KLSE Traders Update and Ideas

Daily Market Update - 9 Nov 2018 (KGB, REACH)

mplus313
Publish date: Fri, 09 Nov 2018, 08:33 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,191.22 pts (+10.92pts, +0.04%)
U.S. stockmarkets ended on a mixed note as the Dow gained 0.04% after the U.S. Federal Reserve kept its benchmark interest rates unchanged, but the S&P 500 fell 0.3%. The immediate resistance is located at 26,500.

FBM KLCI: 1,721.42 pts (+6.54pts, +0.38%)
The FBM KLCI (+0.4%) marched higher after the key index gapped up in tandem with the mostly positive sentiment across regional peers yesterday. The immediate resistance is located at 1,730.

Crude Palm Oil: RM2,085 (-RM26, -1.23%)
Crude palm oil prices trended lower for the third straight session, dragged down by lingering concern over rising supply. The immediate support is located around RM2,100.

WTI Crude Oil: $60.67 (-$1.00, -1.62%)
Crude oil prices recorded its ninth straight session of decline on mounting concern over rising U.S. supply and inventory level. The immediate support is located at US$60.

Gold: $1,224.00 (-$2.49, -0.20%)
Gold prices extended its losses after the U.S. Federal Reserve kept the benchmark interest rates unchanged. The immediate resistance is located around $1,250.

Economic Releases:
CN - China's Inflation Rate, 9.30AM
CN - China's Producer Price Index, 9.30AM
MY - Malaysia's Industrial Production, 12.00PM
MY - Malaysia's Retail Sales, 12.00PM
MY - Malaysia's Unemployment Rate, 12.00PM
UK - United Kingdom's Manufacturing Production, 5.30PM
UK - United Kingdom's Industrial Production, 5.30PM

Potential Momentum Stocks - 9 Nov 18 
Stock Name: KGB (0151)
Entry: Buy above RM1.15
Target: RM1.28 (11.3%), RM1.35 (17.4%)
Stop: RM1.06 (-7.8%)
Shariah: Yes
Technical: Trendline breakout

Stock Name: REACH (5256)
Entry: Buy above RM0.40
Target: RM0.45 (12.5%), RM0.47 (17.5%)
Stop: RM0.37 (-7.5%)
Shariah: Yes
Technical: Consolidation breakout

Source: Bloomberg, M+ Online
Bursa Malaysia Trade Statistics will not be available until further notice from Bursa Malaysia

 

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