KLSE Traders Update and Ideas

Daily Market Update - 5 Apr 2017 (SUNCON, GUNUNG)

mplus313
Publish date: Wed, 05 Apr 2017, 08:40 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 20,689.24 pts (+39.03pts, +0.19%)
U.S. stockmarkets rebounded overnight as the Dow added 0.2%, lifted by gains in energy shares. The 21,000 will serve as the immediate resistance level.

FBM KLCI: 1,747.19 pts (+1.70pts, +0.10%)
Late buying in selective index heavyweights sent the FBM KLCI (+0.1%) marginally higher yesterday. The immediate support level is located around the 1,730 level.

Crude Palm Oil: RM2,631 (-RM31, -1.16%)
Tracking the weakness in soybean oil prices, crude palm oil erased all its previous session gains. The RM2,600 level will serve as the immediate support level.

WTI Crude Oil: $51.03 (+$0.80, +1.64%)
Crude oil prices advanced in anticipation of lower weekly inventory level. Crude oil prices might trend between the US$50-US$55 levels.

Gold: $1,256.28 (+$2.87, +0.20%)
Gold prices climbed higher for the third straight session on higher demand in safe haven assets. The US$1,200 will serve as the immediate support level.

Economic Releases:
EU - Eurozone's Retail Sales - 4 Apr 17, 5.00PM

Bursa Malaysia Trade Statistics - 4 Apr 17
Institutions:  Net SELL 299.3 mln (60.3%)
Retail:  Net SELL 37.9 mln (23.6%)
Foreign:  Net BUY 337.2 mln (16.1%)

Potential Momentum Stocks - 5 Apr 17 
Stock Name: SUNCON (5263)
Entry: Buy above RM1.82
Target: RM1.90 (4.4%), RM2.00 (9.9%)
Stop: RM1.75 (-3.8%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: GUNUNG (7676)
Entry: Buy above RM0.545
Target: RM0.575 (5.5%), RM0.595 (9.2%)
Stop: RM0.515 (-5.5%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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