KLSE Traders Update and Ideas

Daily Market Update - 25 May 2017 (PASDEC, SENDAI)

mplus313
Publish date: Thu, 25 May 2017, 08:45 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 21,012.42 pts (+74.51pts, +0.36%)
The Dow closed slightly higher following a choppy trade, after the U.S. Federal Reserve maintained its hawkish outlook on interest rate policies. Further resistance will be pegged at 21,100 pts.

FBM KLCI: 1,771.01 pts (+3.84pts, +0.22%)
The local bourse finished with minute gains, on last minute buying-support in selected heavyweights, as investors look forward to the tax reforms promised under Donald Trump's administration. Moving forward, the key-index could linger in-between 1750 to 1780.

Crude Palm Oil: RM2,581 (-RM36, -1.38%)
Crude palm oil hit its lowest point in three weeks, driven by lower soybean oil prices which could stifle China's demand for crude palm oil. Support is located around RM2,556.

WTI Crude Oil: $51.36 (-$0.11, -0.21%)
Crude oil prices declined as investors booked profits, ahead of a scheduled meeting by major crude oil exporters later. Support is located around US$50.

Gold: $1,258.73 (+$7.51, +0.60%)
Gold prices recovered from its intraday low, following a knee-jerk reaction to potential U.S. interest rate hike in the near future. Gains will be capped around US$1261.

Bursa Malaysia Trade Statistics - 24 May 17
Institutions:  Net SELL 16.4 mln (62.5%)
Retail:  Net BUY 57.7 mln (21.2%)
Foreign:  Net SELL 41.3 mln (16.3%)

Potential Momentum Stocks - 25 May 17 
Stock Name: PASDEC (6912)
Entry: Buy above RM0.62
Target: RM0.645 (4.0%), RM0.66 (6.5%)
Stop: RM0.595 (-4.0%)
Shariah: Yes
Technical: Breakout momentum trade

Stock Name: SENDAI (5205)
Entry: Buy above RM0.98
Target: RM1.05 (7.1%), RM1.11 (13.3%)
Stop: RM0.92 (-6.1%)
Shariah: Yes
Technical: Breakout momentum trade

Source: Bloomberg, M+ Online

 

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