M+ Online Morning Buzz - 18 Jan 17

Dow Jones: 19,826.77 pts (-58.96pts, -0.30%)
U.S. stockmarkets started off the week on a weaker note as the Dow fell 0.3% on concern over uncertainty of president-elect Donald Trump economic policies.

FBM KLCI: 1,663.03 pts (+4.19pts, +0.25%)
Bargain hunting activities from the previous two-day selloff sent the key index 0.3% higher yesterday, bucking the negative sentiment across global stockmarkets. The immediate resistance level is located around the 1,680 level.

Crude Palm Oil: RM3,159 (+RM49, +1.58%)
Crude palm oil prices recouped all its previous session losses, buoyed by stronger demand coupled with higher soybean oil prices. The RM3,200 level will serve as the immediate resistance level.

WTI Crude Oil: $52.48 (+$0.12, +0.23%)
Crude oil prices staged a mild recovery on potential decline in U.S. stockpiles. Crude oil prices might trend towards the US$55-US$60 levels.

Gold: $1,217.07 (+$14.32, +1.19%)
Gold prices continued to trend higher on increasing demand in safe haven assets. The US1,250 will serve as the immediate resistance level.

Economic Releases:
MY - Malaysia's Inflation Rate - 18 Jan 17, 12.00PM
MY - Malaysia's Unemployment Rate - 18 Jan 17, 12.00PM
EU - Eurozone's Inflation Rate - 18 Jan 17, 6.00PM 
US - US Inflation Rate - 13Jan17, 9.30PM
US - US Industrial Production - 13Jan17, 10.15PM

Bursa Malaysia Trade Statistics - 17 Jan 17
Institutions:  Net BUY 105.3 mln (65.4%)
Retail:  Net SELL 24.0 mln (17.4%)
Foreign:  Net SELL 81.3 mln (17.2%)

Potential Momentum Stocks - 18 Jan 17 
Stock Name: BSLCORP (7221)
Entry: Buy above RM0.34
Target: RM0.37 (8.8%), RM0.395 (16.2%)
Stop: RM0.315 (-7.4%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: CYPARK (5184)
Entry: Buy above RM2.13
Target: RM2.25 (5.6%), RM2.56 (20.2%)
Stop: RM2.05 (-3.8%)
Shariah: Yes
Technical: Short-term consolidation breakout

Source: Bloomberg, M+ Online

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