services PMI, 10.45PM
US - United States' Markit Composite PMI, 10.45PM
US - United States' ISM Non-Manufacturing PMI, 11.00PM

Bursa Malaysia Trade Statistics - 2 Mar 18
Institutions:  Net SELL 21.6 mln (52.0%)
Retail:  Net BUY 46.9 mln (21.5%)
Foreign:  Net SELL 25.3 mln (26.5%)

Potential Momentum Stocks - 5 Mar 18 
Stock Name: D&O (7204)
Entry: Buy above RM0.665
Target: RM0.71 (6.8%), RM0.74 (11.3%)
Stop: RM0.63 (-5.3%)
Shariah: Yes
Technical: Symmetrical triangle formation breakout

Stock Name: UZMA (7250)
Entry: Buy above RM1.39
Target: RM1.57 (12.9%), RM1.67 (20.1%)
Stop: RM1.29 (-7.2%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Source: Bloomberg, M+ Online

 

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