KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Fri, 19 Oct 2018, 05:23 PM


Daily Market Update - 21 Apr 2017 (PRESTAR, MUDAJYA)

Author:   |    Publish date:

Dow Jones: 20,578.71 pts (+174.22pts, +0.85%)
U.S. stocks surged after the Treasury Secretary hinted the President Trump’s tax cut proposals would be unveiled soon. At the same time, better results from American Express helped to also shore up sentiments.  Both the Dow and S&P 500 rose 0.8% respectively, while the Nasdaq climbed 0.9%. 

FBM KLCI: 1,741.61 pts (+2.66pts, +0.15%)
The FBM KLCI closed higher in tandem with the positive regional performance, casting aside the weakness in other regions. The key index’s gains, however, were relatively benign - just 0.15%, with the key index managing to climb back above the 1,740 points level.

Crude Palm Oil: RM2,504 (+RM39, +1.58%)
Crude palm oil prices posted its biggest gain in April on potentially higher exports. Support remains at around RM2,400, while resistance is at RM2.550

WTI Crude Oil: $50.71 (+$0.27, +0.54%)
Crude oil prices remain lackluster after Saudi Arabia said that OPEC's production cuts have not been effective 

Gold: $1,281.90 (+$1.69, +0.13%)
Gold prices rebounded amid the rising geopolitical concerns 

Economic Releases:
US - Markit Manufacturing and Services PMI (Apr)
US - Existing home sales (Mar)
EU - Markit Euronzone Manufacturing & Services PMI (Apr)
EU - Markit Germany, France Manufacturing PMI (Apr)
MY - Foreign Reserves (Apr)

Bursa Malaysia Trade Statistics - 20 Apr 17
Institutions:  Net BUY 8.5 mln (62.1%)
Retail:  Net SELL 8.8 mln (18.2%)
Foreign:  Net BUY 0.3 mln (19.7%)

Potential Momentum Stocks - 21 Apr 17 
Stock Name: PRESTAR (9873)
Entry: Buy above RM0.940
Target: RM0.970 (3.2%), RM1.020 (8.5%)
Stop: RM0.895 (-4.8%)
Shariah: Yes
Technical: Triangle breakout momentum trade

Stock Name: MUDAJYA (5085)
Entry: Buy above RM1.130
Target: RM1.170 (3.5%), RM1.260 (11.5%)
Stop: RM1.090 (-3.5%)
Shariah: No
Technical: Rebound momentum trade



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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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Related Stocks

Chart Stock Name Last Change Volume 
PRESTAR 0.685 -0.005 (0.72%) 80,000 
MUDAJYA 0.31 -0.005 (1.59%) 546,200 

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