M+ Online Morning Buzz - 8 Dec 17

Dow Jones: 24,211.48 pts (+70.57pts, +0.29%)
U.S. stockmarkets rebounded as the Dow (+0.3%) recovered all its previous session losses as investors wait for further developments on overhaul in the U.S. tax system. The immediate resistance is located at 24,500.

FBM KLCI: 1,719.05 pts (+0.72pts, +0.04%)
The FBM KLCI (+0.04%) edged marginally higher after erasing most of its intraday gains yesterday. The immediate resistance is located at 1,730.

Crude Palm Oil: RM2,502 (-RM33, -1.30%)
Crude palm oil prices fell for the fourth consecutive session in line with the weakness in soybean oil coupled with sluggish demand. The immediate support is envisaged around RM2,500.

WTI Crude Oil: $56.69 (+$0.73, +1.30%)
Crude oil prices rebounded on supply disruption fears in Nigeria. The immediate resistance is located at US$60.

Gold: $1,247.22 (-$16.15, -1.28%)
Gold prices sank for the third straight session as demand for safe haven assets fades. The immediate support will be pegged around US$1,200.

Economic Releases:
JP - Japan's 3Q2017 GDP Growth Rate, 7.50AM
US - United States' Unemployment Rate, 9.30PM

Bursa Malaysia Trade Statistics - 7 Dec 17
Institutions:  Net SELL 87.0 mln (60.2%)
Retail:  Net BUY 50.5 mln (15.6%)
Foreign:  Net BUY 36.5 mln (24.2%)

Potential Momentum Stocks - 8 Dec 17 
Stock Name: GKENT (3204)
Entry: Buy above RM3.47
Target: RM3.80 (9.5%), RM4.00 (15.3%)
Stop: RM3.30 (-4.9%)
Shariah: Yes
Technical: Flag-formation breakout

Stock Name: MATRIX (5236)
Entry: Buy above RM2.22
Target: RM2.30 (3.6%), RM2.40 (8.1%)
Stop: RM2.16 (-2.7%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

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