KLSE Traders Update and Ideas

Daily Market Update - 8 Sept 2021

mplus313
Publish date: Wed, 08 Sep 2021, 08:43 AM
mplus313
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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 - 8Sep21

Dow Jones: 35,100.00 pts (-269.09pts, -0.76%)
⬆ Resistance:  36200
⬇ Support:  34400

FBM KLCI: 1,583.48 pts (+1.89pts, +0.12%)
⬆ Resistance:  1640
⬇ Support:  1550

HSI Index: 26,353.63 pts (+190.00pts, +0.73%)
⬆ Resistance:  27000
⬇ Support:  25200

Crude Palm Oil: RM4,390 (+RM59, +1.36%)
⬆ Resistance:  4490
⬇ Support:  4070

Brent Oil: $71.69 (-$0.53, -0.73%)
⬆ Resistance:  75.20
⬇ Support:  69.10

Gold: $1,794.36 (-$28.93, -1.59%)
⬆ Resistance:  1880
⬇ Support:  1760

 

M+ Online Technical Focus - 8Sep21
TCS Group Holdings Bhd: Better days ahead

Trading Catalyst
• Principally involved in the construction of building and civil works with notable clients such as Sime Darby Property Bhd, Mah Sing Group Bhd, IJM Corporation Bhd, SP Setia Bhd, Tropicana Corporation Bhd and Worldwide Holdings Bhd.
• Outstanding orderbook of RM1.57bn, representing an orderbook-to-cover ratio of 6.5x against FY20 revenue of RM242.6m to provide earnings visibility over the next 3 years. 
• Recovery in the cards on works resumption in the construction sector that was largely affected by works disruption from MCO 3.0 and FMCO.
• Technically, price has formed a short-term consolidation breakout above RM0.46, targeting the next resistances at RM0.495-0.515 with long term target set at RM0.56.

Technical View

(i) TCS (S: RM0.445, R: RM0.495-0.515, LT TP: RM0.56, CL: RM0.44)

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

Source: Bloomberg, M+ Online

 

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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.

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