KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Mon, 9 Dec 2019, 5:10 PM


Daily Market Update - 17 Dec 2018 (KOSSAN, MUIIND)

Author:   |    Publish date:

Dow Jones: 24,100.51 pts (-496.87pts, -2.02%)
U.S. stockmarkets took a beating last Friday as the Dow (-2.0%) sank into the correction territory, dragged down by fresh concern over global economic growth. The immediate resistance is located at 25,000.

FBM KLCI: 1,661.96 pts (-14.04pts, -0.84%)
The FBM KLCI (-0.8%) gapped down and subsequently trended lower after rejecting the EMA9 level last Friday. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,138 (+RM11, +0.52%)
Crude palm oil prices advanced for the third straight session after Indonesia's stockpile fell to seven months low. The immediate support is located around RM2000.

WTI Crude Oil: $51.20 (-$1.38, -2.63%)
Crude oil prices retreated as U.S. shale growth undermines OPEC plan cuts . The immediate resistance is located at US$55.

Gold: $1,239.02 (-$2.97, -0.24%)
Gold prices retreated after the Greenback appreciated against a basket of currencies. The immediate resistance is located around $1,250.

Economic Releases:
EU - Eurozone's Inflation Rate, 6.00PM

Potential Momentum Stocks - 17 Dec 18 
Stock Name: KOSSAN (7153)
Entry: Buy above RM4.43
Target: RM4.71 (6.3%), RM4.90 (10.6%)
Stop: RM4.20 (-5.2%)
Shariah: Yes
Technical: Monitor for trendline breakout

Stock Name: MUIIND (3891)
Entry: Buy above RM0.16
Target: RM0.175 (9.4%), RM0.19 (18.8%)
Stop: RM0.15 (-6.3%)
Shariah: No
Technical: Monitor for breakout

Source: Bloomberg, M+ Online



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The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.

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Related Stocks

Chart Stock Name Last Change Volume 
KOSSAN 4.13 +0.02 (0.49%) 1,276,700 
MUIIND 0.22 +0.005 (2.33%) 2,861,700 

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