KLSE Traders Update and Ideas

Daily Market Update - 17 Jan 2018 (N2N, SUPERMX)

mplus313
Publish date: Wed, 17 Jan 2018, 08:29 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,792.86 pts (-10.33pts, -0.04%)
U.S. stockmarkets edged lower overnight as the Dow slipped 0.04% on weakness in commodity shares. The immediate resistance is located at 26,000.

FBM KLCI: 1,826.03 pts (+0.12pts, +0.01%)
Tracking the positive developments across regional indices, the FBM KLCI (+0.01%) managed to eke out marginal gains yesterday. The immediate resistance is located at 1,850.

Crude Palm Oil: RM2,518 (-RM38, -1.49%)
Crude palm oil prices retreated as gains were limited by the stronger Ringgit against the Greenback. The immediate resistance is envisaged around RM2,600.

WTI Crude Oil: $63.73 (-$0.57, -0.89%)
Crude oil prices halted a six straight session of wins after hitting the US$65 per barrel. The immediate resistance is located at US$65.

Gold: $1,338.41 (-$1.58, -0.12%)
Gold prices retreated amid the stronger U.S. Dollar against the Greenback. The immediate resistance will be pegged around US$1,350.

Economic Releases:
JP - Japan's Industrial Production, 12.30PM
EU - Eurozone's Inflation Rate, 6.00PM
US - United States' Industrial Production, 10.15PM

Bursa Malaysia Trade Statistics - 16 Jan 18
Institutions:  Net SELL 253.5 mln (51.9%)
Retail:  Net BUY 26.3 mln (30.1%)
Foreign:  Net BUY 227.2 mln (18.0%)

Potential Momentum Stocks - 17 Jan 18 
Stock Name: N2N (0108)
Entry: Buy above RM1.01
Target: RM1.14 (12.9%), RM1.20 (18.8%)
Stop: RM0.95 (-5.9%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: SUPERMX (7106)
Entry: Buy above RM2.31
Target: RM2.49 (7.8%), RM2.60 (12.6%)
Stop: RM2.16 (-6.5%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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