KLSE Traders Update and Ideas

Daily Market Update - 26 Jun 2018 (CCM, SCICOM)

mplus313
Publish date: Tue, 26 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: 24,252.80 pts (-328.09pts, -1.33%)
U.S. stockmarkets erased all their previous session gains as the Dow fell 1.3% after China and European countries retaliate against U.S. tariff imposition. The immediate support is located at 24,000.

FBM KLCI: 1,678.10 pts (-16.05pts, -0.95%)
The FBM KLCI (-1.0%) endured another round of selling pressure alongside its regional peers amid the escalating trade tension. The immediate support is located at 1,660.

Crude Palm Oil: RM2,290 (+RM6, +0.26%)
Crude palm oil prices extended its gains, boosted by optimism over increase demand from India. The immediate support is envisaged around RM2,200.

WTI Crude Oil: $68.08 (-$0.50, -0.73%)
Crude oil prices pared off some of its previous session sharp gains as investors assess the impact of OPEC and Russia output decision. The immediate resistance is located at US$70.

Gold: $1,265.64 (-$4.92, -0.39%)
Gold prices retreated to six month low amid the shift in demand to treasuries. The immediate support will be pegged around US$1,260.

Bursa Malaysia Trade Statistics - 25 Jun 18
Institutions:  Net BUY 251.7 mln (47.4%)
Retail:  Net BUY 39.7 mln (22.1%)
Foreign:  Net SELL 291.4 mln (30.5%)

Potential Momentum Stocks - 26 Jun 18 
Stock Name: CCM (2879)
Entry: Buy above RM2.41
Target: RM2.60 (7.9%), RM2.77 (14.9%)
Stop: RM2.26 (-6.2%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: SCICOM (0099)
Entry: Buy above RM2.00
Target: RM2.15 (7.5%), RM2.23 (11.5%)
Stop: RM1.90 (-5.0%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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