KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Tue, 13 Oct 2020, 5:16 PM


Daily Market Update - 12 Oct 2020

Author:   |    Publish date:

Dow Jones: 28,586.90 pts (+161.39pts, +0.57%)
⬆ Resistance:  29300
⬇ Support:  27200

FBM KLCI: 1,530.35 pts (+10.92pts, +0.72%)
⬆ Resistance:  1570
⬇ Support:  1460

HSI Index: 24,119.13 pts (-74.22pts, -0.31%)
⬆ Resistance:  24900
⬇ Support:  23300

Crude Palm Oil: RM2,911 (+RM23, +0.80%)
⬆ Resistance:  3010
⬇ Support:  2640

Brent Oil: $42.85 (-$0.49, -1.13%)
⬆ Resistance:  44.50
⬇ Support:  38.40

Gold: $1,930.40 (+$36.58, +1.93%)
⬆ Resistance:  1970
⬇ Support:  1840

Source: Bloomberg, M+ Online

M+ Online Technical Focus - 10 Oct 20
*Innature Bhd: Mitigated by e-commerce surge *

Trading Catalyst
• One of the leading regional retailers of cosmetics and personal care ("CPC") products, under the brand; The Body Shop and Natura.
• Operates a total of 121 retail stores across West Malaysia, Sabah, Labuan, Vietnam and Cambodia with products also sold via selected third-party online stores such as Hermo, Tiki, Lazada and Shopee.
• Surge in e-commerce channel will continue to cushion the weakness from the retail stores channel over the foreseeable future.
• Technically, a flag-formation breakout above RM0.44 suggests for further upside that may drive share price towards the next resistances at RM0.475-RM0.495 with long term target at RM0.505.

Technical View

(i) INNATURE (S: RM0.425, R: RM0.475-0.495, LT TP:RM0.525, CL:RM0.42)

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

Source: Bloomberg, M+ Online

Economic Releases For The Week (12/10/2020-16/10/2020):

JP - Japan's Machinery Orders, 7.50AM
JP - Japan's Producer Price Index, 7.50AM
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 Unemployment Rate, 4.30PM
EU - Eurozone's ZEW Economic Sentiment Index, 5.00PM
US - United States' Inflation Rate, 8.30PM

JP - Japan's Industrial Production, 12.30PM
EU - Eurozone's Industrial Production, 5.00PM
US - United States' Producer Price Index, 8.30PM

CN - China's Inflation Rate, 9.30AM
CN - China's Producer Price Index, 9.30AM

EU - Eurozone's Inflation Rate, 5.00PM
US - United States' Retail Sales, 8.30PM
US - United States' Industrial Production, 9.15PM
US - United States' Manufacturing Production, 9.15PM



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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