KLSE Traders Update and Ideas

Daily Market Update - 20 Sept 2018 (NOTION, IDEAL)

mplus313
Publish date: Thu, 20 Sep 2018, 09:02 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,405.76 pts (+158.80pts, +0.61%)
U.S. stockmarkets extended their gains overnight as the Dow added 0.6%, after the Greenback retreated against a basket of currencies on expectation that U.S. and Canada could not agree on a new NAFTA deal. The immediate resistance is located at 26,600.

FBM KLCI: 1,800.71 pts (+7.77pts, +0.43%)
The FBM KLCI (+0.4%) recovered most of its previous session losses, in tandem with the positive sentiment across regional peers yesterday. The immediate support is located at 1,780.

Crude Palm Oil: RM2,158 (-RM40, -1.82%)
Crude palm oil prices retreated for the third straight session, dragged down by sluggish demand. The immediate support is located around RM2,150.

WTI Crude Oil: $71.12 (+$1.27, +1.82%)
Crude oil prices extended its gains after U.S. inventory level dropped to 3-year low. The immediate resistance is located at US$72.

Gold: $1,204.04 (+$5.68, +0.47%)
Gold prices rebounded above the US$1,200 psychological level after the U.S. Dollar retreated against a basket of currencies. The immediate support will be pegged around US$1,150.

Economic Releases:
JP - Japan's Inflation Rate, 7.30AM
UK - United Kingdom's Retail Sales, 4.30PM
US - United States' Existing Home Sales, 10.00PM

Bursa Malaysia Trade Statistics - 19Sep18
Institutions:  Net SELL 56.7 mln (45.1%)
Retail:  Net BUY 0.2 mln (23.4%)
Foreign:  Net BUY 56.5 mln (31.5%)

Potential Momentum Stocks - 20Sep18
Stock Name: NOTION (0083)
Entry: Buy above RM0.645
Target: RM0.70 (8.5%), RM0.73 (13.2%)
Stop: RM0.605 (-6.2%)
Shariah: Yes
Technical: Consolidation breakout

Stock Name: IDEAL (9687)
Entry: Buy above RM1.59
Target: RM1.73 (8.8%), RM1.87 (17.6%)
Stop: RM1.50 (-5.7%)
Shariah: Yes
Technical: Trendline breakout

Source: Bloomberg, M+ Online

 

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