KLSE Traders Update and Ideas

Daily Market Update - 21 Feb 2017 (UMSNGB, WTK)

mplus313
Publish date: Tue, 21 Feb 2017, 09:00 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 20,624.05 pts (+4.28pts, +0.02%)
U.S. stockmarkets was closed for the President's Day public holiday after being traded to all-time high levels.

FBM KLCI: 1,712.58 pts (+4.90pts, +0.29%)
Tracking the positive sentiment across key regional indices, the FBM KLCI (+0.3%) extended its gains yesterday. The immediate resistance level is located around the 1,730 level.

Crude Palm Oil: RM2,831 (-RM28, -0.98%)
Crude palm oil prices sank for the third straight session on tepid export demand. The RM2,800 level will serve as the immediate support level.

WTI Crude Oil: $53.40 (+$0.04, +0.08%)
Trading in crude oil prices were closed in conjunction with the U.S. President's Day public holiday. Crude oil prices might trend between the US$50-US$55 levels.

Gold: $1,238.47 (+$3.87, +0.31%)
Gold prices inched higher but were traded in a lackluster manner. The US1,250 will serve as the immediate resistance level.

Bursa Malaysia Trade Statistics - 20 Feb 17
Institutions:  Net BUY 100.2 mln (66.2%)
Retail:  Net SELL 13.3 mln (20.8%)
Foreign:  Net SELL 86.9 mln (13.0%)

Potential Momentum Stocks - 21 Feb 17 
Stock Name: UMSNGB (7227)
Entry: Buy above RM1.28
Target: RM1.40 (9.4%), RM1.46 (14.1%)
Stop: RM1.20 (-6.3%)
Shariah: Yes
Technical: Consolidation breakout

Stock Name: WTK (4243)
Entry: Buy above RM1.05
Target: RM1.12 (6.7%), RM1.17 (11.4%)
Stop: RM1.00 (-4.8%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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