KLSE Traders Update and Ideas

Daily Market Update - 25 Sept 2017 (BAUTO, CUSCAPI)

mplus313
Publish date: Mon, 25 Sep 2017, 08:29 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 22,349.59 pts (-9.64pts, -0.04%)
U.S. stockmarkets closed mixed last Friday as the Dow ended marginally lower on weakness in Apple Inc (-1.0%) coupled with the concern over the escalating tension with North Korea. The immediate resistance is located at 22,500.

FBM KLCI: #N/A N/A pts (-2.54pts, -0.14%)
The FBM KLCI (-0.1%) ended lower ahead of the extended weekend break. The immediate resistance is located at 1,800.

Crude Palm Oil: RM2,737 (-RM33, -1.19%)
Crude palm oil prices retreated and subsequently recorded its worst weekly session, taking cue from the weakness in soybean oil prices coupled with the anticipation of rising production in September 2017. The immediate support is envisaged around RM2,700.

WTI Crude Oil: $50.66 (+$0.11, +0.22%)
Crude oil prices chalked in minor gains ahead of the OPEC meeting. The immediate resistance is located at US$52.

Gold: $1,297.30 (+$6.10, +0.47%)
Gold prices rebounded after North Korea's hydrogen bomb threat boost safe haven assets. The immediate resistance will be pegged around US$1,350.

Bursa Malaysia Trade Statistics - 21Sep17
Institutions:  Net BUY 148.6 mln (53.7%)
Retail:  Net BUY 34.8 mln (25.9%)
Foreign:  Net SELL 183.4 mln (20.4%)

Potential Momentum Stocks - 25Sep17 
Stock Name: BAUTO (5248)
Entry: Buy above RM2.09
Target: RM2.20 (5.3%), RM2.30 (10.0%)
Stop: RM2.00 (-4.3%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: CUSCAPI (0051)
Entry: Buy above RM0.29
Target: RM0.31 (6.9%), RM0.32 (10.3%)
Stop: RM0.275 (-5.2%)
Shariah: Yes
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

 

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