KLSE Traders Update and Ideas

Daily Market Update - 21 Mar 2018 (AEON, WONG)

mplus313
Publish date: Wed, 21 Mar 2018, 08:34 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,727.27 pts (+116.36pts, +0.47%)
Wall Street rebounded from their previous session selloff as the Dow added 0.5% after energy stocks advanced due to the higher crude oil prices. The immediate resistance is located at 25,500.

FBM KLCI: 1,856.39 pts (+8.45pts, +0.46%)
The final hour buying support in selected index heavyweights sent the FBM KLCI (+0.5%) to trend higher third straight session yesterday. The immediate resistance is located at 1,860.

Crude Palm Oil: RM2,435 (+RM10, +0.41%)
Crude palm oil prices extended its gains, supported by stronger-than-expected exports data. The immediate resistance is envisaged around RM2,500.

WTI Crude Oil: $63.54 (+$1.48, +2.39%)
Crude oil prices rallied on tension in Middle East coupled with the expectation over lower output from Venezuela. The immediate resistance is located at US$67.

Gold: $1,311.31 (-$5.54, -0.42%)
Gold prices retreated after the U.S. Dollar advanced against a basket of currencies. The immediate support will be pegged around US$1,300.

Economic Releases:
UK - United Kingdom's Unemployment Rate, 5.30PM
US - United States' Existing Home Sales, 10.00PM

Bursa Malaysia Trade Statistics - 20 Mar 18
Institutions:  Net SELL 89.8 mln (49.6%)
Retail:  Net BUY 5.0 mln (19.7%)
Foreign:  Net BUY 84.8 mln (30.7%)

Potential Momentum Stocks - 21 Mar 18 
Stock Name: AEON (6599)
Entry: Buy above RM1.84
Target: RM1.95 (6.0%), RM2.08 (13.0%)
Stop: RM1.75 (-4.9%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: WONG (7050)
Entry: Buy above RM1.11
Target: RM1.24 (11.7%), RM1.30 (17.1%)
Stop: RM1.05 (-5.4%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Source: Bloomberg, M+ Online

 

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