KLSE Traders Update and Ideas

Daily Market Update - 26 Sept 2017 (SERBADK, DELEUM)

mplus313
Publish date: Tue, 26 Sep 2017, 08:29 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 22,296.09 pts (-53.50pts, -0.24%)
U.S. stockmarkets ended lower overnight as the Dow fell 0.2% on rising geopolitical tension with North Korea coupled with the selloff in technology shares. The immediate resistance is located at 22,500.

FBM KLCI: 1,769.14 pts (-1.90pts, -0.11%)
The FBM KLCI (-0.1%) extended its losses yesterday, dragged down by weakness in banking heavyweight. The immediate support is located at 1,760.

Crude Palm Oil: RM2,691 (-RM46, -1.68%)
Crude palm oil prices slipped to 5-weeks low, taking cue from the weakness in soybean oil markets. The immediate support is envisaged around RM2,600.

WTI Crude Oil: $52.22 (+$1.56, +3.07%)
Crude oil prices rallied on optimism over OPEC's extension of production cut coupled with higher compliance over production cut in August 2017. The immediate resistance is located at US$55.

Gold: $1,310.78 (+$13.48, +1.04%)
Gold prices surged as demand on safe haven assets increased. The immediate resistance will be pegged around US$1,350.

Economic Releases:
US - United States' New Home Sales, 10.00PM

Bursa Malaysia Trade Statistics - 25Sep17
Institutions:  Net BUY 100.8 mln (50.8%)
Retail:  Net BUY 26.3 mln (20.8%)
Foreign:  Net SELL 127.1 mln (28.4%)

Potential Momentum Stocks - 26Sep17 
Stock Name: SERBADK (5279)
Entry: Buy above RM2.26
Target: RM2.40 (6.2%), RM2.50 (10.6%)
Stop: RM2.15 (-4.9%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: DELEUM (5132)
Entry: Buy above RM0.92
Target: RM0.97 (5.4%), RM1.01 (9.8%)
Stop: RM0.875 (-4.9%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Source: Bloomberg, M+ Online

 

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