KLSE Traders Update and Ideas

Daily Market Update - 2 Oct 2017 (FPI, PWF)

mplus313
Publish date: Mon, 02 Oct 2017, 08:32 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 22,405.09 pts (+23.89pts, +0.11%)
U.S. stockmarkets notched record closing last Friday as Dow added 0.1% buoyed by optimism over potential tax reformation. The immediate resistance is located at 22,500.

FBM KLCI: 1,755.58 pts (-2.48pts, -0.14%)
The FBM KLCI (-0.1%) slipped lower, dragged down by the persistent foreign fund outflow. The immediate support is located at 1,750.

Crude Palm Oil: RM2,695 (-RM10, -0.37%)
Crude palm oil prices edged marginally lower amid the firmer U.S. Dollar against the Ringgit. The immediate support is envisaged around RM2,600.

WTI Crude Oil: $51.67 (+$0.11, +0.21%)
Crude oil prices staged a mild recovery but gains were limited due to increasing number of U.S. oil rigs. The immediate resistance is located at US$55.

Gold: $1,279.75 (-$7.55, -0.59%)
Gold prices slipped as investors opted for riskier assets. The immediate support will be pegged around US$1,250.

Economic Releases:
JP - Japan's Nikkei Manufacturing PMI, 8.30AM
MY - Malaysia's Nikkei Manufacturing PMI, 8.30AM
EU - Eurozone's Markit Manufacturing PMI, 4.00PM
EU - Eurozone's Unemployment Rate, 5.00PM
US - United States' ISM Manufacturing PMI, 10.00PM

Bursa Malaysia Trade Statistics - 29Sep17
Institutions:  Net BUY 193.0 mln (46.9%)
Retail:  Net SELL 37.0 mln (18.4%)
Foreign:  Net SELL 156.0 mln (34.7%)

Potential Momentum Stocks - 2 Oct 17 
Stock Name: FPI (9172)
Entry: Buy above RM1.26
Target: RM1.35 (7.1%), RM1.40 (11.1%)
Stop: RM1.23 (-2.4%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: PWF (7134)
Entry: Buy above RM1.11
Target: RM1.22 (9.9%), RM1.30 (17.1%)
Stop: RM1.05 (-5.4%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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