KLSE Traders Update and Ideas

Daily Market Update - 10 Apr 2018 (CCK, GHLSYS)

mplus313
Publish date: Tue, 10 Apr 2018, 08:42 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 23,979.10 pts (+46.34pts, +0.19%)

U.S. stockmarkets rebounded overnight as the Dow added 0.2% after its intraday gains were trimmed by news of FBI raid on President Donal Trump's lawyer, Michael Cohen's office. The immediate resistance is located at 24,500.
 
FBM KLCI: 1,849.71 pts (+12.70pts, +0.69%)
The FBM KLCI (+0.7%) advanced for the third consecutive session yesterday, boosted by the continuous foreign fund inflow. The immediate resistance is located at 1,880.
 
Crude Palm Oil: RM2,464 (-RM41, -1.64%)
Crude palm oil prices halted a three-day winning streak in line with weakness in soybean oil. The immediate resistance is envisaged around RM2,570.
 
WTI Crude Oil: $63.42 (+$1.36, +2.19%)
Crude oil prices rebounded after concern over trade war between China and U.S. eased. The immediate resistance is located at US$67.
 
Gold: $1,336.35 (+$3.32, +0.25%)
Gold prices rebounded as the U.S. Dollar depreciated against a basket of currencies. The immediate resistance will be pegged around US$1,360.
Economic Releases:
US - United States' Producer Price Index, 8.30PM
 
Bursa Malaysia Trade Statistics - 9 Apr 18
Institutions:  Net SELL 157.0 mln (52.1%)
Retail:  Net SELL 31.3 mln (22.9%)
Foreign:  Net BUY 188.3 mln (25.0%)
 
Potential Momentum Stocks - 10 Apr 18
Stock Name: CCK (7035)
Entry: Buy above RM1.34
Target: RM1.39 (3.7%), RM1.45 (8.2%)
Stop: RM1.29 (-3.7%)
Shariah: Yes
Technical: Breakout-pullback-continuation
 
Stock Name: GHLSYS (0021)
Entry: Buy above RM1.16
Target: RM1.28 (10.3%), RM1.35 (16.4%)
Stop: RM1.09 (-6.0%)
Shariah: Yes
Technical: Consolidation breakout
 
Source: Bloomberg, M+ Online

 

 

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