KLSE Traders Update and Ideas

Daily Market Update - 28 Nov 2016 (YEELEE, LBALUM)

mplus313
Publish date: Mon, 28 Nov 2016, 08:38 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 19,152.14 pts (+68.96pts, +0.36%)
U.S. stockmarkets advanced on last Friday as the Dow added 0.4%, led by gains in consumer staples and technology shares as the benchmark index gained 1.5% W.o.W.

FBM KLCI: 1,627.26 pts (+3.05pts, +0.19%)
The FBM KLCI staged a mild recovery on bargain hunting activities coupled with better-than-expected corporate earnings. The immediate support level is located around the 1,610 level.

Crude Palm Oil: RM3,032 (+RM28, +0.93%)
Crude palm oil prices continues to gain traction above the RM3,000 psychological level, buoyed by strong exports data. The RM3,100 level will serve as the next resistance level.

WTI Crude Oil: $46.06 (-$1.97, -4.10%)
Crude oil prices took a beating after top producers; Saudi Arabia has reported that they will not attend the OPEC meeting to discuss on limiting supply. Crude oil prices might consolidate between the US$43-US$46 levels.

Gold: $1,183.56 (-$6.65, -0.56%)
Gold prices snapped a three-straight days of losses after the rally in US Dollars subsides. The US$1,150 level will serve as the next support level.

Bursa Malaysia Trade Statistics - 25 Nov 16
Institutions:  Net BUY 72.5 mln (50.9%)
Retail:  Net BUY 1.1 mln (19.2%)
Foreign:  Net SELL 73.6 mln (29.9%)

Potential Momentum Stocks - 28 Nov 16 
Stock Name: YEELEE (5584)
Entry: Buy above RM2.29
Target: RM2.45 (7.0%), RM2.60 (13.5%)
Stop: RM2.22 (-3.1%)
Shariah: Yes
Technical: Sideways consolidation breakout

Stock Name: LBALUM (9326)
Entry: Buy above RM0.61
Target: RM0.66 (8.2%), RM0.72 (18.0%)
Stop: RM0.57 (-6.6%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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