KLSE Traders Update and Ideas

Daily Market Update - 10 Oct 2018 (CHINWEL, CENSOF)

mplus313
Publish date: Wed, 10 Oct 2018, 08:37 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,430.57 pts (-56.21pts, -0.21%)
Wall Street edged lower overnight as the Dow fell 0.2% after the International Monetary Fund trimmed global growth forecast. The immediate resistance is located at 26,600.

FBM KLCI: 1,774.15 pts (-1.60pts, -0.09%)
The FBM KLCI registered its fourth straight session of decline yesterday in tandem with the weakness across regional peers. The immediate support is located at 1,770.

Crude Palm Oil: RM2,205 (+RM18, +0.82%)
Crude palm oil rebounded to re-claim the RM2,200 psychological level, boosted by improved demand after the Ringgit depreciated against the Greenback. The immediate resistance is located around RM2,250.

WTI Crude Oil: $74.96 (+$0.67, +0.90%)
Crude oil prices extended its gains after Hurricane Michael caused temporary oil production halt in the Gulf of Mexico. The immediate resistance is located at US$77.

Gold: $1,189.77 (+$1.69, +0.14%)
Gold prices advanced as demand of safe haven assets improved. The immediate resistance is located around $1,200.

Economic Releases:
UK - United Kingdom's Manufacturing Production, 4.30PM
UK - United Kingdom's Industrial Production, 4.30PM
US - United States' Producer Price Index, 8.30PM

Bursa Malaysia Trade Statistics - 9 Oct 18
Institutions:  Net BUY 88.6 mln (44.8%)
Retail:  Net BUY 36.1 mln (27.4%)
Foreign:  Net SELL 124.7 mln (27.8%)

Potential Momentum Stocks - 10 Oct 18 
Stock Name: CHINWEL (5007)
Entry: Buy above RM1.86
Target: RM2.00 (7.5%), RM2.10 (12.9%)
Stop: RM1.79 (-3.8%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: CENSOF (5195)
Entry: Buy above RM0.185
Target: RM0.21 (13.5%), RM0.22 (18.9%)
Stop: RM0.175 (-5.4%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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