KLSE Traders Update and Ideas

Daily Market Update - 9 Jul 2018 (YONGTAI, SERBADK)

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Publish date: Mon, 09 Jul 2018, 08:40 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,456.48 pts (+99.74pts, +0.41%)
U.S. stockmarkets extended their gains as the Dow rose 0.4% on last Friday as investor assess the impact of tariff on China goods. The immediate support is located at 24,000.

FBM KLCI: 1,663.86 pts (-26.79pts, -1.58%)
The FBM KLCI (-1.6%) took a beating and subsequently erased all its previous two session gains ahead of the U.S. and China tariff implementation on last Friday. The immediate support is located at 1,650.

Crude Palm Oil: RM2,284 (-RM18, -0.79%)
Crude palm oil prices registered its fourth straight session of decline amid the appreciation of Ringgit against the Greenback. The immediate resistance is support around RM2,250.

WTI Crude Oil: $73.80 (+$0.86, +1.18%)
Crude oil prices extended its gains amid the supply disruptions in Libya and Canada. The immediate support is located at US$70.

Gold: $1,255.48 (-$2.43, -0.19%)
Gold prices retreated after the U.S. Dollar appreciated against a basket of currencies. The immediate support will be pegged around US$1,220.

Bursa Malaysia Trade Statistics - 6 Jul 18
Institutions:  Net BUY 334.3 mln (46.3%)
Retail:  Net BUY 59.3 mln (19.9%)
Foreign:  Net SELL -393.6 mln (33.8%)

Potential Momentum Stocks - 9 Jul 18
Stock Name: YONGTAI (7066)
Entry: Buy above RM1.47
Target: RM1.52 (3.4%), RM1.59 (8.2%)
Stop: RM1.44 (-2.0%)
Shariah: Yes
Technical: Flag-formation breakout

Stock Name: SERBADK (5279)
Entry: Buy above RM3.40
Target: RM3.59 (5.6%), RM3.68 (8.2%)
Stop: RM3.31 (-2.6%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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