KLSE Traders Update and Ideas

Daily Market Update - 11 Oct 2021

mplus313
Publish date: Mon, 11 Oct 2021, 08:54 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

M+ Online Morning Market Buzz - 11 Oct 21

Dow Jones: 34,746.25 pts (-8.69pts, -0.03%)
⬆ Resistance:  35700
⬇ Support:  33200

FBM KLCI: 1,563.90 pts (+2.61pts, +0.17%)
⬆ Resistance:  1600
⬇ Support:  1490

HSI Index: 24,837.85 pts (+136.12pts, +0.55%)
⬆ Resistance:  25600
⬇ Support:  23300

Crude Palm Oil: RM4,966 (+RM117, +2.41%)
⬆ Resistance:  5090
⬇ Support:  4400

Brent Oil: $82.39 (+$0.44, +0.54%)
⬆ Resistance:  85.20
⬇ Support:  77.20

Gold: $1,757.13 (+$1.35, +0.08%)
⬆ Resistance:  1820
⬇ Support:  1720

 

M+ Online Technical Focus - 11 Oct 21
Optimax Holdings Bhd: Mexico operations to drive growth

Trading Catalyst
• One of the leading eye specialist providers in Malaysia that is supported by 15 eye surgeons and 3 locum doctors and a team of optometrists.
• Remained on course towards its organic expansion through hiring additional surgeons and setting up more satellite clinics to improve geographical reach within the country.
• Further relaxation of standard operating procedures (SOP) under the National Recovery Plan bodes well as it would eventually increase traffic patient footfalls.
• Technically, traders may anticipate for breakout above RM1.34, targeting the next resistances at RM1.47-1.57 with long term target at RM1.66.

Technical View

(i) OPTIMAX (S: RM1.25, R: RM1.47-1.57, LT TP: RM1.66, CL: RM1.24)

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

 

Economic Releases For The Week (11/10/2021-15/10/2021):

11/10/2021
UK - United Kingdom's Manufacturing Production, 2.00PM
UK - United Kingdom's Industrial Production, 2.00PM

12/10/2021
JP - Japan's Producer Price Index, 7.50AM
MY - Malaysia's Industrial Production, 12.00PM
MY - Malaysia's Retail Sales, 12.00PM
UK - United Kingdom's Unemployment Rate, 2.00PM
EU - Eurozone's ZEW Economic Sentiment Index, 5.00PM

13/10/2021
JP - Japan's Machinery Orders, 7.50AM
EU - Eurozone's Industrial Production, 5.00PM
US - United States' Inflation Rate, 8.30PM

14/10/2021
US - United States' FOMC Minutes, 2.00AM
CN - China's Inflation Rate, 9.30AM
CN - China's Producer Price Index, 9.30AM
JP - Japan's Industrial Production, 12.30PM
US - United States' Producer Price Index, 8.30PM

15/10/2021
US - United States' Retail Sales, 8.30PM

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.

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