KLSE Traders Update and Ideas

Daily Market Update - 4 Nov 2016 (SASBADI, TMCLIFE)

mplus313
Publish date: Fri, 04 Nov 2016, 08:46 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 17,930.67 pts (-28.97pts, -0.16%)
Wall Street headed for another round of negative closing amid the uncertain U.S. election polls, coupled with lower crude oil prices. The Dow has violated the 18,000 psychological level, next support will be set around 17,500.

FBM KLCI: 1,648.08 pts (-11.52pts, -0.69%)
Follow-through selling interest was noted on the FBM KLCI after it has breached below the 1,660 level. Next support will be located around 1,645.

Crude Palm Oil: RM2,774 (+RM16, +0.58%)
Crude palm oil extended its rebound for another session and may retest the RM2,800 level.

WTI Crude Oil: $44.66 (-$0.68, -1.50%)
Crude oil continues to trade below the US$45 level as traders concern that the global supply glut may be increasing. 

Gold: $1,302.70 (+$5.89, +0.45%)
Gold trended on a positive tone as market volatility heightened and may retest the US$1,350 level over the near term. 

Economic Releases:
Eurozone - Markit Eurozone Services PMI - 4 Nov 16, 5:00PM
Eurozone - Eurostat PPI Eurozone Industry - 4 Nov 16, 6:00PM
US - US Employees on Nonfarm Payroll - 4 Nov 16, 8:30PM

Bursa Malaysia Trade Statistics - 3 Nov 16
Institutions:  Net BUY 252.1 mln (65.7%)
Retail:  Net BUY 7.6 mln (10.9%)
Foreign:  Net SELL 259.7 mln (23.4%)

Potential Momentum Stocks - 4 Nov 16 
Stock Name: SASBADI (5252)
Entry: Buy above RM1.46
Target: RM1.60 (9.6%), RM1.65 (13.0%)
Stop: RM1.38 (-5.5%)
Shariah: Yes
Technical: Sideways consolidating above EMA9

Stock Name: TMCLIFE (0101)
Entry: Buy above RM0.965
Target: RM1.05 (8.8%), RM1.100 (14.0%)
Stop: RM0.935 (-3.1%)
Shariah: No
Technical: Price breakout above RM0.965

Source: Bloomberg, M+ Online

 

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