KLSE Traders Update and Ideas

Daily Market Update - 14 Jun 2017 (POHUAT, ZHULIAN)

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Publish date: Wed, 14 Jun 2017, 08:42 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 21,328.47 pts (+92.80pts, +0.44%)
U.S. stockmarkets rose to record high levels overnight as the Dow gained 0.4% ahead of the widely anticipated U.S. Federal Reserve rate hike today. The next resistance is located at 21,500.

FBM KLCI: 1,784.44 pts (-4.45pts, -0.25%)
The FBM KLCI fell 0.3% yesterday, bucking the positive performance across its regional peers. The immediate resistance is anticipated at 1,800.

Crude Palm Oil: RM2,457 (-RM25, -1.02%)
Crude palm oil prices fell to its lowest level since August 2016 on concern over lower demand in coming weeks after the festive season is over. Support is envisaged around RM2,450.

WTI Crude Oil: $46.46 (+$1.10, +2.39%)
Crude oil prices advanced for the third straight session after enduring a choppy trading session. The immediate support is pegged at US$43.

Gold: $1,266.55 (-$1.22, -0.10%)
Gold prices ended marginally higher, snapping a four consecutive session of decline as the Greenback weakened. Next resistance will be pegged around US$1300.

Economic Releases:
CN - China's Retail Sales - 14 Jun 17, 10.00AM
CN - China's Industrial Production - 14 Jun 17, 10.00AM
UK - United Kingdom's Unemployment Rate - 14 Jun 17, 4.30PM
EU - Eurozone's Industrial Production - 14 Jun 17, 5.00PM
US - United States' Inflation Rate - 14 Jun 17, 8.30PM
US - United States' Retail Sales - 14 Jun 17, 8.30PM

Bursa Malaysia Trade Statistics - 13 Jun 17
Institutions:  Net BUY 47.1 mln (58.2%)
Retail:  Net BUY 11.4 mln (17.3%)
Foreign:  Net SELL 58.5 mln (24.5%)

Potential Momentum Stocks - 14 Jun 17 
Stock Name: POHUAT (7088)
Entry: Buy above RM1.86
Target: RM2.04 (9.7%), RM2.12 (14.0%)
Stop: RM1.78 (-4.3%)
Shariah: Yes
Technical: Consolidation breakout

Stock Name: ZHULIAN (5131)
Entry: Buy above RM1.65
Target: RM1.85 (12.1%), RM1.98 (20.0%)
Stop: RM1.55 (-6.1%)
Shariah: Yes
Technical: Trendline breakout

Source: Bloomberg, M+ Online

 

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