KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Wed, 20 Feb 2019, 06:09 PM


Daily Market Update - 24 Dec 2018 (GCB, ELSOFT)

Author:   |    Publish date:

Dow Jones: 22,445.37 pts (-414.23pts, -1.81%)
Wall Street continue to tank last Friday as the Dow slipped 1.8% to mark its worst weekly decline since 2008 on fear over economic slowdown, political instability from Brexit and a looming U.S. government shutdown. The immediate support is located at 22,000.

FBM KLCI: 1,670.28 pts (+19.72pts, +1.19%)
The FBM KLCI (+1.2%) closed sharply higher to recover all its weekly losses, bucking the mostly negative sentiment across its regional peers on last Friday. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,157 (-RM28, -1.28%)
Crude palm oil prices extended its losses, taking cue from the weakness in soybean oil prices. The immediate support is located around RM2100.

WTI Crude Oil: $45.59 (-$0.29, -0.63%)
Crude oil prices extended its losses as the number of U.S. oil rigs rose to 1080 last week. The immediate support is located at US$40.

Gold: $1,256.94 (-$2.92, -0.23%)
Gold prices retreated after the U.S. Dollar advanced against a basket of currencies. The immediate resistance is located around $1,280.

Potential Momentum Stocks - 24 Dec 18 
Stock Name: GCB (5102)
Entry: Buy above RM2.79
Target: RM3.07 (10.0%), RM3.20 (14.7%)
Stop: RM2.59 (-7.2%)
Shariah: No
Technical: Monitor for breakout

Stock Name: ELSOFT (0090)
Entry: Buy above RM1.11
Target: RM1.21 (9.0%), RM1.29 (16.2%)
Stop: RM1.05 (-5.4%)
Shariah: Yes
Technical: Bullish harami candle

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 
GCB 3.56 0.00 (0.00%)
ELSOFT 1.16 0.00 (0.00%)

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