KLSE Traders Update and Ideas

Daily Market Update - 27 Sept 2016 (ELSOFT, MMSV)

mplus313
Publish date: Tue, 27 Sep 2016, 08:53 AM
mplus313
0 3,776
This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 18,094.83 pts (-166.62pts, -0.91%)
Wall Street dived for another session ahead of the presidential debate, coupled with selling pressure among banking stocks. The Dow may retrace back towards the 18,000 level.

FBM KLCI: 1,669.50 pts (-1.49pts, -0.09%)
The FBM KLCI pulled back below the 1,670 level as profit taking activities picked up in selected heavyweights and the broader market. Next support will be set around the 1,660 level.

Crude Palm Oil: RM2,715 (+RM39, +1.46%)
Crude palm oil price traded higher after India's palm oil duty cut from 12.5% to 7.5%; CPO price may rally towards the RM2,750 level.

WTI Crude Oil: $45.93 (+$1.45, +3.24%)
Crude oil rebounded, but still ranging between the US$43-US$46 levels. Price may extend its sideways consolidation mode over the near term.

Gold: $1,337.95 (+$0.39, +0.03%)
Gold trended sideways between a thin range over the past few trading days. Based on the technicals, price may breakout above the US$1,350 level, targeting the US$1,375 level.

Economic Releases:
US - S&P Case-Shiller 20-House Price Index - 27Sep16, 9:00PM
US - Flash Services PMI - 27Sep16, 9:45PM

Bursa Malaysia Trade Statistics - 26Sep16
Institutions:  Net SELL 34.7 mln (63.0%)
Retail:  Net SELL 15.3 mln (20.0%)
Foreign:  Net BUY 50.0 mln (17.0%)

Potential Momentum Stocks - 27Sep16 
Stock Name: ELSOFT (0090)
Entry: Buy above RM1.85
Target: RM2.00 (8.1%), RM2.10 (13.5%)
Stop: RM1.76 (-4.9%)
Shariah: Yes
Technical: Sideways consolidation mode

Stock Name: MMSV (0113)
Entry: Buy above RM0.69
Target: RM0.73 (5.8%), RM0.77 (11.6%)
Stop: RM0.665 (-3.6%)
Shariah: Yes
Technical: Potential short term breakout

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.

Related Stocks
Market Buzz
Discussions
Be the first to like this. Showing 1 of 1 comments

Lee Richard

Elsoft finally at take off..., flying and soaring high toward 2.00

2016-09-28 12:02

Post a Comment