KLSE Traders Update and Ideas

Daily Market Update - 9 Oct 2018 (IRIS, OMESTI)

mplus313
Publish date: Tue, 09 Oct 2018, 08:34 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,486.78 pts (+39.73pts, +0.15%)
U.S. finished mixed overnight as the Dow rose 0.2% after recovering all its intraday losses, but the S&P 500 fell 0.04%, dragged down by the weakness in technology sector (-1.2%). The immediate resistance is located at 26,600.

FBM KLCI: 1,775.75 pts (-1.40pts, -0.08%)
The FBM KLCI edged lower for the third straight session as selloff in global equities remain unabated. The immediate support is located at 1,770.

Crude Palm Oil: RM2,187 (-RM34, -1.53%)
Crude palm oil extended its losses, taking cue from the lower soybean oil prices. The immediate resistance is located around RM2,250.

WTI Crude Oil: $74.29 (-$0.05, -0.07%)
Crude oil prices trended marginally lower as concern over supply shortage from Iran eased. The immediate resistance is located at US$77.

Gold: $1,188.08 (-$15.55, -1.29%)
Gold prices retreated after the Greenback appreciated against a basket of currencies. The immediate resistance is located around $1,200.

Bursa Malaysia Trade Statistics - 8 Oct 18
Institutions:  Net BUY 110.7 mln (49.0%)
Retail:  Net BUY 116.5 mln (27.9%)
Foreign:  Net SELL 227.2 mln (23.1%)

Potential Momentum Stocks - 9 Oct 18 
Stock Name: IRIS (0010)
Entry: Buy above RM0.16
Target: RM0.18 (12.5%), RM0.19 (18.8%)
Stop: RM0.145 (-9.4%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: OMESTI (9008)
Entry: Buy above RM0.43
Target: RM0.47 (9.3%), RM0.49 (14.0%)
Stop: RM0.40 (-7.0%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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