KLSE Traders Update and Ideas

Daily Market Update - 21 Sept 2017 (SKPRES, POHUAT)

mplus313
Publish date: Thu, 21 Sep 2017, 08:30 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 22,412.59 pts (+41.79pts, +0.19%)
U.S. stockmarkets was powered higher as the Dow added 0.2% after the U.S. Federal Reserve kept its benchmark interest rates unchanged and will trim its balance sheet starting with US$10.0 bln per month. The immediate resistance is located at 22,500.

FBM KLCI: 1,773.58 pts (-3.08pts, -0.17%)
The FBM KLCI (-0.2%) drifted lower yesterday on renewed selloff from foreign funds. The immediate resistance is located at 1,800.

Crude Palm Oil: RM2,770 (+RM3, +0.11%)
Crude palm oil prices snapped a streak of four straight session of decline on improved export data. The immediate support is envisaged around RM2,800.

WTI Crude Oil: $50.69 (+$1.21, +2.45%)
Crude oil prices rallied on decline in fuel supplies coupled with potential rising demand. The next resistance is located at US$52.

Gold: $1,301.10 (-$10.05, -0.77%)
Gold prices reversed all its previous session gains as investors shift towards riskier assets. The immediate resistance will be pegged around US$1,350.

Economic Releases:
JP - Japan's Bank of Japan Interest Rate Decision, 11.00AM

Bursa Malaysia Trade Statistics - 20Sep17
Institutions:  Net BUY 214.7 mln (50.4%)
Retail:  Net BUY 6.3 mln (24.4%)
Foreign:  Net SELL 221.0 mln (25.2%)

Potential Momentum Stocks - 21Sep17 
Stock Name: SKPRES (7155)
Entry: Buy above RM1.49
Target: RM1.55 (4.0%), RM1.58 (6.0%)
Stop: RM1.43 (-4.0%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: POHUAT (7088)
Entry: Buy above RM1.92
Target: RM1.98 (3.1%), RM2.06 (7.3%)
Stop: RM1.88 (-2.1%)
Shariah: Yes
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

 

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