September 29, 2017

Traders’ Almanac
Nasdaq 100 Index: Stronger
Base has been Established
 NASDAQ 100 INDEX – Uptrend likely to resume Analysts
 INARI AMERTRON – Buy on dips Nik Ihsan Raja Abdullah, MSTA, CFTe
 PENTAMASTER CORPORATION – Potential breakout (603) 2297 8694
nikmohdihsan.ra@maybank-ib.com
 CRUDE PALM OIL – Range bound trading
 KLCI INDEX FUTURES – Consolidating within support zones Tee Sze Chiah
(603) 2082 6858
TECHNICAL

Market Overview szechiah.t@maybank-ib.com

FBMKLCI fell 6.18pts to 1,758.06 yesterday after succumbed to

Market Summaries
another round of selling pressure led by declines in ASTRO,
Index Changes (%) Close Momentum
WPRTS and GENM. Market breadth turned negative with losers
outpacing gainers by 506 to 328. A total of 2.31b shares worth FBMKLCI (-0.35) 1,758.06 DOWN
DJIA 0.18 22,381.2 UP
MYR2.18b changed hands. FBMKLCI extended its losing streak to
MSCI W 0.22 1,992.36 UP
eighth consecutive day. But as the index is treading near its
MSCI AP (-0.68) 656.28 DOWN
support level, there is a glimpse of hope that bargain hunting may
FCPO (-1.53) 2,705 DOWN
surface today. That said, sentiment may stay lukewarm ahead of BRENT (-0.85) 57.41 NEUTRAL
Malaysia

the weekend break. O&G stock could mirror the weakness in oil GOLD 0.11 1,285.50 NEUTRAL
price overnight. Technically, we expect FBMKLCI to trade between USDMYR 0.24 4.2315 UP
1,755 and 1,775. Downside supports are 1,755 and 1,751.
(Sources: Bloomberg)

TODAY’S HIGHLIGHT – NASDAQ 100 INDEX, NEW BASE HAS BEEN ESTABLISHED, READY TO ROLL

Overall, Nasdaq 100 Index’s uptrend is still intact despite the consolidation for the past three months. Although
it had failed to swing past the resistance zones at 5,995-6,010, the index was holding well above its support
zone at between 5,750 and 5,780. Judging from this trend, we believe a stronger base has been established.
Note that the candles are also holding firm above the 90-day EMA line as well as the “Ichimoku Cloud”,
maintaining the overall bullish structure. Together with the positive Stochastic which has staged a bullish
crossover, we believe Nasdaq 100 Index is poised to resume the longer-term uptrend soon. A breakout above
6,010 could lift the index towards next resistance at 6,150. On the flip side, supports are 5,750 and 5,570.

THIS REPORT HAS BEEN PREPARED BY MAYBANK INVESTMENT BANK BERHAD PP16832/01/2013 (031128)
SEE PAGE 5 FOR IMPORTANT DISCLOSURES AND ANALYST CERTIFICATIONS
Technical Research

TRADING IDEAS

INARI AMERTRON BERHAD, DAILY CANDLESTICK CHART (MYR2.39)

STRATEGY:
ACCUMULATE (TECHNICAL)

Long-term outlook
remains positive as share
price still is still riding
along the “Ichimoku
Cloud”. With a reversal
pattern in sight and a
spike in volume, we
reckon that current
weakness is an
opportunity to buy.

ACCUMULATION LEVEL STOP-LOSS ESTIMATED RESISTANCE ESTIMATED TIMEFRAME

MYR2.35 ~ MYR2.40 BELOW MYR2.22 MYR2.64, MYR2.85 10 weeks

PENTAMASTER CORPORATION BERHAD CANDLESTICK CHART (MYR4.84)

STRATEGY:
ACCUMULATE (TECHNICAL)

Recent rebound from the

immediate support at
MYR4.46 indicates that
the previous uptrend is
about to resume. Despite
intermittent profit taking,
overall structure remains
positive as share price
stays above its 22-day EMA
line.

ACCUMULATION LEVEL STOP-LOSS ESTIMATED RESISTANCE ESTIMATED TIMEFRAME

MYR4.78~ MYR4.84 BELOW MYR4.46 MYR5.07, MYR5.69 8 weeks

September 29, 2017 2

Technical Research

COMMODITY & DERIVATIVES WATCH

CRUDE PALM OIL FUTURES (FCPO) ACTIVE CONTRACT, HOURLY CANDLESTICK CHART (MYR2,705)

INTRADAY TREND
EXPECTATION:

We use hourly chart to

analyse potential
movement of FCPO for
intraday trading.

FCPO opened lower before

treading in a tight range. As
Aroon indicator remains
neutral, we opine that
FCPO could continue its
sideways trend in the near-
term.

SUPPORT RESISTANCE SHORT-TERM MOMENTUM SHORT-TERM TREND

MYR2,685 MYR2,663 MYR2,718 MYR2,765 SIDEWAY DOWN

KLCI INDEX FUTURES, SPOT CONTRACT, HOURLY CANDLESTICK CHART (1,753.00)

INTRADAY TREND
EXPECTATION:

We use hourly chart to

analyse potential
movement of FKLI for
intraday trading.

Despite ongoing weakness,

FKLI managed to stay above
its immediate support. We
believe downside is rather
limited in the near-term.

SUPPORT RESISTANCE SHORT-TERM MOMENTUM SHORT-TERM TREND

1,751.00 1,745.00 1,769.50 1,777.00 REBOUND NEUTRAL

September 29, 2017 3