KLSE Traders Update and Ideas

Daily Market Update - 22 Jun 2018 (GHLSYS, TALIWRK)

mplus313
Publish date: Fri, 22 Jun 2018, 05:19 PM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,461.70 pts (-196.10pts, -0.80%)
U.S. stockmarkets extended their losses as the Dow (-0.8%) recorded its eighth straight losing streak, weighed by fears of a potential trade war. The immediate support is located at 24,500.

FBM KLCI: 1,692.32 pts (-17.43pts, -1.02%)
The FBM KLCI (-1.0%) closed at its lowest level since February 2017 after descending for the ninth straight session yesterday. The immediate support is located at 1,660.

Crude Palm Oil: RM2,251 (-RM11, -0.49%)
Crude palm oil prices closed lower for the fourth consecutive day on sluggish export outlook. The immediate support is envisaged around RM2,200.

WTI Crude Oil: $65.54 (-$0.68, -1.03%)
Crude oil prices retreated, erasing most of its previous session gains after majority of OPEC oil ministers are in favour of raising production. The immediate support is located at US$62.

Gold: $1,267.19 (-$0.67, -0.05%)
Gold prices extended its losses as the Greenback continues to appreciate against a basket of currencies. The immediate support will be pegged around US$1,260.

Economic Releases:
JP - Japan's Inflation Rate, 7.30AM

Bursa Malaysia Trade Statistics - 21 Jun 18
Institutions:  Net BUY 94.5 mln (53.2%)
Retail:  Net BUY 170.4 mln (18.3%)
Foreign:  Net SELL 264.9 mln (28.5%)

Potential Momentum Stocks - 22 Jun 18 
Stock Name: GHLSYS (0021)
Entry: Buy above RM1.57
Target: RM1.68 (7.0%), RM1.75 (11.5%)
Stop: RM1.50 (-4.5%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: TALIWRK (8524)
Entry: Buy above RM0.81
Target: RM0.895 (10.5%), RM0.935 (15.4%)
Stop: RM0.755 (-6.8%)
Shariah: Yes
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

 

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