KLSE Traders Update and Ideas

Daily Market Update - 2 Jul 2018 (PWROOT, AEON)

mplus313
Publish date: Mon, 02 Jul 2018, 08:10 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,271.41 pts (+55.36pts, +0.23%)
U.S. stockmarkets extended their gains as the Dow rose 0.2%, boosted by the positive performance in energy shares from the higher crude oil prices. The immediate support is located at 24,000.

FBM KLCI: 1,691.50 pts (+25.82pts, +1.55%)
The FBM KLCI (+1.6%) managed to trim its monthly losses, lifted by window dressing activities last Friday as foreign funds turned net buy position for the first time in 37 trading days. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,326 (-RM17, -0.73%)
Crude palm oil prices retreated, dragged down by the firmer Ringgit against the Greenback. The immediate resistance is envisaged around RM2,350.

WTI Crude Oil: $74.15 (+$0.70, +0.95%)
Crude oil prices extended its gains in anticipation of sanctions over Iran coupled with supply disruptions in Canada and Libya. The immediate resistance is located at US$75.

Gold: $1,252.60 (+$4.35, +0.35%)
Gold prices rebounded after the U.S. Dollar retreated against a basket of currencies. The immediate support will be pegged around US$1,220.

Economic Releases:
JP - Japan's Nikkei Manufacturing PMI, 8.30AM
CN - China's Caixin Manufacturing PMI, 9.45AM
EU - Eurozone's Markit Manufacturing PMI, 8.30PM
EU - Eurozone's Unemployment Rate, 5.00PM
US - United States' ISM Manufacturing PMI, 10.00PM

Bursa Malaysia Trade Statistics - 29 Jun 18
Institutions:  Net SELL 225.7 mln (53.6%)
Retail:  Net SELL 33.7 mln (16.4%)
Foreign:  Net BUY 259.4 mln (30.0%)

Potential Momentum Stocks - 2 Jul 18 
Stock Name: PWROOT (7237)
Entry: Buy above RM1.79
Target: RM1.90 (6.1%), RM2.03 (13.4%)
Stop: RM1.70 (-5.0%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: AEON (6599)
Entry: Buy above RM2.32
Target: RM2.50 (7.8%), RM2.65 (14.2%)
Stop: RM2.22 (-4.3%)
Shariah: Yes
Technical: Monitor for trendline breakout

Source: Bloomberg, M+ Online

 

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