KLSE Traders Update and Ideas

Daily Market Update - 10 Aug 2018 (N2N, SAMCHEM)

mplus313
Publish date: Fri, 10 Aug 2018, 08:41 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,509.23 pts (-74.52pts, -0.29%)
U.S. stockmarkets closed lower after erasing all their intraday gains as the Dow fell 0.3% after U.S. implement new sanctions against Moscow. The immediate resistance is located at 25,800.

FBM KLCI: 1,804.95 pts (+0.22pts, +0.01%)
The FBM KLCI (+0.01%) chalked in subtle gains, lifted by mild buying interest from foreign funds. The immediate resistance is located at 1,820.

Crude Palm Oil: RM2,246 (-RM12, -0.53%)
Crude palm oil prices halted a four-day winning streak on concern over rising supply. The immediate resistance is located around RM2,250.

WTI Crude Oil: $66.81 (-$0.13, -0.19%)
Crude oil prices extended its losses on fears over escalating trade war between U.S.-China. The immediate support is located at US$63.

Gold: $1,212.47 (-$1.41, -0.12%)
Gold prices edged lower after the Greenback appreciated against basket of currencies. The immediate support will be pegged around US$1,200.

Economic Releases:
JP - Japan's Producer Price Index, 7.50AM
MY - Malaysia's Industrial Production, 12.00PM
MY - Malaysia's Retail Sales, 12.00PM
MY - Malaysia's Unemployment Rate, 12.00PM
UK - United Kingdom's Manufacturing Production, 4.30PM
UK - United Kingdom's Industrial Production, 4.30PM
EU - Eurozone's Industrial Production, 5.00PM
US - United States' Inflation Rate, 8.30PM

Bursa Malaysia Trade Statistics - 9 Aug 18
Institutions:  Net SELL 4.2 mln (53.1%)
Retail:  Net SELL 14.0 mln (26.3%)
Foreign:  Net BUY 18.2 mln (20.6%)

Potential Momentum Stocks - 10 Aug 18 
Stock Name: N2N (0108)
Entry: Buy above RM1.30
Target: RM1.37 (5.4%), RM1.40 (7.7%)
Stop: RM1.24 (-4.6%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: SAMCHEM (5147)
Entry: Buy above RM1.00
Target: RM1.05 (5.0%), RM1.10 (10.0%)
Stop: RM0.97 (-3.0%)
Shariah: No
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

 

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