KLSE Traders Update and Ideas

Daily Market Update - 4 Oct 2018 (SIGGAS, GTRONIC)

mplus313
Publish date: Thu, 04 Oct 2018, 08:45 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,828.39 pts (+54.45pts, +0.20%)
U.S. equities closed on an upward trajectory as the Dow extended its gains, albeit capped by concerns of rising interest rates. The immediate resistance is located at 27,000.

FBM KLCI: 1,796.30 pts (-1.85pts, -0.10%)
The FBM KLCI (-0.1%) edged lower in tandem with the mostly negative performance across its regional peers yesterday. The immediate resistance is located at 1,800.

Crude Palm Oil: RM2,199 (+RM39, +1.81%)
Crude palm oil prices staged its biggest daily gain in 4 weeks, takling cue from the higher soybean oil prices. The immediate resistance is located around RM2,200.

WTI Crude Oil: $76.41 (+$1.18, +1.56%)
Crude oil prices closed higher on expectations of lower crude oil supply ahead of the U.S. sanctions on Iran. The immediate resistance is located at US$80.

Gold: $1,197.35 (-$5.97, -0.50%)
Gold prices pullback after Italy announced a lower budget deficit target, which prompted an outflow from safe-haven assets. The immediate support will be pegged around US$1,150.

Bursa Malaysia Trade Statistics - 3 Oct 18
Institutions:  Net SELL 104.6 mln (50.8%)
Retail:  Net BUY 20.8 mln (26.4%)
Foreign:  Net BUY 83.8 mln (22.8%)

Potential Momentum Stocks - 4 Oct 18 
Stock Name: SIGGAS (5181)
Entry: Buy above RM0.925
Target: RM1.00 (8.1%), RM1.07 (15.7%)
Stop: RM0.88 (-4.9%)
Shariah: Yes
Technical: Flag-formation breakout

Stock Name: GTRONIC (7022)
Entry: Buy above RM2.6
Target: RM2.76 (6.2%), RM2.90 (11.5%)
Stop: RM2.46 (-5.4%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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