KLSE Traders Update and Ideas

Daily Market Update - 29 Jun 2018 (DSONIC, TUNEPRO)

mplus313
Publish date: Fri, 29 Jun 2018, 08:53 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,216.05 pts (+98.46pts, +0.41%)
U.S. stockmarkets rebounded as the Dow gained 0.4% after U.S. President Donald Trump soften his stance on crackdown in Chinese investments in the country. The immediate support is located at 24,000.

FBM KLCI: 1,665.68 pts (-0.40pts, -0.02%)
The FBM KLCI (-0.02%) recorded its fourth straight losing streak, dragged down by the eleventh hour selling pressure in selected index heavyweights yesterday. The immediate support is located at 1,660.

Crude Palm Oil: RM2,343 (+RM28, +1.21%)
Crude palm oil prices extended its gains to close above the RM2,300 psychological level, taking cue from the higher soybean oil prices. The immediate resistance is envisaged around RM2,350.

WTI Crude Oil: $73.45 (+$0.69, +0.95%)
Crude oil prices rose, boosted by gradual sanctions in Iran. The immediate resistance is located at US$75.

Gold: $1,248.25 (-$4.10, -0.33%)
Gold prices extended its losses after the Greenback continue to appreciate against a basket of currencies. The immediate support will be pegged around US$1,220.

Bursa Malaysia Trade Statistics - 28 Jun 18
Institutions:  Net BUY 197.6 mln (48.0%)
Retail:  Net BUY 8.5 mln (19.5%)
Foreign:  Net SELL 206.1 mln (32.5%)

Potential Momentum Stocks - 29 Jun 18
Stock Name: DSONIC (5216)
Entry: Buy above RM0.97
Target: RM1.04 (7.2%), RM1.13 (16.5%)
Stop: RM0.92 (-5.2%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: TUNEPRO (5230)
Entry: Buy above RM0.89
Target: RM0.965 (8.4%), RM1.04 (16.9%)
Stop: RM0.85 (-4.5%)
Shariah: No
Technical: Breakout-pullback-continuation

Source: Bloomberg, M+ Online

 

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