KLSE Traders Update and Ideas

Daily Market Update - 8 Oct 2018 (GDEX, YTLREIT)

mplus313
Publish date: Mon, 08 Oct 2018, 08:49 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,447.05 pts (-180.43pts, -0.68%)
U.S. remain under pressure as the Dow fell 0.7% on last Friday amid a mixed bag of economic data, coupled with the rising bond yield deviate investors' interest to less risky assets. The immediate resistance is located at 26,000.

FBM KLCI: 1,777.15 pts (-12.96pts, -0.72%)
The FBM KLCI trended lower for the third straight session alongside with the weakness across regional peers. The immediate support is located at 1,770.

Crude Palm Oil: RM2,221 (-RM9, -0.40%)
Crude palm oil snapped a three-day winning streak on lingering concern over rising stockpile. The immediate resistance is located around RM2,250.

WTI Crude Oil: $74.34 (+$0.01, +0.01%)
Crude oil prices closed on a flattish note after U.S. reported that it could allow some imports from Iran to continue. The immediate resistance is located at US$77.

Gold: $1,203.63 (+$3.71, +0.31%)
Gold prices extended its gains, lifted by improved demand in safe haven assets. The immediate resistance is located around $1,200.

Economic Releases:
CN - China's Caixin Services PMI, 9.45AM
CN - China's Caixin Composite PMI, 9.45AM

Bursa Malaysia Trade Statistics - 5 Oct 18
Institutions:  Net BUY 165.9 mln (48.7%)
Retail:  Net BUY 43.4 mln (24.6%)
Foreign:  Net SELL 209.3 mln (26.7%)

Potential Momentum Stocks - 8 Oct 18 
Stock Name: GDEX (078)
Entry: Buy above RM0.44
Target: RM0.47 (6.8%), RM0.51 (15.9%)
Stop: RM0.415 (-5.7%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: YTLREIT (5109)
Entry: Buy above RM1.24
Target: RM1.30 (4.8%), RM1.35 (8.9%)
Stop: RM1.21 (-2.4%)
Shariah: No
Technical: Symmetrical triangle formation breakout

Source: Bloomberg, M+ Online

 

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