KLSE Traders Update and Ideas

Daily Market Update - 25 Aug 2017 (KGB, MIKROMB)

mplus313
Publish date: Fri, 25 Aug 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: 21,783.40 pts (-28.69pts, -0.13%)
Wall Street extended its losses as the Dow (-0.1%) gave up its intraday gains ahead of the central bankers meeting at Jackson Hole, Wyoming. The immediate support is located at 21,200.

FBM KLCI: 1,775.50 pts (+2.56pts, +0.14%)
The FBM KLCI (+0.1%) advanced yesterday, lifted by the final hour buying support in selective index heavyweights. The immediate resistance is located at 1,780.

Crude Palm Oil: RM2,777 (+RM39, +1.42%)
Crude palm oil prices advanced for the seventh straight session, taking cue from the firmer soybean oil prices. The immediate resistance is envisaged around RM2,750.

WTI Crude Oil: $47.43 (-$0.98, -2.04%)
Crude oil prices retreated as the Hurricane Harvey in Texas could disrupt refineries operations and subsequently lower demand. The immediate resistance is located at US$50.

Gold: $1,286.40 (-$4.56, -0.35%)
Gold prices ended lower as it continues to consolidate on a tight range. The immediate resistance will be pegged around US$1300.

Bursa Malaysia Trade Statistics - 24 Aug 17
Institutions:  Net BUY 98.2 mln (59.9%)
Retail:  Net SELL 13.1 mln (23.0%)
Foreign:  Net SELL 85.1 mln (17.1%)

Potential Momentum Stocks - 25 Aug 17 
Stock Name: KGB (0151)
Entry: Buy above RM0.66
Target: RM0.71 (7.6%), RM0.75 (13.6%)
Stop: RM0.64 (-3.0%)
Shariah: Yes
Technical: Consolidation breakout

Stock Name: MIKROMB (0112)
Entry: Buy above RM0.51
Target: RM0.555 (8.8%), RM0.595 (16.7%)
Stop: RM0.47 (-7.8%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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