KLSE Traders Update and Ideas

Daily Market Update - 18 Jun 2018 (JHM, BJCORP)

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Publish date: Mon, 18 Jun 2018, 08:39 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,090.48 pts (-84.83pts, -0.34%)
U.S. stockmarkets retreated after recouping some of their intraday losses as the Dow fell 0.3% last Friday, dragged down by escalating concern over U.S. and China trade dispute. The immediate support is located at 25,000.

FBM KLCI: 1,761.78 pts (-1.79pts, -0.10%)
The FBM KLCI (-0.1%) registered its fifth straight session of losses ahead of the extended Hari Raya festive break. The immediate resistance is located at 1,800.

Crude Palm Oil: RM2,336 (+RM16, +0.69%)
Crude palm oil prices rebounded from an eight consecutive session of selloff after the European Parliament seeks to soften crude palm oil clampdown. The immediate support is envisaged around RM2,300.

WTI Crude Oil: $65.06 (-$1.83, -2.71%)
Crude oil prices took a beating last Friday in anticipation of higher supply ahead of OPEC meeting. The immediate support is located at US$62.

Gold: $1,278.94 (-$23.31, -1.79%)
Gold prices sank to its lowest level since December 2017 amid the strength in U.S Dollar against a basket of currencies after the U.S. Federal Reserve hinted on a hawkish tone on future rate hikes. The immediate support will be pegged around US$1,260.

Bursa Malaysia Trade Statistics - 15 Jun 18
Institutions:  Net BUY 386.8 mln (25.0%)
Retail:  Net BUY 15.4 mln (9.4%)
Foreign:  Net SELL 402.2 mln (65.6%)

Potential Momentum Stocks - 18 Jun 18 
Stock Name: JHM (0127)
Entry: Buy above RM1.11
Target: RM1.22 (9.9%), RM1.34 (20.7%)
Stop: RM1.00 (-9.9%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: BJCORP (3395)
Entry: Buy above RM0.32
Target: RM0.35 (9.4%), RM0.39 (21.9%)
Stop: RM0.31 (-3.1%)
Shariah: No
Technical: Flag-formation breakout

Source: Bloomberg, M+ Online

 

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