KLSE Traders Update and Ideas

Daily Market Update - 30 May 2018 (MUDA, BINACOM)

mplus313
Publish date: Wed, 30 May 2018, 08:44 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,361.45 pts (-391.64pts, -1.58%)
U.S. stockmarkets trended sharply lower as the Dow sank 1.6% on mounting concern over political instability in Italy and Spain. The immediate resistance is located at 25,800.

FBM KLCI: 1,775.84 pts (-21.56pts, -1.20%)
The FBM KLCI (-1.2%) erased most of its previous session gains as foreign funds continue to trim their position in the local equities. The immediate resistance is located at 1,800.

Crude Palm Oil: RM2,418 (-RM37, -1.51%)
Crude palm oil prices extended its losses in tandem with the weakness in crude oil prices coupled with sluggish export demand. The immediate support is envisaged around RM2,400.

WTI Crude Oil: $66.73 (-$1.15, -1.70%)
Crude oil prices declined for the fourth straight session amid concern over OPEC's move to ramp up production. The immediate resistance is located at US$70.

Gold: $1,298.77 (-$0.27, -0.02%)
Gold prices trended marginally lower despite political uncertainty in Italy and Spain. The immediate support will be pegged around US$1,260.

Economic Releases:
JP - Japan's Unemployment Rate, 7.30AM
EU - Eurozone's Business Confidence, 5.00PM

Bursa Malaysia Trade Statistics - 29 May 18
Institutions:  Net BUY 130.9 mln (51.4%)
Retail:  Net BUY 85.6 mln (24.1%)
Foreign:  Net SELL 216.5 mln (24.5%)

Potential Momentum Stocks - 30 May 18 
Stock Name: MUDA (3883)
Entry: Buy above RM2.70
Target: RM2.96 (9.6%), RM3.20 (18.5%)
Stop: RM2.50 (-7.4%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: BINACOM (0195)
Entry: Buy above RM0.45
Target: RM0.51 (13.3%), RM0.55 (22.2%)
Stop: RM0.40 (-11.1%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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