KLSE Traders Update and Ideas

Daily Market Update - 21 Nov 2017 (MIECO, TECFAST)

mplus313
Publish date: Tue, 21 Nov 2017, 09:12 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 23,430.33 pts (+72.09pts, +0.31%)
U.S. stockmarkets staged a mild recovery overnight as the Dow added 0.3% on gains in technology shares. The immediate support is located at 23,000.

FBM KLCI: 1,718.36 pts (-3.30pts, -0.19%)
The weakness on the FBM KLCI (-0.2%) remains unabated as foreign funds continue to offload Malaysian equities. The immediate support is located at 1,700.

Crude Palm Oil: RM2,628 (-RM86, -3.17%)
Crude palm oil prices took a beating after India raised its import tax coupled with the stronger Ringgit against the U.S. Dollar. The immediate resistance is envisaged around RM2,800.

WTI Crude Oil: $56.42 (-$0.13, -0.23%)
Crude oil prices retreated as record high U.S. weekly production data dented sentiment. The immediate resistance is located at US$60.

Gold: $1,276.92 (-$15.50, -1.20%)
Gold prices erased all its previous session gains on the back of the appreciation of U.S. Dollar against a basket of currencies. The immediate support will be pegged around US$1,250.

Bursa Malaysia Trade Statistics - 20 Nov 17
Institutions:  Net BUY 54.5 mln (65.0%)
Retail:  Net BUY 17.2 mln (16.6%)
Foreign:  Net SELL 71.7 mln (18.4%)

Potential Momentum Stocks - 21 Nov 17 
Stock Name: MIECO (5001)
Entry: Buy above RM1.17
Target: RM1.26 (7.7%), RM1.30 (11.1%)
Stop: RM1.10 (-6.0%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: TECFAST (0084)
Entry: Buy above RM0.775
Target: RM0.875 (12.9%), RM0.90 (16.1%)
Stop: RM0.72 (-7.1%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Source: Bloomberg, M+ Online

 

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kuttyravi

Yes there are plenty exiting the markets agree but it is compounded by acquisition so a resultant of eventual price correction

2017-12-06 01:47

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