Dow Jones: 23,329.46 pts (-112.30pts, -0.48%)
U.S. stockmarkets retreated overnight as the Dow (-0.5%) fell from its record high level on a string of disappointing quarterly earnings. The immediate resistance is located at 23,500.
FBM KLCI: 1,739.05 pts (+2.91pts, +0.17%)
The FBM KLCI (+0.2%) staged a recovery yesterday on mild bargain hunting in selective blue chip stocks. The immediate support is located at 1,730.
Crude Palm Oil: RM2,805 (+RM28, +1.01%)
Crude palm oil prices rebounded on talks over potential La Nina weather phenomenon at end-2017. The immediate resistance is envisaged around RM2,800.
WTI Crude Oil: $52.18 (-$0.29, -0.55%)
Crude oil prices declined as rising production in U.S. offsets the record global demand. The immediate resistance is located at US$55.
Gold: $1,277.53 (+$0.95, +0.07%)
Gold prices rebounded but gains were limited due to muted demand. The immediate support will be pegged around US$1,250.
Economic Releases:
EU - European Central Bank's Interest Rate Decision, 7.45PM
Bursa Malaysia Trade Statistics - 25 Oct 17
Institutions: Net BUY 39.1 mln (58.5%)
Retail: Net SELL 12.3 mln (22.1%)
Foreign: Net SELL 26.8 mln (19.4%)
Potential Momentum Stocks - 26 Oct 17
Stock Name: VIZIONE (7070)
Entry: Buy above RM0.155
Target: RM0.17 (9.7%), RM0.175 (12.9%)
Stop: RM0.145 (-6.5%)
Shariah: Yes
Technical: Monitor for breakout
Stock Name: CRESBLD (8591)
Entry: Buy above RM1.05
Target: RM1.10 (4.8%), RM1.14 (8.6%)
Stop: RM1.01 (-3.8%)
Shariah: Yes
Technical: Bullish engulfing candle
Source: Bloomberg, M+ Online
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