KLSE Traders Update and Ideas

Daily Market Update - 9 May 2017 (NOTION, BOILERM)

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Publish date: Tue, 09 May 2017, 09:10 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 21,012.28 pts (+5.34pts, +0.03%)
U.S. equities eked out minor gains on Monday, after hitting fresh record highs, spurred by easing geopolitical risks following the anticipated win of Emmanuel Macron.

FBM KLCI: 1,768.15 pts (+5.41pts, +0.31%)
Tracking the positive mood on the regional indices, the key-index finished 0.3% higher, following Emmanuel Macron's victory in the French election. The key-index might trend between 1750 to 1780.

Crude Palm Oil: RM2,598 (+RM20, +0.78%)
Crude palm oil prices rose amid extended buying-interest, on expectations of higher demand ahead of the Ramadan festivals.  Prices are expected to linger between RM2,450 to RM2,600.

WTI Crude Oil: $46.43 (+$0.83, +1.83%)
Crude oil prices came off intraday high, but closed in the green, amid persistent worries of increasing crude stockpiles due to high U.S. and Libyan production. Near-term resistance is located around the US$47.

Gold: $1,226.23 (-$2.75, -0.22%)
Gold remained volatile with a downward bias, after Emmanuel Macron's victory eased European political risk. Support is located around the US$1,218.

Bursa Malaysia Trade Statistics - 8 May 17
Institutions:  Net SELL 99.5 mln (59.2%)
Retail:  Net SELL 5.2 mln (26.2%)
Foreign:  Net BUY 104.7 mln (14.6%)

Potential Momentum Stocks - 9 May 17 
Stock Name: NOTION (0083)
Entry: Buy above RM1.28
Target: RM1.38 (7.8%), RM1.49 (16.4%)
Stop: RM1.18 (-7.8%)
Shariah: Yes
Technical: Breakout momentum trade

Stock Name: BOILERM (0168)
Entry: Buy above RM0.875
Target: RM0.93 (6.3%), RM0.965 (10.3%)
Stop: RM0.83 (-5.1%)
Shariah: Yes
Technical: Breakout momentum trade

Source: Bloomberg, M+ Online

 

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