KLSE Traders Update and Ideas

Daily Market Update - 3 Apr 2018 (LSTEEL, MALTON)

mplus313
Publish date: Tue, 03 Apr 2018, 08:33 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 23,644.19 pts (-458.92pts, -1.90%)
Wall Street endured another round of selloff overnight as the Dow (-1.9%) slipped below the 24,000 psychological level on selloff in technology shares. The immediate support is located at 23,000.

FBM KLCI: 1,858.35 pts (-5.11pts, -0.27%)
The FBM KLCI (-0.3%) closed lower on Monday after the key index lingered in the negative territory for most of the trading session. The immediate resistance is located at 1,880.

Crude Palm Oil: RM2,458 (+RM33, +1.36%)
Crude palm oil prices extended its gains to close at one-week high amid the encouraging exports data. The immediate support is envisaged around RM2,400.

WTI Crude Oil: $63.01 (-$1.93, -2.97%)
Crude oil prices experienced its biggest daily decline since early February on concern over trade war between U.S. and China. The immediate resistance is located at US$67.

Gold: $1,341.29 (+$15.81, +1.19%)
Gold prices advanced as demand for safe haven assets increased. The immediate resistance will be pegged around US$1,360.

Economic Releases:
EU - Eurozone's Markit Manufacturing PMI, 4.00PM

Bursa Malaysia Trade Statistics - 2 Apr 18
Institutions:  Net BUY 64.4 mln (62.5%)
Retail:  Net SELL 23.8 mln (25.8%)
Foreign:  Net SELL 40.6 mln (11.7%)

Potential Momentum Stocks - 3 Apr 18 
Stock Name: LSTEEL (9881)
Entry: Buy above RM0.465
Target: RM0.515 (10.8%), RM0.56 (20.4%)
Stop: RM0.43 (-7.5%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: MALTON (6181)
Entry: Buy above RM0.865
Target: RM0.96 (11.0%), RM1.03 (19.1%)
Stop: RM0.79 (-8.7%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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