KLSE Traders Update and Ideas

Daily Market Update - 6 Jun 2016 (YOCB, XINHWA)

mplus313
Publish date: Mon, 06 Jun 2016, 09:11 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 17,807.06 pts (-31.50pts, -0.18%)
U.S. stockmarkets ended slightly lower as employers in U.S. added 38,000 workers (vs. estimated figure of 160,000) in May and this might slow down the process of hiking the interest rates by the Fed.

FBM KLCI: 1,636.46 pts (+5.93pts, +0.36%)
The FBM KLCI has ended above the 1,630 level, suggesting that the technical rebound may persist over the near term towards the 1,660 level. 

Crude Palm Oil: RM2,666 (+RM23, +0.87%)
Crude palm oil prices extended their gains to close higher amid the continued demand ahead of the Ramadan fasting month. CPO may retest the resistance of RM2,700.

WTI Crude Oil: $48.62 (-$0.55, -1.12%)
Following the OPEC meeting, traders stayed sidelined as crude oil prices rangebound between the US$46-US$50 levels. Meanwhile, oil rigs rose by 9 to 325, according to Baker Hughes Inc.

Gold: $1,244.20 (+$33.20, +2.75%)
After gold price was being supported near the US$1,200 level, it experienced a strong breakout above the US$1,220 level amid weaker-than-expected jobs data.

Bursa Malaysia Trade Statistics - 03 Jun 16
Institutions:  Net BUY 124.7 mln (56.6%)
Retail:  Net SELL 20.7 mln (14.9%)
Foreign:  Net SELL 104.0 mln (28.5%)

Potential Momentum Stocks - 06 Jun 16 
Stock Name: YOCB (5159)
Entry: Buy above RM1.10
Target: RM1.16 (5.5%), RM1.24 (12.7%)
Stop: RM1.06 (-3.6%)
Technical: Bullish engulfing candle

Stock Name: XINHWA (5267)
Entry: Buy around RM1.060
Target: RM1.13 (6.6%), RM1.17 (10.4%)
Stop: RM1.00 (-5.7%)
Technical: Breakout above EMA120

Source: Bloomberg, M+ Online

 

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