KLSE Traders Update and Ideas

Daily Market Update - 1 Nov 2017 (MMSV, JOHOTIN)

mplus313
Publish date: Wed, 01 Nov 2017, 08:57 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 23,377.24 pts (+28.50pts, +0.12%)
Gains in technology and consumer staples stocks sent U.S. stockmarkets higher overnight as the Dow added 0.1% close 4.3% higher M.o.M and consequently recorded its seventh straight monthly winning streak. The immediate resistance is located at 23,500.

FBM KLCI: 1,747.92 pts (-0.43pts, -0.02%)
The FBM KLCI (-0.02%) ended marginally lower yesterday after enduring a volatile trading session. The immediate support is located at 1,730.

Crude Palm Oil: RM2,815 (-RM24, -0.85%)
Crude palm oil prices retreated in tandem with the weakness in soybean oil prices. The immediate resistance is envisaged around RM2,850.

WTI Crude Oil: $54.38 (+$0.23, +0.43%)
Crude oil prices extended its gains after U.S. weekly crude and gasoline stockpiles declined. The immediate resistance is located at US$55.

Gold: $1,271.45 (-$4.84, -0.38%)
Gold prices fell as investors appetite shifted to 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
CN - China's Caixin Manufacturing PMI, 9.45AM
US - United States' ISM Manufacturing PMI, 10.00PM

Bursa Malaysia Trade Statistics - 31 Oct 17
Institutions:  Net BUY 43.3 mln (56.0%)
Retail:  Net BUY 15.8 mln (20.9%)
Foreign:  Net SELL 59.1 mln (23.1%)

Potential Momentum Stocks - 1 Nov 17 
Stock Name: MMSV (0113)
Entry: Buy above RM1.83
Target: RM1.93 (5.5%), RM2.05 (12.0%)
Stop: RM1.77 (-3.3%)
Shariah: No
Technical: Trendline breakout

Stock Name: JOHOTIN (7167)
Entry: Buy above RM1.40
Target: RM1.49 (6.4%), RM1.62 (15.7%)
Stop: RM1.34 (-4.3%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Source: Bloomberg, M+ Online

 

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