KLSE Traders Update and Ideas

Daily Market Update - 27 Nov 2017 (MBL, CHINWEL)

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Publish date: Mon, 27 Nov 2017, 08:58 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 23,557.99 pts (+31.81pts, +0.14%)
U.S. stockmarkets advanced as the Dow added 0.1% on strong online sales in major retailers whilst the S&P closed above the 2,600 psychological level. The immediate resistance is located at 23,750.

FBM KLCI: 1,717.23 pts (-4.04pts, -0.23%)
The FBM KLCI (-0.1%) retreated, but managed to recoup most of its intraday losses on last Friday, forming a hammer candle. The immediate resistance is located at 1,730.

Crude Palm Oil: RM2,630 (+RM21, +0.80%)
Crude palm oil prices rebounded after the Ringgit halted a five consecutive session of winning streak against the Greenback. The immediate support is envisaged around RM2,600.

WTI Crude Oil: $58.95 (+$0.93, +1.60%)
Crude oil prices extended its gains after United Arab Emirates Energy Minister pledge its support for OPEC to extend production cut. The immediate resistance is located at US$60.

Gold: $1,288.37 (-$3.10, -0.24%)
Gold prices retreated after the U.S. Dollar appreciated against a basket of currencies. The immediate support will be pegged around US$1,250.

Economic Releases:
US - United States' New Home Sales, 11.00PM

Bursa Malaysia Trade Statistics - 24 Nov 17
Institutions:  Net BUY 33.5 mln (65.3%)
Retail:  Net BUY 28.9 mln (17.6%)
Foreign:  Net SELL 62.4 mln (17.1%)

Potential Momentum Stocks - 27 Nov 17 
Stock Name: MBL (5152)
Entry: Buy above RM1.30
Target: RM1.43 (10.0%), RM1.50 (15.4%)
Stop: RM1.26 (-3.1%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: CHINWEL (5007)
Entry: Buy above RM1.78
Target: RM1.85 (3.9%), RM1.94 (9.0%)
Stop: RM1.72 (-3.4%)
Shariah: Yes
Technical: Symmetrical triangle formation breakout

Source: Bloomberg, M+ Online

 

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