KLSE Traders Update and Ideas

Daily Market Update - 13 Jun 2018 (E&O, GFM)

mplus313
Publish date: Wed, 13 Jun 2018, 08:43 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,320.73 pts (-1.58pts, -0.01%)
U.S. stockmarkets ended marginally lower as investors digested the meeting between U.S. President Donald Trump and North Korean leader, Kim Jong Un. The immediate resistance is located at 25,500.

FBM KLCI: 1,764.16 pts (-11.64pts, -0.66%)
The FBM KLCI (-0.7%) succumbs to further selling pressure as the key index recorded its third straight session of losses yesterday after foreign funds step up selling activities in emerging markets. The immediate resistance is located at 1,800.

Crude Palm Oil: RM2,326 (-RM34, -1.44%)
Crude palm oil prices registered its seventh consecutive losing streak to close at its lowest level since August 2016 amid the sluggish May export data. The immediate support is envisaged around RM2,300.

WTI Crude Oil: $66.36 (+$0.26, +0.39%)
Crude oil prices extended its gains as OPEC has reported on an uncertain outlook in remainder of 2018. The immediate support is located at US$62.

Gold: $1,295.97 (-$4.52, -0.35%)
Gold prices halted a three-day winning streak as U.S. and North Korea agreed on denuclearisation in North Korea. The immediate support will be pegged around US$1,260.

Economic Releases:
UK - United Kingdom's Inflation Rate, 4.30PM
EU - Eurozone's Industrial Production, 5.00PM
US - United States' Producer Price Index, 8.30PM

Bursa Malaysia Trade Statistics - 12 Jun 18
Institutions:  Net BUY 309.2 mln (47.8%)
Retail:  Net BUY 49.8 mln (23.0%)
Foreign:  Net SELL 359.0 mln (29.2%)

Potential Momentum Stocks - 13 Jun 18 
Stock Name: E&O (3417)
Entry: Buy above RM1.54
Target: RM1.62 (5.2%), RM1.69 (9.7%)
Stop: RM1.46 (-5.2%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: GFM (0039)
Entry: Buy above RM0.57
Target: RM0.625 (9.6%), RM0.66 (15.8%)
Stop: RM0.515 (-9.6%)
Shariah: Yes
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

 

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