KLSE Traders Update and Ideas

Daily Market Update - 15 Mar 2018 (IWCITY, MJPERAK)

mplus313
Publish date: Thu, 15 Mar 2018, 08:36 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,758.12 pts (-248.91pts, -1.00%)
U.S. stockmarkets trended lower for the third straight session overnight as the Dow closed below the 25,000 psychological level. The immediate resistance is located at 25,500.

FBM KLCI: 1,857.06 pts (-6.97pts, -0.37%)
The FBM KLCI (-0.4%) formed a bearish candle yesterday, mainly dragged down by Nestle that sank RM16.40 as investors booked recent gains. The immediate resistance is located at 1,880.

Crude Palm Oil: RM2,440 (+RM27, +1.12%)
Crude palm oil prices advanced on expectation over improved demand. The immediate support is envisaged around RM2,350.

WTI Crude Oil: $60.96 (+$0.25, +0.41%)
Crude oil prices edged marginally higher on expectation over improved demand that offset the concern over rising U.S. supply. The immediate resistance is located at US$63.

Gold: $1,324.85 (-$1.66, -0.13%)
Gold prices edged lower as it continues to trade in a rangebound manner. The immediate support will be pegged around US$1,300.

Economic Releases:
MY - Malaysia's Retail Sales, 12.00PM

Bursa Malaysia Trade Statistics - 14 Mar 18
Institutions:  Net BUY 33.7 mln (56.0%)
Retail:  Net SELL 22.2 mln (23.6%)
Foreign:  Net SELL 11.5 mln (20.4%)

Potential Momentum Stocks - 15 Mar 18 
Stock Name: IWCITY (1589)
Entry: Buy above RM1.42
Target: RM1.52 (7.0%), RM1.59 (12.0%)
Stop: RM1.36 (-4.2%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: MJPERAK (8141)
Entry: Buy above RM0.325
Target: RM0.355 (9.2%), RM0.375 (15.4%)
Stop: RM0.30 (-7.7%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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