KLSE Traders Update and Ideas

Daily Market Update - 3 Jun 2016 (SIGN, CRESBLD)

mplus313
Publish date: Fri, 03 Jun 2016, 09:33 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 17,838.56 pts (+48.89pts, +0.27%)
U.S. stockmarkets recouped morning session's losses and ended above the EMA20 level and S&P 500 ended at 7-months high ahead of Friday's jobs data.

FBM KLCI: 1,630.53 pts (+4.03pts, +0.25%)
The FBM KLCI was traded higher above the 1,630 level, indicating that the index may rebound higher towards the 1,640-1,660 levels over the near term.

Crude Palm Oil: RM2,643 (+RM45, +1.73%)
Crude palm oil prices trended positively as Malaysia will continue with B10 biodiesel program even under the weak oil environment, according to acting Minister for Plantation Industries and Commodities, Nancy Shukri.

WTI Crude Oil: $49.17 (+$0.16, +0.33%)
Crude oil prices were slightly higher as OPEC decided to stick with its current output ceiling and the price continues to trend between a sideways range of US$46-US$50.

Gold: $1,211.00 (-$1.98, -0.16%)
Profit taking activities continue to persist  as traders are losing interest in gold ahead of the Fed meeting this month.

Economic Releases:
China - Caixin China Services PMI - 3 Jun 16, 9:45AM
Malaysia - Malaysia External Trade Balance - 3 Jun 16, 12:00PM
Malaysia - Malaysia External Trade Gross Exports - 3 Jun 16, 12:00PM
Eurozone - Markit Eurozone Services PMI - 3 Jun 16, 4:00PM
US - US Employees on Nonfarm Payroll - 3 Jun 16, 8:30PM

Bursa Malaysia Trade Statistics - 02 Jun 16
Institutions:  Net BUY 149.7 mln (54.8%)
Retail:  Net SELL 21.6 mln (16.0%)
Foreign:  Net SELL 128.1 mln (29.2%)

Potential Momentum Stocks - 03Jun16 
Stock Name: SIGN (7246)
Entry: 0RM1.120
Target: RM1.20 (7.1%), RM1.34 (19.6%)
Stop: RM1.08 (-3.6%)
Technical: Potential short term breakout

Stock Name: CRESBLD (8591)
Entry: Buy around RM0.95
Target: RM1.03 (8.4%), RM1.11 (16.8%)
Stop: RM0.915 (-3.7%)
Technical: Bullish breakout

Source: Bloomberg, M+ Online

 

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