KLSE Traders Update and Ideas

Daily Market Update - 10 Oct 2016 (GCB, EVERGRN)

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Publish date: Mon, 10 Oct 2016, 08:59 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 18,240.49 pts (-28.01pts, -0.15%)
Wall Street continues to stay within the range between the 18,000-18,400 levels as traders and investors are still cautious on the outcome for U.S. presidential election.

FBM KLCI: 1,665.38 pts (-1.35pts, -0.08%)
Despite a mild pullback on Friday, the FBM KLCI maintained its position above the 1,660 level. Upside target will be envisaged around the 1,680 level.

Crude Palm Oil: RM2,561 (-RM18, -0.70%)
Crude palm oil retested the RM2,600 level and ended lower on Friday, price may consolidate further around the RM2,500 level.

WTI Crude Oil: $49.81 (-$0.63, -1.24%)
Crude oil revisited the US$50 per barrel mark and profit taking activities emerged amid a rise in U.S. rigs, price may pullback towards the US$46 level on the back of profit taking activities. 

Gold: $1,257.08 (+$2.70, +0.22%)
Gold rebounded near the US$1,250 level forming a potential recovery pattern towards the US$1,300 level. 

Bursa Malaysia Trade Statistics - 7 Oct 16
Institutions:  Net BUY 118.1 mln (63.0%)
Retail:  Net SELL 24.7 mln (13.4%)
Foreign:  Net SELL 93.4 mln (23.6%)

Potential Momentum Stocks - 10 Oct 16 
Stock Name: GCB (5102)
Entry: Buy above RM1.05
Target: RM1.16 (10.5%), RM1.20 (14.3%)
Stop: RM1.02 (-2.9%)
Shariah: No
Technical: Flag formation breakout

Stock Name: EVERGRN (5101)
Entry: Buy above RM0.96
Target: RM1.06 (10.4%), RM1.10 (14.6%)
Stop: RM0.905 (-5.7%)
Shariah: Yes
Technical: Potential sideways consolidation breakout

Source: Bloomberg, M+ Online

 

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Ah Hai Jai

tock Name: EVERGRN (5101)
Entry: Buy above RM0.96
Target: RM1.06 (10.4%), RM1.10 (14.6%)
Stop: RM0.905 (-5.7%)
Shariah: Yes

2016-10-10 13:59

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