KLSE Traders Update and Ideas

Daily Market Update - 10 Jul 2018 (GTRONIC, AEMULUS)

mplus313
Publish date: Tue, 10 Jul 2018, 08:37 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,776.59 pts (+320.11pts, +1.31%)
U.S. stockmarkets extended its gains as the Dow rose 1.3%, lifted by the upbeat expectation over upcoming corporate results that offset the concern over trade tension. The immediate support is located at 24,000.

FBM KLCI: 1,672.63 pts (+8.77pts, +0.53%)
Tracking the gains in Wall Street on last Friday, the FBM KLCI (+0.5%) trended higher in line with the positive sentiment across regional peers. The immediate support is located at 1,650.

Crude Palm Oil: RM2,266 (+RM2, +0.09%)
Crude palm oil prices halted a four straight session of decline, lifted by the weaker Ringgit against the Greenback. The immediate resistance is support around RM2,250.

WTI Crude Oil: $74.01 (+$0.86, +1.18%)
Crude oil prices rebounded over concern of production supply from Iran, Libya and Canada. The immediate resistance is located at US$75.

Gold: $1,257.69 (+$2.34, +0.19%)
Gold prices advanced on mounting concern over Brexit's plan. The immediate support will be pegged around US$1,220.

Economic Releases:
CN - China's Inflation Rate, 9.30AM
CN - China's Producer Price Index, 9.30AM
UK - United Kingdom's Manufacturing Production, 4.30PM
UK - United Kingdom's Industrial Production, 4.30PM

Bursa Malaysia Trade Statistics - 9 Jul 18
Institutions:  Net SELL 0.4 mln (52.1%)
Retail:  Net BUY 132.9 mln (23.1%)
Foreign:  Net SELL 132.5 mln (24.8%)

Potential Momentum Stocks - 10 Jul 18 
Stock Name: GTRONIC (7022)
Entry: Buy above RM2.28
Target: RM2.52 (10.5%), RM2.73 (19.7%)
Stop: RM2.10 (-7.9%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: AEMULUS (0181)
Entry: Buy above RM0.41
Target: RM0.455 (11.0%), RM0.48 (17.1%)
Stop: RM0.39 (-4.9%)
Shariah: Yes
Technical: Flag-formation breakout

Source: Bloomberg, M+ Online

 

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