KLSE Traders Update and Ideas

Daily Market Update - 15 Nov 2017 (COCOLND, TRIPLC)

mplus313
Publish date: Wed, 15 Nov 2017, 08:52 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 23,409.47 pts (-30.23pts, -0.13%)
U.S. stockmarkets retreated as the Dow slipped 0.1% on weakness in General Electric (-5.9%) coupled with concern over the economic slowdown in China. The immediate resistance is located at 23,750.

FBM KLCI: 1,733.61 pts (-3.88pts, -0.22%)
Tracking the weakness across key regional indices, the FBM KLCI (-0.2%) retreated for the third straight session. The immediate support is located at 1,730.

Crude Palm Oil: RM2,717 (-RM44, -1.59%)
Crude palm oil prices fell to three weeks low on concern over the prospects of duty hike in India that could dent demand. The immediate resistance is envisaged around RM2,800.

WTI Crude Oil: $55.70 (-$1.06, -1.85%)
Crude oil prices sank after Russia is in doubt of supporting the extension of production cut. The immediate resistance is located at US$60.

Gold: $1,280.25 (+$1.94, +0.15%)
Gold prices extended its gains as demand in safe haven asset improved. The immediate support will be pegged around US$1,250.

Economic Releases:
JP - Japan's Industrial Production, 12.30PM
UK - United Kingdom's Unemployment Rate, 5.30PM
US - United States' Inflation Rate, 9.30PM
US - United States' Retail Sales, 9.30PM

Bursa Malaysia Trade Statistics - 14 Nov 17
Institutions:  Net SELL 196.5 mln (55.0%)
Retail:  Net BUY 15.2 mln (19.7%)
Foreign:  Net BUY 181.3 mln (25.3%)

Potential Momentum Stocks - 15 Nov 17 
Stock Name: COCOLND (7205)
Entry: Buy above RM2.84
Target: RM2.98 (4.9%), RM3.03 (6.7%)
Stop: RM2.72 (-4.2%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: TRIPLC (5622)
Entry: Buy above RM2.17
Target: RM2.34 (7.8%), RM2.41 (11.1%)
Stop: RM2.09 (-3.7%)
Shariah: No
Technical: Breakout-pullback-continuation

Source: Bloomberg, M+ Online

 

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