KLSE Traders Update and Ideas

Daily Market Update - 28 Feb 2017 (TOMYPAK, LAYHONG)

mplus313
Publish date: Tue, 28 Feb 2017, 08:34 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 20,837.44 pts (+15.68pts, +0.08%)
U.S. stockmarkets advanced as the Dow recorded its 12th consecutive winning streak ahead of Donald Trump's speech in regards to infrastructure spending. The 21,000 will serve as the immediate resistance level.

FBM KLCI: 1,693.84 pts (-4.51pts, -0.27%)
Extended profit taking activities sent the FBM KLCI (-0.3%) lower yesterday in tandem with the soft performance across key regional indices. The next support level is located around the 1,680 level.

Crude Palm Oil: RM2,754 (-RM52, -1.85%)
Crude palm oil was unable to defend the 2,800 level on concern over export demand of palm oil. The RM2,700 level will serve as the immediate support level.

WTI Crude Oil: $54.05 (+$0.06, +0.11%)
Crude oil prices were traded in a tight range before recording 0.1% gain. Crude oil prices might trend between the US$50-US$55 levels.

Gold: $1,252.73 (-$4.46, -0.36%)
Gold prices retreated from its three-and-half months high level on profit taking activities. The US1,300 will serve as the next resistance level.
 
Bursa Malaysia Trade Statistics - 27 Feb 17
Institutions:  Net BUY 54.4 mln (61.4%)
Retail:  Net BUY 9.9 mln (21.1%)
Foreign:  Net SELL 64.3 mln (17.5%)

Potential Momentum Stocks - 28 Feb 17 
Stock Name: TOMYPAK (7285)
Entry: Buy above RM1.77
Target: RM1.87 (5.6%), RM2.00 (13.0%)
Stop: RM1.71 (-3.4%)
Shariah: No
Technical: Consolidation breakout

Stock Name: LAYHONG (9385)
Entry: Buy above RM0.915
Target: RM0.95 (3.8%), RM1.00 (9.3%)
Stop: RM0.88 (-3.8%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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