KLSE Traders Update and Ideas

Daily Market Update - 2 Apr 2018 (GBGARQS, MRCB)

mplus313
Publish date: Mon, 02 Apr 2018, 08:26 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,103.11 pts (+254.69pts, +1.07%)
U.S. equities were closed on last Friday for the Good Friday public holiday. Wall Street experienced its first quarterly loss since 3Q2015. The immediate support is located at 23,000.

FBM KLCI: 1,863.46 pts (+7.11pts, +0.38%)
The FBM KLCI (+0.4%) advanced on window dressing activities in selected index heavyweights as the key index rose 3.7% in 1Q2018. The immediate resistance is located at 1,880.

Crude Palm Oil: RM2,425 (+RM21, +0.87%)
Crude palm oil prices rebounded in optimism over improve demand. The immediate support is envisaged around RM2,400.

WTI Crude Oil: $64.94 (+$0.56, +0.87%)
Trading in crude oil prices were also closed for the Good Friday public holiday. The immediate resistance is located at US$67.

Gold: $1,325.48 (-$0.02, -0.00%)
Gold prices ended marginally lower despite the U.S. Dollar depreciated against a basket of currencies. The immediate resistance will be pegged around US$1,360.

Economic Releases:
JP - Japan's Nikkei Manufacturing PMI, 8.30AM
CN - China's Caixin Manufacturing PMI, 9.45AM
US - United States' ISM Manufacturing PMI, 10.00PM

Bursa Malaysia Trade Statistics - 30 Mar 18
Institutions:  Net BUY 29.9 mln (60.2%)
Retail:  Net SELL 39.2 mln (22.2%)
Foreign:  Net BUY 9.3 mln (17.6%)

Potential Momentum Stocks - 2 Apr 18 
Stock Name: GBGARQS (5226)
Entry: Buy above RM1.54
Target: RM1.74 (13.0%), RM1.87 (21.4%)
Stop: RM1.47 (-4.5%)
Shariah: Yes
Technical: Bullish engulfing candle

Stock Name: MRCB (1651)
Entry: Buy above RM1.04
Target: RM1.16 (11.5%), RM1.21 (16.3%)
Stop: RM0.97 (-6.7%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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