KLSE Traders Update and Ideas

Daily Market Update - 3 Oct 2017 (BKOON, KSL)

mplus313
Publish date: Tue, 03 Oct 2017, 08:30 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 22,557.60 pts (+152.51pts, +0.68%)
U.S. stockmarkets rallied overnight as the Dow rose 0.7%, anchored by the solid manufacturing data that risen to 60.8 in September 2017- the fastest pace in 13 years. The immediate resistance is located at 22,800.

FBM KLCI: 1,754.78 pts (-0.80pts, -0.05%)
The FBM KLCI (-0.1%) started off the week on a soft note owing to the weak Nikkei Manufacturing data in September 2017. The immediate support is located at 1,750.

Crude Palm Oil: RM2,666 (-RM29, -1.08%)
Crude palm oil prices extended its losses yesterday, taking cue from the weakness in soybean oil prices. The immediate support is envisaged around RM2,600.

WTI Crude Oil: $50.58 (-$1.09, -2.11%)
Crude oil prices fell after OPEC's output increased in September 2017. The immediate resistance is located at US$52.

Gold: $1,271.13 (-$8.62, -0.67%)
Gold prices extended its losses as demand for safe haven assets fades. The immediate support will be pegged around US$1,250.

Economic Releases:
EU - Eurozone's Producer Price Index, 5.00PM

Bursa Malaysia Trade Statistics - 2 Oct 17
Institutions:  Net BUY 95.7 mln (55.5%)
Retail:  Net SELL 16.5 mln (20.7%)
Foreign:  Net SELL 79.2 mln (23.8%)

Potential Momentum Stocks - 3 Oct 17 
Stock Name: BKOON (7187)
Entry: Buy above RM0.51
Target: RM0.545 (6.9%), RM0.58 (13.7%)
Stop: RM0.49 (-3.9%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: KSL (5038)
Entry: Buy above RM1.27
Target: RM1.33 (4.7%), RM1.40 (10.2%)
Stop: RM1.23 (-3.1%)
Shariah: Yes
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

 

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