KLSE Traders Update and Ideas

Daily Market Update - 11 Dec 2017 (KGB, HLT)

mplus313
Publish date: Mon, 11 Dec 2017, 08:31 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,329.16 pts (+117.68pts, +0.49%)
Wall Street nudged higher, taking cue from the positive development in Eurozone as the Dow gained (+0.5%). The immediate resistance is located at 24,500.

FBM KLCI: 1,721.25 pts (+2.20pts, +0.13%)
The FBM KLCI (+0.1%) extended its gains in line with the positive performance across key regional indices on last Friday. The immediate resistance is located at 1,730.

Crude Palm Oil: RM2,479 (-RM23, -0.92%)
Crude palm oil prices slipped for the fifth straight session, recording its longest weekly losing streak over the past two years. The immediate support is envisaged around RM2,400.

WTI Crude Oil: $57.36 (+$0.67, +1.18%)
Crude oil prices extended its gains on optimism over potential earlier-than-expected rebalancing. The immediate resistance is located at US$60.

Gold: $1,248.49 (+$1.27, +0.10%)
Gold prices halted its fourth straight session of decline but recorded its worst week since May 2017. The immediate support will be pegged around US$1,200.

Bursa Malaysia Trade Statistics - 8 Dec 17
Institutions:  Net SELL 202.4 mln (60.3%)
Retail:  Net BUY 42.9 mln (18.1%)
Foreign:  Net BUY 159.5 mln (21.6%)

Potential Momentum Stocks - 11 Dec 17 
Stock Name: KGB (0151)
Entry: Buy above RM0.77
Target: RM0.845 (9.7%), RM0.90 (16.9%)
Stop: RM0.71 (-7.8%)
Shariah: Yes
Technical: Symmetrical triangle formation breakout

Stock Name: HLT (0188)
Entry: Buy above RM0.57
Target: RM0.645 (13.2%), RM0.67 (17.5%)
Stop: RM0.525 (-7.9%)
Shariah: Yes
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

 

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