KLSE Traders Update and Ideas

Daily Market Update - 3 Apr 2017 (KAREX, RUBEREX)

mplus313
Publish date: Mon, 03 Apr 2017, 08:58 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 20,663.22 pts (-65.27pts, -0.31%)
U.S. stockmarkets retreated on concern over Eurozone's political uncertainty as the Dow declined 0.3% but managed to record 4.6% growth in 1Q2017. The 21,000 will serve as the immediate resistance level.

FBM KLCI: 1,740.09 pts (-9.16pts, -0.52%)
The FBM KLCI (-0.5%) retreated for the third straight session in tandem with the weakness across key regional indices but managed to record 6.0% gain in 1Q2017. The immediate support level is located around the 1,730 level.

Crude Palm Oil: RM2,646 (-RM13, -0.49%)
Crude palm oil prices closed lower for the fourth consecutive session to mark its first quarterly decline since June 2016. The RM2,600 level will serve as the immediate support level.

WTI Crude Oil: $50.60 (+$0.25, +0.50%)
Crude oil prices edged higher but was the worst performing commodity asset, falling 5.8% in 1Q2017. Crude oil prices might trend between the US$50-US$55 levels.

Gold: $1,249.20 (+$6.56, +0.53%)
Gold prices rebounded to mark its third consecutive weekly gains. The US$1,200 will serve as the immediate support level.

Economic Releases:
US - US' ISM Manufacturing PMI - 1 Apr 17, 10.00PM

Bursa Malaysia Trade Statistics - 31 Mar 17
Institutions:  Net SELL 223.4 mln (58.5%)
Retail:  Net SELL 0.7 mln (19.9%)
Foreign:  Net BUY 224.1 mln (21.6%)

Potential Momentum Stocks - 3 Apr 17 
Stock Name: KAREX (5247)
Entry: Buy above RM2.16
Target: RM2.34 (8.3%), RM2.52 (16.7%)
Stop: RM2.05 (-5.1%)
Shariah: No
Technical: Monitor for breakout

Stock Name: RUBEREX (7803)
Entry: Buy above RM0.79
Target: RM0.83 (5.1%), RM0.85 (7.6%)
Stop: RM0.78 (-1.3%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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