KLSE Traders Update and Ideas

Daily Market Update - 26 Sept 2018 (CCK, KRONO)

mplus313
Publish date: Wed, 26 Sep 2018, 08:46 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,492.21 pts (-69.84pts, -0.26%)
U.S. stockmarkets extended their losses overnight as the Dow fell 0.3% ahead of the U.S. Federal Reserve monetary policy decision. The immediate resistance is located at 27,000.

FBM KLCI: 1,794.47 pts (-5.70pts, -0.32%)
Tracking the renewed weakness on Wall Street overnight, the FBM KLCI (-0.3%) trended lower as the key index tripped below the 1,800 psychological level yesterday. The immediate resistance is located at 1,830.

Crude Palm Oil: RM2,181 (+RM18, +0.83%)
Crude palm oil prices extended its gains, lifted by the improved demand, coupled with the weaker Ringgit against the Greenback. The immediate support is located around RM2,100.

WTI Crude Oil: $72.28 (+$0.20, +0.28%)
Crude oil prices extended its gains, boosted by expectations over tighter supply. The immediate resistance is located at US$75.

Gold: $1,201.22 (+$2.19, +0.18%)
Gold prices rebounded to close 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:
US - United States' New Home Sales, 10.00PM

Bursa Malaysia Trade Statistics - 25Sep18
Institutions:  Net SELL 210.8 mln (56.3%)
Retail:  Net BUY 11.4 mln (22.4%)
Foreign:  Net BUY 199.4 mln (21.3%)

Potential Momentum Stocks - 26Sep18 
Stock Name: CCK (7035)
Entry: Buy above RM0.87
Target: RM0.935 (7.5%), RM0.97 (11.5%)
Stop: RM0.815 (-6.3%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: KRONO (0176)
Entry: Buy above RM0.72
Target: RM0.805 (11.8%), RM0.86 (19.4%)
Stop: RM0.65 (-9.7%)
Shariah: Yes
Technical: Bullish engulfing candle

Source: Bloomberg, M+ Online

 

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