KLSE Traders Update and Ideas

Daily Market Update - 1 Oct 2018 (KOBAY, REV)

mplus313
Publish date: Mon, 01 Oct 2018, 08:35 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,458.31 pts (+18.38pts, +0.07%)
U.S. stockmarkets finished mostly higher on last Friday as the Dow (+0.1%) extended its gains amid a mixed bag of economic data. The immediate resistance is located at 27,000.

FBM KLCI: 1,793.15 pts (-5.49pts, -0.31%)
The FBM KLCI ended the month on a negative note as the key index fell 0.3% last Friday and consequently declined 1.5% M.o.M. The immediate resistance is located at 1,830.

Crude Palm Oil: RM2,174 (+RM8, +0.37%)
Crude palm oil prices recovered all its intraday losses as the recent slump in prices attracts potential demand. The immediate resistance is located around RM2,200.

WTI Crude Oil: $73.25 (+$1.13, +1.57%)
Crude oil prices extended its gains on supply threat from Nigerian workers strike. The immediate resistance is located at US$75.

Gold: $1,190.88 (+$8.05, +0.68%)
Gold prices rebounded after the Greenback retreated against a basket of currencies. The immediate support will be pegged around US$1,150.

Economic Releases:
JP - Japan's Nikkei Manufacturing PMI, 8.30AM
MY - Malaysia's Nikkei Manufacturing PMI, 8.30AM
EU - Eurozone's Markit Manufacturing PMI, 4.00PM
EU - Eurozone's Unemployment Rate, 5.00PM
US - United States' Markit Manufacturing PMI, 9.45PM
US - United States' ISM Manufacturing PMI, 10.00PM

Bursa Malaysia Trade Statistics - 28Sep18
Institutions:  Net BUY 48.0 mln (50.7%)
Retail:  Net SELL 37.1 mln (18.3%)
Foreign:  Net SELL 10.9 mln (31.0%)

Potential Momentum Stocks - 1 Oct 18
Stock Name: KOBAY (6971)
Entry: Buy above RM1.49
Target: RM1.60 (7.4%), RM1.70 (14.1%)
Stop: RM1.42 (-4.7%)
Shariah: Yes
Technical: Symmetrical triangle formation breakout

Stock Name: REV (0173)
Entry: Buy above RM0.315
Target: RM0.355 (12.7%), RM0.38 (20.6%)
Stop: RM0.28 (-11.1%)
Shariah: No
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

 

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