KLSE Traders Update and Ideas

Daily Market Update - 19 Apr 2017 (D&O, XINHWA)

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Publish date: Wed, 19 Apr 2017, 08:44 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 20,523.28 pts (-113.64pts, -0.55%)
The Dow (-0.5%) retreated overnight, extending its fall for a fourth straight session after Goldman Sachs and Johnson & Johnson earnings missed forecast. At the same time, the healthcare sector was also pulled down along with the weakness in the bellwethers. The S&P 500 slipped 0.3%, while the Nasdaq was 0.1% lower.

FBM KLCI: 1,740.60 pts (+6.67pts, +0.38%)
The key-index rose 0.2% on Monday - led by bargain hunting activities in the lower liners, amid thin trading. Near-term resistance will be pegged around the 1740 levels.

Crude Palm Oil: RM2,473 (-RM25, -1.00%)
Crude palm oil prices continue to slide to RM2473 as production is likely to increase. Support is pegged around RM2400.

WTI Crude Oil: $52.41 (-$0.24, -0.46%)
Crude oil prices fell again as new data showed a smaller-than-expected decline in U.S. inventory 

Gold: $1,289.76 (+$5.05, +0.39%)
Gold prices climbed slightly on expectations that inflation will aid demand.  Prices is expected to linger within the range of US$1260 to US$1300 for now.

Economic Releases:
MY - Malaysia Inflation rate - 19 Apr 17, 12.00PM

Bursa Malaysia Trade Statistics - 18 Apr 17
Institutions:  Net SELL 62.7 mln (61.6%)
Retail:  Net SELL 58.7 mln (18.7%)
Foreign:  Net BUY 121.4 mln (19.7%)

Potential Momentum Stocks - 19 Apr 17 
Stock Name: D&O (7204)
Entry: Buy above RM0.660
Target: RM0.735 (11.4%), RM0.800 (21.2%)
Stop: RM0.610 (-7.6%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: XINHWA (5267)
Entry: Buy above RM1.200
Target: RM1.320 (10.0%), RM1.360 (13.3%)
Stop: RM1.120 (-6.7%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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