KLSE Traders Update and Ideas

Daily Market Update - 6 Mar 2018 (LIIHEN, ELSOFT)

mplus313
Publish date: Tue, 06 Mar 2018, 08:17 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,874.76 pts (+336.70pts, +1.37%)
U.S. stockmarkets recovered from their intraday losses as investors anticipate a less severe impact of import tariff on steel and aluminium. The immediate support is located at 24,000.

FBM KLCI: 1,842.62 pts (-13.45pts, -0.72%)
The FBM KLCI (-0.7%) extended its losses in line with the weakness across key regional indices yesterday. The immediate support is located at 1,850.

Crude Palm Oil: RM2,463 (-RM11, -0.44%)
Crude palm oil prices trended lower after trimming most of its intraday losses as India looks to cut down the country's CPO import. The immediate support is envisaged around RM2,400.

WTI Crude Oil: $62.57 (+$1.32, +2.16%)
Crude oil prices rallied after a surprise inventory decline at storage hub Cushing, Okla. The immediate resistance is located at US$63.

Gold: $1,320.11 (-$2.64, -0.20%)
Gold prices retreated after the U.S. Dollar appreciated against a basket of currencies. The immediate support will be pegged around US$1,300.

Economic Releases:
EU - Eurozone's Retail PMI, 5.10PM

Bursa Malaysia Trade Statistics - 5 Mar 18
Institutions:  Net BUY 73.5 mln (51.4%)
Retail:  Net BUY 78.2 mln (25.2%)
Foreign:  Net SELL 151.7 mln (23.4%)

Potential Momentum Stocks - 6 Mar 18 
Stock Name: LIIHEN (7089)
Entry: Buy above RM3.18
Target: RM3.29 (3.5%), RM3.42 (7.5%)
Stop: RM3.11 (-2.2%)
Shariah: Yes
Technical: Consolidation breakout

Stock Name: ELSOFT (0090)
Entry: Buy above RM2.55
Target: RM2.64 (3.5%), RM2.78 (9.0%)
Stop: RM2.48 (-2.7%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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