KLSE Traders Update and Ideas

Daily Market Update - 1 Sept 2021

mplus313
Publish date: Wed, 01 Sep 2021, 08:49 AM
mplus313
0 2,871
This blog provides market updates and trading ideas that I gather from around the web. As I am a Dealer's Representative, I watch and follow the market quite closely, and send updates to my clients regularly.

The daily market update is usually sent out to client's mobile in the morning. While the market summary is sent out in the evening.

Want to receive the daily market update straight in your mobile phone? Open a trading account: http://klse.i3investor.com/jsp/partner/my/mplus.jsp

M+ Online Morning Market Buzz - 1Sep21

Dow Jones: 35,360.73 pts (-39.11pts, -0.11%)
⬆ Resistance:  36300
⬇ Support:  34600

FBM KLCI: 1,601.38 pts (+11.22pts, +0.71%)
⬆ Resistance:  1640
⬇ Support:  1530

HSI Index: 25,878.99 pts (+339.45pts, +1.33%)
⬆ Resistance:  26600
⬇ Support:  24700

Crude Palm Oil: RM4,254 (-RM79, -1.82%)
⬆ Resistance:  4510
⬇ Support:  4160

Brent Oil: $72.99 (-$0.42, -0.57%)
⬆ Resistance:  75.20
⬇ Support:  69.10

Gold: $1,813.62 (+$3.28, +0.18%)
⬆ Resistance:  1860
⬇ Support:  1750

M+ Online Technical Focus - 1Sep21
Ge-Shen Corporation Bhd: Floor space expansion to capture rising demand

Trading Catalyst
• Equipped with 4 factories in Malaysia and Vietnam and 1 sales office in Singapore, comprising 203 injection moulding machines and 78 metal fabrication machines in 2Q21.
• Relatively large-scale expansion of additional 100,000 clean room and control rooms at Johor and Penang has boosted the manufacturing capacity in Johor and Penang by approximately 20.0% and 10.0% respectively.
• Sales growth to be underpin by sustainable demand, coupled with the upliftment of 60% workforce restrictions recently. 
• Technically, price has formed a short-term resistance breakout above RM1.67, targeting the next resistances at RM1.77-1.85 with long term target set at RM2.00.

Technical View

(i) GESHEN (S: RM1.55, R: RM1.77-1.85, LT TP: RM2.00, CL: RM1.54)

S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss

Source: Bloomberg, M+ Online

 

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.

Related Stocks
Market Buzz
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment