KLSE Traders Update and Ideas

Daily Market Update - 4 Sept 2018 (ATAIMS, PANSAR)

mplus313
Publish date: Tue, 04 Sep 2018, 08:45 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,964.82 pts (-22.10pts, -0.09%)
U.S. stockmarkets were closed for the Labour Day public holiday overnight. The immediate resistance is located at 26,600.

FBM KLCI: 1,813.58 pts (-6.08pts, -0.33%)
The FBM KLCI (-0.3%) extended its losses in tandem with the selloff in emerging markets yesterday amid concern over trade tension. The immediate resistance is located at 1,830.

Crude Palm Oil: RM2,258 (+RM10, +0.44%)
Crude palm oil prices extended its gains, lifted by the weakness in Ringgit that depreciated to 10-months low against the Greenback. The immediate support is located around RM2,200.

WTI Crude Oil: $69.80 (-$0.45, -0.64%)
Crude oil prices retreated after Libya's supply pushed OPEC's production to year-to-date high. The immediate resistance is located at US$70.

Gold: $1,201.27 (-$2.35, -0.20%)
Gold prices retreated after the U.S. Dollar strengthened against a basket of currencies. The immediate resistance will be pegged around US$1,250.

Economic Releases:
EU - Eurozone's Producer Price Index, 5.00PM
US - United States' Markit Manufacturing PMI, 9.45PM
US - United States' ISM Manufacturing PMI, 10.00PM

Bursa Malaysia Trade Statistics - 3Sep18
Institutions:  Net SELL 21.2 mln (42.6%)
Retail:  Net BUY 2.9 mln (25.5%)
Foreign:  Net BUY 18.3 mln (31.9%)

Potential Momentum Stocks - 4Sep18 
Stock Name: ATAIMS (8176)
Entry: Buy above RM1.63
Target: RM1.81 (11.0%), RM1.88 (15.3%)
Stop: RM1.55 (-4.9%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: PANSAR (8419)
Entry: Buy above RM0.87
Target: RM0.935 (7.5%), RM0.98 (12.6%)
Stop: RM0.825 (-5.2%)
Shariah: Yes
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

 

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