KLSE Traders Update and Ideas

Daily Market Update - 15 Nov 2016 (RGB, EG)

mplus313
Publish date: Tue, 15 Nov 2016, 09:14 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 18,868.69 pts (+21.03pts, +0.11%)
U.S. stockmarkets ended on a mixed note overnight as the Dow advanced for the sixth straight session but the S&P 500 slipped 0.01%.

FBM KLCI: 1,616.64 pts (-17.55pts, -1.07%)
The local bourse started off the week on a negative tone after the key index tanked below the 1,630 support level. The next support level is pegged at the 1,610 level.

Crude Palm Oil: RM2,852 (-RM122, -4.10%)
Crude palm oil prices halted a five straight sessions of gains on concern over slower demand. The RM2,800 level will serve as the immediate support level.

WTI Crude Oil: $43.32 (-$0.09, -0.21%)
Crude oil prices found some support above the US$43 per barrel level. Crude oil prices might continue to hover between US$43-US$46 levels.

Gold: $1,221.35 (-$6.29, -0.51%)
Gold prices recovered from a three-day selldown on concern over the sustainability of the rally in Wall Street. Gold prices might trade at a rangebound mode between US$1,200-US$1,250.

Economic Releases:
Eurozone - Eurozone 3Q2016 GDP Rate - 15 Nov 16, 6.00PM
US - US' October Retail Sales Data - 15 Nov 16, 9.30PM

Bursa Malaysia Trade Statistics - 14 Nov 16
Institutions:  Net BUY 189.8 mln (53.5%)
Retail:  Net BUY 63.9 mln (13.4%)
Foreign:  Net SELL 253.7 mln (33.1%)

Potential Momentum Stocks - 15 Nov 16 
Stock Name: RGB (0037)
Entry: Buy above RM0.235
Target: RM0.25 (6.4%), RM0.265 (12.8%)
Stop: RM0.23 (-2.1%)
Shariah: No
Technical: Flag-formation breakout

Stock Name: EG (8907)
Entry: Buy above RM0.845
Target: RM0.895 (5.9%), RM0.935 (10.7%)
Stop: RM0.82 (-3.0%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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