M+ Online Morning Buzz – 29Nov16

Dow Jones: 19,097.90 pts (-54.24pts, -0.28%)
U.S. stockmarkets retreated from their all-time high levels as the Dow snapped a streak of four consecutive winning days after banking shares slipped.

FBM KLCI: 1,628.66 pts (+1.40pts, +0.09%)
The FBM KLCI extended its gains yesterday owing to the buying support in selective index heavyweights. The immediate resistance level is located around the 1,630 level.

Crude Palm Oil: RM3,077 (+RM45, +1.48%)
Crude palm oil prices rose to four-years high, lifted by the weakness in Ringgit Malaysia against the Greenback. The RM3,100 level will serve as the next resistance level.

WTI Crude Oil: $47.08 (+$0.66, +1.43%)
Crude oil prices staged a sharp recovery after Iraq has agreed to join other OPEC members in relation to a potential supply cut deal. Crude oil prices might trend between the US$43-US$50 levels.

Gold: $1,194.00 (+$10.44, +0.88%)
Gold prices closed higher on renewed volatility in the equities market. The US$1,200 level will serve as the next resistance level.

Economic Releases:
JP – Japan’s Unemployment Rate – 29Nov16, 7.30AM
EU – Eurozone’s Business Confidence – 29Nov16, 6.00PM
Bursa Malaysia Trade Statistics – 28Nov16
Institutions: Net BUY 47.9 mln (59.4%)
Retail: Net SELL 3.2 mln (17.2%)
Foreign: Net SELL 44.7 mln (23.4%)

Potential Momentum Stocks – 29Nov16
Stock Name: WILLOW (0008)
Entry: Buy above RM0.77
Target: RM0.81 (5.2%), RM0.855 (11.0%)
Stop: RM0.74 (-3.9%)
Shariah: Yes
Technical: Sideways consolidation breakout

Stock Name: UNIMECH (7091)
Entry: Buy above RM1.130
Target: RM1.23 (8.8%), RM1.34 (18.6%)
Stop: RM1.07 (-5.3%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online


Uob Kay Hian Daily Top Pick,

Mieco, 5001
Close, 1.23
Buy TP, 1.33, 1.47
Support, 1.12
SL, 1.11

Time Frame, 2 Weeks to 2 Months

Mfcb, 3069
Close, 2.36
Buy, TP, 0 2.54, 2.61
Support, 2.17
SL, 2.16
Time frame 2 weeks to 2 months

Jtiasa, 4383
Close, 1.43
Breakout, 1.47
Buy TP, 1.60, 1.68
Support, 1.30
SL, 1.29
Time frame, 2 weeks to 2 months



BursaKakis Channel :
BKs Technical Ideas 29/11/2016

1) Arank
2) Accsoft

Kindly refer to charts posted in BKs Channel.

Our Telegram Link: telegram.me/bursakakis

Our Facebook Link : https://www.facebook.com/groups/192414771167397/

DISCLAIMER: The comments here are for sharing and learning purposes and do not represent a recommendation to buy or sell. Kindly consult your remisiers or dealers before you take any action. Thank you.

Karex, Barakah, Manulife, Tan Chong Motors, UMWOG, TH Plantations, AWC, Scomi Group, MCT, Multi-Usage and TRC Synergy | The Edge Markets



Market News Roundup

1⃣ TRC said it has received a notice of termination from MMC Gamuda KVMRT SB for works related to the new Sg Buloh-Serdang-Putrajaya MRT Line 2.

Financial Result Highlight

KAREX expects revenue contribution from the Europe market to double in FY17, thanks to its newly-acquired UK subsidiary, Pasante Healthcare Ltd.

BARAKAH registered a net profit of RM1.97m compared with a net loss of RM15.44m a year ago, as a result of the cost reduction exercise that was implemented since the beginning of FY16.

MANULIFE’s net profit fell by 20.8% to RM12.64m in 3QFY16, result from a low interest environment, worsening claims experience, high medical costs and channel distribution expansion costs.

TCHONG posted a 3rd quarterly net loss of RM4.5m in 3QFY16 compared with a net profit of RM29.18m a year ago, mainly impacted by forex rates and the weaker ringgit.

THPLANT’s 3Q net profit jumped 210% to RM19.18m from RM6.19m a year earlier, on higher average prices for oil palm fresh fruit bunch, palm kernel and crude palm oil.

AWC’s net profit increased >4x to RM5.44m (2.1 sen/share) in 1QFY17 due to higher revenue contributions.

Sources: theedgemarkets.com ; thestar.com

29th November, 2016 Overnight Markets Roundup

DJIA : 19,097.90 (-54.24)
S&P500 : 2,201.72 (-11.63)
NASDAQ : 5,368.81 (-30.11)
VIX : 13.15 (+0.81)
US stocks declined for their worst performance in nearly a month, weighed down by a pullback in the financial and consumer discretionary sectors as some investors booked profits on the heels of a record-setting week.

FTSE : 6,799.47 (-41.28)
DAX : 10,582.67 (-116.60)
CAC 40 : 4,510.39 (-39.88)
European shares fell, weighed down by a drop in banks which were led lower by Italian lenders on continued worries over a cash call at troubled lender Monte dei Paschi.

SHANGHAI : 3,277.10 (+15.16)
HSI : 22,830.57 (+107.12)
China’s blue-chip Index rose, with upbeat industrial profit data strengthening belief that the Chinese economy has bottomed out, making risk assets such as equities more attractive than bonds.

Nikkei : 18,356.89 (-24.33)
Japanese shares erased early losses as domestic investors scooped up financials and defensive shares, helping the broader Topix index to log a rise for a 12th consecutive day.

KLCI : 1,628.66 (+1.40)
Fund buying of Maxis, Genting Msia & Sime shored up the KLCI slightly but the broader market was cautious due to the weak ringgit.

WTI : 46.91
Brent : 48.99
Oil prices pared gains after a source said OPEC experts ended their meeting on Monday without agreeing on concrete details of a planned reduction in oil output by individual countries.

GOLD : 1,193.00
Gold prices rose more than 1%, as the dollar and long-dated US Treasury bond yields retreated from recent highs.

USD/MYR : 4.4615
EUR/MYR : 4.7352
GBP/MYR : 5.5392
AUD/MYR : 3.3380
HKD/MYR : 0.5752
SGD/MYR : 3.1329
USD/JPY : 111.93
Msia 10 yr Bond Yield : 4.346%
US 10 yr Bond Yield : 2.312%

Retail (17.2%) – net SELL RM3.17M
Institution (59.4%) – net BUY RM47.91M
Foreign (23.4%) – net SELL RM44.74M
Total traded value RM1.435B

Sources: investing.com, cnbc.com, reuters.com, bloomberg.com, barrons.com, klsescreener.com, theedgemarkets.com & thestar.com


The Bursa Analyst Channel:
Stocks to monitor 29/11/2016:

TDM (result play)
GUNUNG (rumour play)
ECONBHD (rumour play)

All the best.


Logic Trading Analysis Channel:


Dear All,

The FBMKLCI closed higher at +1.4 point or +0.09% to close at 1628.66.

FBMKLCI sideways at bottom have some support again with very low gear, not much high speed trading happen yet, mean we still need to wait if want to play short term.

DJIA break new high last week, any correction is healthy at the moment, as long as not a big crashing down movement.

We remain stay and watch until market turn strong.

Welcome to our live channel :
https://telegram.me/ltachannel !

A Journey of a Millions Miles must begin with a Single Click this Tuesday! !

“Goreng Tetap Goreng” !

Yours Sincerely,
Logic Trading Analysis

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