KLSE Traders Update and Ideas

Daily Market Update - 30 Oct 2018 (GHLSYS, KTC)

mplus313
Publish date: Tue, 30 Oct 2018, 08:37 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,442.92 pts (-245.39pts, -0.99%)
U.S. stockmarkets erased all its intraday gains as the Dow slipped 1.0% after U.S President Donald Trump looks to impose tariffs on the remainder of Chinese good, should next month's negotiation fails. The immediate resistance is located at 25,000.

FBM KLCI: 1,683.73 pts (+0.67pts, +0.04%)
The FBM KLCI (+0.04%) managed to eke out marginal gains after enduring a choppy trading session, lifted by the eleventh hour buying support in selected index heavyweights. The immediate support is located at 1,670.

Crude Palm Oil: RM2,187 (+RM39, +1.82%)
Crude palm oil prices rebounded on optimism over recovery in export demand. The immediate support is located around RM2,200.

WTI Crude Oil: $67.04 (-$0.55, -0.81%)
Crude oil prices retreated amid concern over rising uncertainty over trade dispute between U.S. and China. The immediate resistance is located at US$70.

Gold: $1,229.42 (-$4.11, -0.33%)
Gold prices retreated after the Greenback appreciated against a basket of currencies. The immediate resistance is located around $1,250.

Economic Releases:
JP - Japan's Unemployment Rate, 7.30AM
EU - Eurozone's Business Confidence, 6.00PM
EU - Eurozone's Economic Sentiment, 6.00PM
EU - Eurozone's Industrial Sentiment, 6.00PM

Bursa Malaysia Trade Statistics - 29 Oct 18
Institutions:  Net BUY 67.7 mln (46.3%)
Retail:  Net BUY 3.7 mln (26.2%)
Foreign:  Net SELL 71.4 mln (27.5%)

Potential Momentum Stocks - 30 Oct 18 
Stock Name: GHLSYS (0021)
Entry: Buy above RM1.63
Target: RM1.75 (7.4%), RM1.86 (14.1%)
Stop: RM1.55 (-4.9%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: KTC (0180)
Entry: Buy above RM0.14
Target: RM0.155 (10.7%), RM0.165 (17.9%)
Stop: RM0.13 (-7.1%)
Shariah: No
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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