KLSE Traders Update and Ideas

Daily Market Update - 14 Nov 2016 (RSAWIT, KAREX)

mplus313
Publish date: Mon, 14 Nov 2016, 09:32 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 18,847.66 pts (+39.78pts, +0.21%)
The Dow notched another record closing after extending its gains for the fifth straight session on last Friday, buoyed by gains in financial shares

FBM KLCI: 1,634.19 pts (-18.55pts, -1.12%)
As the FBM KLCI has breached the 1,645 immediate support level, we might see further pullback on the key index towards the 1,630 support level

Crude Palm Oil: RM2,974 (+RM80, +2.76%)
Crude palm oil prices jumped to its highest level in 4 years, owing to the weakness in Ringgit Malaysia against the US Dollars. The immediate resistance is located around the RM3,000 level

WTI Crude Oil: $43.41 (-$1.25, -2.80%)
Crude oil extended its losses on last Friday after US has reported an increase in the number of oil rigs. Crude oil prices might continue to hover between US$43-US$46 levels.

Gold: $1,227.64 (-$31.56, -2.51%)
Gold prices continue to trend on a negative tone, breaching below the US$1,250 support level, amidst the renewed buying interest in riskier assets. Support will be set around US$1,200.

Economic Releases:
China - China Retail Sales - 14 Nov 16, 10:00AM
Eurozone - Eurozone Industrial Production Index - 14 Nov 16, 6:00PM

Bursa Malaysia Trade Statistics - 11 Nov 16
Institutions:  Net BUY 605.1 mln (59.7%)
Retail:  Net BUY 85.8 mln (13.3%)
Foreign:  Net SELL 690.9 mln (27.0%)

Potential Momentum Stocks - 14 Nov 16 
Stock Name: RSAWIT (5113)
Entry: Buy above RM0.505
Target: RM0.535 (5.9%), RM0.585 (15.8%)
Stop: RM0.485 (-4.0%)
Shariah: Yes
Technical: Breakout-pullback-continuation pattern

Stock Name: KAREX (5247)
Entry: Buy above RM2.520
Target: RM2.640 (4.8%), RM2.740 (8.7%)
Stop: RM2.450 (-2.8%)
Shariah: No
Technical: Short-term consolidation breakout

Source: Bloomberg, M+ Online

 

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