KLSE Traders Update and Ideas

Daily Market Update - 11 Jul 2018 (JHM, SKPRES)

mplus313
Publish date: Wed, 11 Jul 2018, 08:28 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,919.66 pts (+143.07pts, +0.58%)
U.S. stockmarkets advanced for the fourth straight session as investors shift their focus on a slew of upcoming corporate results. The immediate support is located at 24,000.

FBM KLCI: 1,687.13 pts (+14.50pts, +0.87%)
The FBM KLCI (+0.9%) extended its gains, taking cue from the positive developments in Wall Street overnight coupled with the firmer Ringgit against the Greenback. The immediate support is located at 1,660.

Crude Palm Oil: RM2,259 (-RM9, -0.40%)
Crude palm oil prices retreated as gains were curbed by the appreciation of Ringgit against the U.S. Dollar. The immediate resistance is support around RM2,250.

WTI Crude Oil: $74.11 (+$0.26, +0.35%)
Crude oil prices extended its gains amid the larger-than-expected inventory decline in U.S. coupled with supply disruptions in Libya and Norway. The immediate resistance is located at US$75.

Gold: $1,255.54 (-$2.14, -0.17%)
Gold prices retreated as investors flock to riskier assets. The immediate support will be pegged around US$1,220.

Economic Releases:
JP - Japan's Producer Price Index, 7.50AM
US - United States' Producer Price Index, 8.30PM

Bursa Malaysia Trade Statistics - 10 Jul 18
Institutions:  Net BUY 168.2 mln (44.1%)
Retail:  Net BUY 9.2 mln (22.4%)
Foreign:  Net SELL 177.4 mln (33.5%)

Potential Momentum Stocks - 11 Jul 18 
Stock Name: JHM (0127)
Entry: Buy above RM1.03
Target: RM1.11 (7.8%), RM1.07 (3.9%)
Stop: RM0.97 (-5.8%)
Shariah: Yes
Technical: Bullish engulfing candle

Stock Name: SKPRES (7155)
Entry: Buy above RM1.44
Target: RM1.63 (13.2%), RM1.75 (21.5%)
Stop: RM1.34 (-6.9%)
Shariah: Yes
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

 

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