KLSE Traders Update and Ideas

Daily Market Update - 13 Sept 2018 (DIALOG, ASTRO)

mplus313
Publish date: Thu, 13 Sep 2018, 08:44 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,998.92 pts (+27.86pts, +0.11%)
U.S. stockmarkets trended higher as the Dow rose 0.1%, boosted by optimism over resumption of trade talks with China. The immediate resistance is located at 26,600.

FBM KLCI: 1,785.25 pts (-13.92pts, -0.77%)
The FBM KLCI (-0.8%) succumbs to sharp selling pressure from foreign funds in tandem with the weakness across regional peers yesterday. The immediate support is located at 1,780.

Crude Palm Oil: RM2,237 (-RM29, -1.28%)
Crude palm oil prices trended lower, taking cue from the weakness in soybean oil prices. The immediate resistance is located around RM2,300.

WTI Crude Oil: $70.37 (+$1.12, +1.61%)
Crude oil prices extended its gains, lifted by the decline in U.S. inventory and output levels. The immediate resistance is located at US$75.

Gold: $1,206.24 (+$7.65, +0.64%)
Gold prices extended its gains after the rally in U.S. Dollar against a basket of currencies stalled. The immediate support will be pegged around US$1,150.

Economic Releases:
JP - Japan's Producer Price Index, 7.50AM
MY - Malaysia's Retail Sales, 12.00PM
UK - United Kingdom's Bank of England's Quantitative Easing, 7.00PM
UK - United Kingdom's Bank of England's Interest Rate Decision, 7.00PM
EU - Eurozone's European Central Bank's Interest Rate Decision, 7.45PM
US - United States' Inflation Rate, 8.30PM

Bursa Malaysia Trade Statistics - 12Sep18
Institutions:  Net BUY 310.0 mln (47.0%)
Retail:  Net BUY 39.8 mln (16.8%)
Foreign:  Net SELL 349.8 mln (36.2%)

Potential Momentum Stocks - 13Sep18 
Stock Name: DIALOG (7277)
Entry: Buy above RM3.45
Target: RM3.56 (3.2%), RM3.70 (7.2%)
Stop: RM3.35 (-2.9%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: ASTRO (6399)
Entry: Buy above RM1.83
Target: RM1.97 (7.7%), RM2.09 (14.2%)
Stop: RM1.74 (-4.9%)
Shariah: No
Technical: Hammer candle

Source: Bloomberg, M+ Online

 

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