KLSE Traders Update and Ideas

Daily Market Update - 7 Apr 2017 (SOLUTN, KPS)

mplus313
Publish date: Fri, 07 Apr 2017, 09:01 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 20,662.95 pts (+14.80pts, +0.07%)
U.S. stockmarkets inched higher ahead of the two-day meeting between President Donald Trump and Xi Jinping. The 21,000 will serve as the immediate resistance level.

FBM KLCI: 1,739.56 pts (-5.11pts, -0.29%)
The FBM KLCI (-0.3%) drifted lower yesterday to close at its lowest level in three-weeks as foreign funds trim their holdings. The immediate support level is located around the 1,730 level.

Crude Palm Oil: RM2,708 (-RM6, -0.22%)
Crude palm oil prices retreated ahead of the MPOB report next week. The RM2,600 level will serve as the immediate support level.

WTI Crude Oil: $51.70 (+$0.55, +1.08%)
Crude oil prices rose to one-month high after production at Canada's biggest oil sands upgrader was disrupted. Crude oil prices might trend between the US$50-US$55 levels.

Gold: $1,251.70 (-$4.06, -0.32%)
Gold prices extended its losses on strong jobs data in the week of 1st April 2017. The US$1,200 will serve as the immediate support level.

Economic Releases:
US - US' Unemployment Rate - 7 Apr 17, 8.30PM

Bursa Malaysia Trade Statistics - 6 Apr 17
Institutions:  Net BUY 89.5 mln (60.0%)
Retail:  Net BUY 27.1 mln (22.2%)
Foreign:  Net SELL 116.6 mln (17.8%)

Potential Momentum Stocks - 7 Apr 17 
Stock Name: SOLUTN (0093)
Entry: Buy above RM0.325
Target: RM0.355 (9.2%), RM0.38 (16.9%)
Stop: RM0.315 (-3.1%)
Shariah: Yes
Technical: Symmetrical triangle breakout

Stock Name: KPS (5843)
Entry: Buy above RM1.46
Target: RM1.63 (11.6%), RM1.74 (19.2%)
Stop: RM1.36 (-6.8%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Source: Bloomberg, M+ Online

 

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