KLSE Traders Update and Ideas

Daily Market Update - 2 Nov 2017 (PASUKGB, RGB)

mplus313
Publish date: Thu, 02 Nov 2017, 09:01 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 23,435.01 pts (+57.77pts, +0.25%)
U.S. stockmarkets crept higher overnight as the Dow gained 0.3% after the U.S. Federal Reserve kept its benchmark interest rate unchanged. The immediate resistance is located at 23,500.

FBM KLCI: 1,743.93 pts (-3.99pts, -0.23%)
The FBM KLCI (-0.2%) extended its losses yesterday, bucking the positive performance across key regional indices. The immediate support is located at 1,730.

Crude Palm Oil: RM2,837 (+RM22, +0.78%)
Crude palm oil prices rebounded on expectation over slowdown in production due to seasonal factors. The immediate resistance is envisaged around RM2,850.

WTI Crude Oil: $54.30 (-$0.08, -0.15%)
Crude oil prices erased all its intraday gains to close lower, snapping a four straight session of gains. The immediate resistance is located at US$55.

Gold: $1,274.66 (+$3.21, +0.25%)
Gold prices advanced after the U.S. Dollar slipped against a basket of currencies. The immediate support will be pegged around US$1,250.

Economic Releases:
EU - Eurozone's Markit Manufacturing PMI, 5.00 PM
UK - United Kingdom's Bank of England's Interest Rate Decision, 8.00PM

Bursa Malaysia Trade Statistics - 1 Nov 17
Institutions:  Net SELL 132.8 mln (57.9%)
Retail:  Net BUY 111.9 mln (27.1%)
Foreign:  Net BUY 20.9 mln (15.0%)

Potential Momentum Stocks - 2 Nov 17 
Stock Name: PASUKGB (0117)
Entry: Buy above RM0.165
Target: RM0.18 (9.1%), RM0.20 (21.2%)
Stop: RM0.155 (-6.1%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: RGB (0037)
Entry: Buy above RM0.325
Target: RM0.345 (6.2%), RM0.36 (10.8%)
Stop: RM0.305 (-6.2%)
Shariah: No
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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