KLSE Traders Update and Ideas

Daily Market Update - 10 Apr 2017 (DAYANG, SEAL)

mplus313
Publish date: Mon, 10 Apr 2017, 08:55 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 20,656.10 pts (-6.85pts, -0.03%)
U.S. stockmarkets retreated, dragged down by weaker-than-expected March jobs data. The 21,000 will serve as the immediate resistance level.

FBM KLCI: 1,741.72 pts (+2.16pts, +0.12%)
The FBM KLCI (+0.1%) staged a mild recovery last Friday to reversed its weekly losses and subsequently ended 0.1% higher W.o.W. The immediate support level is located around the 1,730 level.

Crude Palm Oil: RM2,660 (-RM48, -1.77%)
Crude palm oil prices closed lower on concern over higher inventory level in March. The RM2,600 level will serve as the immediate support level.

WTI Crude Oil: $52.24 (+$0.54, +1.05%)
Crude oil prices extended its gains after U.S. launched nearly 60 air missiles towards a Syrian airbase. Crude oil prices might trend between the US$50-US$55 levels.

Gold: $1,254.53 (+$2.83, +0.23%)
Gold prices rebounded on geopolitical risk in Middle East. The US$1,200 will serve as the immediate support level.

Bursa Malaysia Trade Statistics - 7 Apr 17
Institutions:  Net SELL 157.0 mln (57.7%)
Retail:  Net BUY 20.2 mln (21.2%)
Foreign:  Net BUY 136.8 mln (21.1%)

Potential Momentum Stocks - 10 Apr 17 
Stock Name: DAYANG (5141)
Entry: Buy above RM1.04
Target: RM1.13 (8.7%), RM1.22 (17.3%)
Stop: RM0.96 (-7.7%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: SEAL (4286)
Entry: Buy above RM0.48
Target: RM0.52 (8.3%), RM0.54 (12.5%)
Stop: RM0.46 (-4.2%)
Shariah: No
Technical: Breakout-pullback-continuation

Source: Bloomberg, M+ Online

 

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