KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Fri, 13 Dec 2019, 8:52 AM


Daily Market Update - 28 Dec 2018 (KGB, RANHILL)

Author:   |    Publish date:

Dow Jones: 23,138.82 pts (+260.37pts, +1.14%)
The eleventh hour surge sent U.S. stockmarkets to recover all their intraday losses as the Dow jumped 1.1% higher, after Deputy U.S. Trade Representative Jeffrey Gerrish will travel to China for the upcoming trade talks in the week of 7th January 2019. The immediate resistance is located at 23,500.

FBM KLCI: 1,690.72 pts (+18.12pts, +1.08%)
Tracking the sharp gains on Wall Street overnight, the FBM KLCI (+1.2%) gapped up to recover all its previous session losses yesterday. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,105 (+RM11, +0.53%)
Crude palm oil prices snapped a four-day losing streak, boosted by the rally in crude oil prices overnight. The immediate support is located around RM2100.

WTI Crude Oil: $44.61 (-$1.61, -3.54%)
Crude oil prices gave up some of its previous session sharp gains, dragged down by the unexpected build-up of U.S. inventory data. The immediate resistance is located at US$50.

Gold: $1,275.71 (+$8.57, +0.68%)
Gold prices rebounded as the recent volatility sparks demand for safe haven assets. The immediate resistance is located around $1,280.

Economic Releases:
JP - Japan's Unemployment Rate, 7.30AM
JP - Japan's Retail Sales, 7.50AM
JP - Japan's Industrial Production, 7.50AM

Potential Momentum Stocks - 28 Dec 18 
Stock Name: KGB (0151)
Entry: Buy above RM0.965
Target: RM1.10 (14.0%), RM1.17 (21.2%)
Stop: RM0.90 (-6.7%)
Shariah: Yes
Technical: Consolidation breakout

Stock Name: RANHILL (5272)
Entry: Buy above RM1.17
Target: RM1.25 (6.8%), RM1.33 (13.7%)
Stop: RM1.12 (-4.3%)
Shariah: Yes
Technical: Breakout-pullback-continuation

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 
KGB 1.30 0.00 (0.00%) 234,700 
RANHILL 1.11 0.00 (0.00%) 149,600 

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