Dow Jones: 21,513.17 pts (-66.90pts, -0.31%)
U.S. stockmarkets closed lower as the Dow fell 0.3% overnight amid the weak new home sales data, whilst investors prepare ahead of a barrage of corporate quarterly earnings. The next resistance is located at 21,750.
FBM KLCI: 1,761.99 pts (+2.83pts, +0.16%)
Buying support in selective telco heavyweights sent the FBM KLCI to close above the 1,760 short-term consolidation level yesterday. The key index is likely to remain rangebound between the 1,750-1,770 levels.
Crude Palm Oil: RM2,553 (-RM20, -0.78%)
Tracking the weakness in soy bean oil prices, crude palm oil prices also ended lower yesterday. Resistance is envisaged around RM2,600.
WTI Crude Oil: $46.34 (+$0.57, +1.25%)
Crude oil prices advanced after Saudi Arabia pledge to cut oil exports starting August 2017. The immediate resistance is located at US$47.
Gold: $1,255.30 (+$0.32, +0.03%)
Gold prices rose for the third straight day to close at its highest level in one-month. Next resistance will be pegged around US$1300.
Bursa Malaysia Trade Statistics - 24 Jul 17
Institutions: Net SELL 124.0 mln (61.8%)
Retail: Net SELL 1.7 mln (18.3%)
Foreign: Net BUY 125.7 mln (19.9%)
Potential Momentum Stocks - 25 Jul 17
Stock Name: 3A (0012)
Entry: Buy above RM1.36
Target: RM1.42 (4.4%), RM1.50 (10.3%)
Stop: RM1.32 (-2.9%)
Shariah: Yes
Technical: Breakout-pullback-continuation
Stock Name: MNRB (6459)
Entry: Buy above RM2.71
Target: RM2.84 (4.8%), RM3.00 (10.7%)
Stop: RM2.61 (-3.7%)
Shariah: No
Technical: Monitor for breakout
Source: Bloomberg, M+ Online
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