KLSE Traders Update and Ideas

Daily Market Update - 28 Aug 2017 (SERBADK, EUPE)

mplus313
Publish date: Mon, 28 Aug 2017, 08:46 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 21,813.67 pts (+30.27pts, +0.14%)
Wall Street rebounded as the Dow added 0.1% on last Friday after the central bankers offer little clue on monetary policy direction at the Jackson Hole, Wyoming meeting. The immediate support is located at 21,200.

FBM KLCI: 1,769.17 pts (-6.33pts, -0.36%)
The FBM KLCI (+0.4%) retreated amid the extended foreign fund outflow for the past six straight session. The immediate resistance is located at 1,780.

Crude Palm Oil: RM2,750 (-RM27, -0.97%)
Crude palm oil prices snapped a streak of seven consecutive days of gains on the back of firmer Ringgit against the US Dollar coupled with the weakness in soybean oil prices. The immediate resistance is envisaged around RM2,750.

WTI Crude Oil: $47.87 (+$0.44, +0.93%)
Crude oil prices rebounded after the Hurricane Harvey in Texas caused production to be halted. The immediate resistance is located at US$50.

Gold: $1,291.20 (+$4.80, +0.37%)
Gold prices rebounded on weaker U.S. Dollar against a basket of currencies. The immediate resistance will be pegged around US$1300.

Bursa Malaysia Trade Statistics - 25 Aug 17
Institutions:  Net BUY 9.3 mln (58.4%)
Retail:  Net BUY 15.5 mln (24.3%)
Foreign:  Net SELL 24.8 mln (17.3%)

Potential Momentum Stocks - 28 Aug 17 
Stock Name: SERBADK (5279)
Entry: Buy above RM2.15
Target: RM2.30 (7.0%), RM2.40 (11.6%)
Stop: RM2.10 (-2.3%)
Shariah: Yes
Technical: Flag-formation breakout

Stock Name: EUPE (6815)
Entry: Buy above RM1.10
Target: RM1.22 (10.9%), RM1.30 (18.2%)
Stop: RM1.02 (-7.3%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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