KLSE Traders Update and Ideas

Daily Market Update - 13 Feb 2017 (CENTURY, LKL)

mplus313
Publish date: Mon, 13 Feb 2017, 08:47 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 20,269.37 pts (+96.97pts, +0.48%)
U.S. stockmarkets extended their gains as the Dow logged its third weekly winning streak in anticipation of new tax plans.

FBM KLCI: 1,698.94 pts (+10.44pts, +0.62%)
Tracking the positive developments across global stockmarkets, the FBMKLCI (+0.6%) rallied to close at 1,698.94 pts after having re-tested the 1,700 psychological level. The immediate resistance level is located around the 1,700 level.

Crude Palm Oil: RM3,071 (-RM27, -0.87%)
Crude palm oil prices reversed all its previous two session gains on the decline in India's import. The RM3,000 level will serve as the immediate support level.

WTI Crude Oil: $53.86 (+$0.86, +1.62%)
Crude oil prices advanced on OPEC's compliance in trimming production. Crude oil prices might trend between the US$50-US$55 levels.

Gold: $1,233.62 (+$5.26, +0.43%)
Gold prices staged a mild recovery on higher demand. The US1,250 will serve as the immediate resistance level.

Economic Releases:
MY - Malaysia's Unemployment Rate - 13 Feb 17, 12.00PM

Bursa Malaysia Trade Statistics - 10 Feb 17
Institutions:  Net SELL 147.1 mln (58.5%)
Retail:  Net BUY 10.0 mln (17.3%)
Foreign:  Net BUY 137.1 mln (24.2%)

Potential Momentum Stocks - 13 Feb 17 
Stock Name: CENTURY (7117)
Entry: Buy above RM0.905
Target: RM0.955 (5.5%), RM0.99 (9.4%)
Stop: RM0.875 (-3.3%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: LKL (0182)
Entry: Buy above RM0.27
Target: RM0.305 (13.0%), RM0.335 (24.1%)
Stop: RM0.245 (-9.3%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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