KLSE Traders Update and Ideas

Daily Market Update - 30 Jul 2018 (ENGTEX, EDEN)

mplus313
Publish date: Mon, 30 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: 25,451.06 pts (-76.01pts, -0.30%)
U.S. stockmarkets retreated last Friday as the Dow fell 0.3%, dragged down by a string of weaker-than-expected corporate earnings. The immediate resistance is located at 25,800.

FBM KLCI: 1,769.14 pts (+2.91pts, +0.16%)
The FBM KLCI (+0.2%) advanced for the fifth straight session, lifted by the eleventh hour buying support in selected index heavyweights last Friday. The immediate resistance is located at 1,780.

Crude Palm Oil: RM2,186 (-RM16, -0.73%)
Crude palm oil prices ended lower as concern over rising supply overshadowed by recovery in export demand. The immediate support is located around RM2,100.

WTI Crude Oil: $68.69 (+$0.31, +0.44%)
Crude oil prices extended its gains on the increase in U.S. drilling activities. The immediate resistance is located at US$70.

Gold: $1,224.22 (+$1.53, +0.13%)
Gold prices staged a mild recovery 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 Retail Sales, 7.50AM
EU - Eurozone's Business Confidence, 5.00PM
EU - Eurozone's Economic Sentiment, 5.00PM
EU - Eurozone's Industrial Sentiment, 5.00PM

Bursa Malaysia Trade Statistics - 27 Jul 18
Institutions:  Net BUY 60.3 mln (51.5%)
Retail:  Net BUY 1.0 mln (23.4%)
Foreign:  Net SELL 61.3 mln (25.1%)

Potential Momentum Stocks - 30 Jul 18 
Stock Name: ENGTEX (5056)
Entry: Buy above RM1.10
Target: RM1.18 (7.3%), RM1.24 (12.7%)
Stop: RM1.07 (-2.7%)
Shariah: No
Technical: Breakout-pullback-continuation

Stock Name: EDEN (7471)
Entry: Buy above RM0.315
Target: RM0.35 (11.1%), RM0.375 (19.0%)
Stop: RM0.29 (-7.9%)
Shariah: Yes
Technical: Flag-formation breakout

Source: Bloomberg, M+ Online

 

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