KLSE Traders Update and Ideas

Daily Market Update - 14 Aug 2018 (CCK, MMCCORP)

mplus313
Publish date: Tue, 14 Aug 2018, 08:38 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,187.70 pts (-125.44pts, -0.50%)
U.S. stockmarkets continues to edge lower overnight as the Dow (0.5%0 erased all its intraday gains on mounting concern over Turkey's financial stability. The immediate resistance is located at 25,800.

FBM KLCI: 1,783.34 pts (-22.41pts, -1.24%)
The FBM KLCI (-1.2%) halted a four-day winning streak after closing below the 1,800 psychological level yesterday amid the concern over the geopolitical risk in Turkey. The immediate support is located at 1,760.

Crude Palm Oil: RM2,204 (-RM38, -1.69%)
Crude palm oil prices trended lower for the third straight session, taking cue from the lower soybean oil prices. The immediate resistance is located around RM2,250.

WTI Crude Oil: $67.20 (-$0.43, -0.64%)
Crude oil prices staged a mild pullback after OPEC revised downwards on expectation over demand growth. The immediate support is located at US$63.

Gold: $1,193.50 (-$17.07, -1.41%)
Gold prices recorded its losses to close below the US$1,200 psychological level amid the appreciation of Greenback against a basket of currencies. The immediate support will be pegged around US$1,180.

Economic Releases:
CN - China's Retail Sales, 10.00AM
CN - China's Industrial Production, 10.00AM
JP - Japan's Industrial Production, 12.30PM
UK - United Kingdom's Unemployment Rate, 4.30PM
EU - Eurozone's Industrial Production, 5.00PM

Bursa Malaysia Trade Statistics - 13 Aug 18
Institutions:  Net BUY 111.3 mln (51.7%)
Retail:  Net BUY 31.0 mln (21.6%)
Foreign:  Net SELL 142.3 mln (26.7%)

Potential Momentum Stocks - 14 Aug 18 
Stock Name: CCK (7035)
Entry: Buy above RM0.905
Target: RM0.97 (7.2%), RM1.01 (11.6%)
Stop: RM0.86 (-5.0%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: MMCCORP (2194)
Entry: Buy above RM1.52
Target: RM1.66 (9.2%), RM1.77 (16.4%)
Stop: RM1.42 (-6.6%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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