KLSE Traders Update and Ideas

Daily Market Update - 7 Sept 2018 (YTLREIT, SIME)

mplus313
Publish date: Fri, 07 Sep 2018, 08:08 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,995.87 pts (+20.88pts, +0.08%)
Once again, U.S. stockmarkets finished on a mixed note as the Dow (+0.1%) extended its gains, but the S&P 500 (-0.4%) retreated for the third straight session on weakness in the technology and energy sectors. The immediate resistance is located at 26,600.

FBM KLCI: 1,798.57 pts (+3.07pts, +0.17%)
The FBM KLCI (+0.2%) halted a five-day losing streak, lifted by bargain hunting activities in selected index heavyweight yesterday. The immediate support is located at 1,780.

Crude Palm Oil: RM2,277 (-RM14, -0.61%)
Crude palm oil prices extended its losses on concern over rising stockpile level. The immediate resistance is located around RM2,350.

WTI Crude Oil: $67.77 (-$0.95, -1.38%)
Crude oil prices edged lower for the second session, dragged down by rising production and inventory level. The immediate support is located at US$64.

Gold: $1,199.98 (+$3.25, +0.27%)
Gold prices extended its gains to close marginally below the US$1,200 psychological level after the Greenback stabilised against a basket of currencies. The immediate support will be pegged around US$1,150.

Economic Releases:
US - United States' Unemployment Rate, 8.30PM

Bursa Malaysia Trade Statistics - 6Sep18
Institutions:  Net BUY 183.2 mln (54.1%)
Retail:  Net BUY 26.5 mln (18.9%)
Foreign:  Net SELL 209.7 mln (27.0%)

Potential Momentum Stocks - 7Sep18 
Stock Name: YTLREIT (5109)
Entry: Buy above RM1.23
Target: RM1.28 (4.1%), RM1.33 (8.1%)
Stop: RM1.19 (-3.3%)
Shariah: No
Technical: Breakout-pullback-continuation

Stock Name: SIME (4197)
Entry: Buy above RM2.67
Target: RM2.93 (9.7%), RM3.06 (14.6%)
Stop: RM2.50 (-6.4%)
Shariah: Yes
Technical: Resistance breakout

Source: Bloomberg, M+ Online

 

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