KLSE Traders Update and Ideas

Daily Market Update - 29 Aug 2016 (SEM, HARBOUR)

mplus313
Publish date: Mon, 29 Aug 2016, 09:12 AM
mplus313
0 3,803
This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 18,395.40 pts (-53.01pts, -0.29%)
U.S. stockmarkets ended below the EMA20 level as traders anticipated that an interest hike might be coming in the upcoming FOMC meeting. The key index's support will be pegged around 18,000.

FBM KLCI: 1,683.09 pts (+2.79pts, +0.17%)
On the weekly basis, the FBM KLCI trended sideways around the 1,680 level without significant catalyst in the market. The trading range of the FBM KLCI will be located around 1,660-1,700 levels.

Crude Palm Oil: RM2,552 (-RM9, -0.35%)
Crude palm oil prices closed lower on the back of softer soybean oil market. Next support will be anchored around RM2,500 level.

WTI Crude Oil: $47.64 (+$0.31, +0.65%)
Crude oil stabilised above the US$46 level, short term recovery may be seen towards the US$50 level.

Gold: $1,321.18 (-$0.79, -0.06%)
Gold ended marginally lower and hovering below US$1,350. Further pullback might be seen towards the US$1,300 level.

Bursa Malaysia Trade Statistics - 26 Aug 16
Institutions:  Net BUY 2.3 mln (54.2%)
Retail:  Net BUY 3.6 mln (20.4%)
Foreign:  Net SELL 5.9 mln (25.4%)

Potential Momentum Stocks - 29 Aug 16 
Stock Name: SEM (5250)
Entry: Buy above RM1.52
Target: RM1.70 (11.8%), RM1.75 (15.1%)
Stop: RM1.42 (-6.6%)
Shariah: No
Technical: Potential short term breakout

Stock Name: HARBOUR (2062)
Entry: Buy above RM1.04
Target: RM1.15 (10.6%), RM1.24 (19.2%)
Stop: RM0.98 (-5.8%)
Shariah: No
Technical: Rebound phase

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.

More articles on KLSE Traders Update and Ideas
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment