KLSE Traders Update and Ideas

Daily Market Update - 14 Nov 2017 (CRESBLD, ENGTEX)

mplus313
Publish date: Tue, 14 Nov 2017, 08:47 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 23,439.70 pts (+17.49pts, +0.07%)
U.S. stockmarkets managed to recover their intraday losses as the Dow recovered from a two-day selloff to close 0.1% higher. The immediate resistance is located at 23,750.

FBM KLCI: 1,737.49 pts (-4.79pts, -0.27%)
The FBM KLCI (-0.3%) extended its losses in tandem with the weakness in regional indices. The immediate support is located at 1,730.

Crude Palm Oil: RM2,761 (-RM36, -1.29%)
Crude palm oil prices retreated in line with the firmer Ringgit against the Greenback coupled with the fall in soybean oil prices. The immediate resistance is envisaged around RM2,850.

WTI Crude Oil: $56.76 (+$0.02, +0.04%)
Crude oil prices ended marginally lower as gains were capped by the potential resurgence of shale oil drilling. The immediate resistance is located at US$60.

Gold: $1,278.31 (+$3.24, +0.25%)
Gold prices rebounded but continue to trade within the consolidation band. The immediate support will be pegged around US$1,250.

Economic Releases:
CN - China's Industrial Production, 10.00AM
CN - China's Retail Sales, 10.00AM
UK - United Kingdom's Inflation Rate, 5.30PM
EU - Eurozone's Industrial Production, 6.00PM
US - United States' Producer Price Index, 9.30PM

Bursa Malaysia Trade Statistics - 13 Nov 17
Institutions:  Net BUY 53.7 mln (21.5%)
Retail:  Net BUY 24.5 mln (-21.5%)
Foreign:  Net BUY 21.8 mln (0.0%)

Potential Momentum Stocks - 14 Nov 17 
Stock Name: CRESBLD (7088)
Entry: Buy above RM1.08
Target: RM1.14 (5.6%), RM1.22 (13.0%)
Stop: RM1.01 (-6.5%)
Shariah: Yes
Technical: Bullish engulfing candle

Stock Name: ENGTEX (5056)
Entry: Buy above RM1.21
Target: RM1.27 (5.0%), RM1.34 (10.7%)
Stop: RM1.15 (-5.0%)
Shariah: Yes
Technical: Symmetrical triangle formation breakout

Source: Bloomberg, M+ Online

 

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