KLSE Traders Update and Ideas

Daily Market Update - 28 Nov 2017 (REXIT, JOHAN)

mplus313
Publish date: Tue, 28 Nov 2017, 08:32 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 23,580.78 pts (+22.79pts, +0.10%)
U.S. stockmarkets ended mixed as the Dow gained 0.1% on gains in retail shares, but the S&P fell 0.04%. The immediate resistance is located at 23,750.

FBM KLCI: 1,719.86 pts (+2.63pts, +0.15%)
The FBM KLCI (+0.2%) recouped all its intraday losses as the key index was shored higher on last minute buying support in selective index heavyweights. The immediate resistance is located at 1,730.

Crude Palm Oil: RM2,589 (-RM41, -1.56%)
Crude palm oil prices fell to 3-months low, in tandem with weaknesses in other edible oils. The immediate support is envisaged around RM2,500.

WTI Crude Oil: $58.11 (-$0.84, -1.42%)
Crude oil prices formed a bearish engulfing candle and subsequently snapped a streak of three straight wins . The immediate resistance is located at US$60.

Gold: $1,294.52 (+$6.15, +0.48%)
Gold prices advanced but remains in the consolidation mode. The immediate support will be pegged around US$1,250.

Bursa Malaysia Trade Statistics - 27 Nov 17
Institutions:  Net SELL 81.3 mln (57.2%)
Retail:  Net SELL 10.9 mln (18.9%)
Foreign:  Net BUY 92.2 mln (23.9%)

Potential Momentum Stocks - 28 Nov 17 
Stock Name: REXIT (0106)
Entry: Buy above RM0.835
Target: RM0.865 (3.6%), RM0.89 (6.6%)
Stop: RM0.80 (-4.2%)
Shariah: No
Technical: Trendline breakout

Stock Name: JOHAN (3441)
Entry: Buy above RM0.28
Target: RM0.305 (8.9%), RM0.325 (16.1%)
Stop: RM0.26 (-7.1%)
Shariah: No
Technical: Bullish engulfing candle

Source: Bloomberg, M+ Online

 

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