KLSE Traders Update and Ideas

Daily Market Update - 25 Sept 2018 (DELEUM, DAYANG)

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Publish date: Tue, 25 Sep 2018, 08:27 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,562.05 pts (-181.45pts, -0.68%)
U.S. stockmarkets retreated overnight as the Dow fell 0.7%, falling from its all-time high level and concurrently snap a four-day winning streak on fresh concern over trade dispute with China. The immediate resistance is located at 27,000.

FBM KLCI: 1,800.17 pts (-10.47pts, -0.58%)
The FBM KLCI (-0.6%) halted a three-day winning streak yesterday as sentiment were dented by the cancellation of bilateral trade talks between U.S. and China. The immediate resistance is located at 1,830.

Crude Palm Oil: RM2,163 (+RM20, +0.93%)
Crude palm oil prices rebounded for the first time in six trading days, taking cue from the higher prices in soybean oil. The immediate support is located around RM2,100.

WTI Crude Oil: $72.08 (+$1.30, +1.84%)
Crude oil prices jumped to its highest level in four years after Russia and Saudi Arabia ruled out any immediate increase in production calls from U.S. President Donald Trump. The immediate resistance is located at US$75.

Gold: $1,199.03 (-$1.01, -0.08%)
Gold prices extended its losses after the U.S. Dollar appreciated against a basket of currencies. The immediate support will be pegged around US$1,150.

Bursa Malaysia Trade Statistics - 24Sep18
Institutions:  Net BUY 21.1 mln (55.3%)
Retail:  Net SELL 10.5 mln (24.6%)
Foreign:  Net SELL 10.6 mln (20.1%)

Potential Momentum Stocks - 25Sep18 
Stock Name: DELEUM (5132)
Entry: Buy above RM1.02
Target: RM1.09 (6.9%), RM1.15 (12.7%)
Stop: RM0.955 (-6.4%)
Shariah: Yes
Technical: Consolidation breakout

Stock Name: DAYANG (5141)
Entry: Buy above RM0.72
Target: RM0.78 (8.3%), RM0.835 (16.0%)
Stop: RM0.68 (-5.6%)
Shariah: Yes
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

 

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