KLSE Traders Update and Ideas

Daily Market Update - 24 Nov 2017 (FGV, CAB)

mplus313
Publish date: Fri, 24 Nov 2017, 08:30 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 23,526.18 pts (-64.65pts, -0.27%)
U.S. stockmarkets were closed for the Thanksgiving public holiday. The immediate resistance is located at 23,750.

FBM KLCI: 1,721.27 pts (-2.27pts, -0.13%)
The FBM KLCI (-0.1%) succumbs to selling pressure, dragged down by weakness in selective plantation heavyweights. The immediate resistance is located at 1,730.

Crude Palm Oil: RM2,609 (-RM35, -1.32%)
Crude palm oil prices retreated on expectation over the weak export data coupled with the rising Ringgit against the Greenback. The immediate support is envisaged around RM2,600.

WTI Crude Oil: $58.02 (+$1.19, +2.11%)
Crude oil prices advanced for the third straight session on optimism over U.S. glut is waning. The immediate resistance is located at US$60.

Gold: $1,291.47 (-$0.65, -0.05%)
Gold prices advanced on the back of the selloff in Chinese bond and equities. The immediate support will be pegged around US$1,250.

Economic Releases:
MY - Malaysia's Inflation Rate, 12.00PM

Bursa Malaysia Trade Statistics - 23 Nov 17
Institutions:  Net BUY 50.0 mln (60.7%)
Retail:  Net SELL 58.5 mln (23.4%)
Foreign:  Net BUY 8.5 mln (15.9%)

Potential Momentum Stocks - 24 Nov 17 
Stock Name: FGV (5222)
Entry: Buy above RM1.80
Target: RM1.93 (7.2%), RM2.05 (13.9%)
Stop: RM1.72 (-4.4%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: CAB (7174)
Entry: Buy above RM1.08
Target: RM1.15 (6.5%), RM1.20 (11.1%)
Stop: RM1.02 (-5.6%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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