KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Tue, 21 May 2019, 5:29 PM


Daily Market Update - 7 Jan 2019 (GFM, OPENSYS)

Author:   |    Publish date:

Dow Jones: 23,433.16 pts (+746.94pts, +3.29%)
U.S. stockmarkets closed sharply higher as the Dow surged 3.3%, boosted by the dovish comments from the U.S. Federal Reserve Chairman, Jerome Powell comments on interest rate hike outlook. The immediate resistance is located at 24,000.

FBM KLCI: 1,669.78 pts (-6.05pts, -0.36%)
The FBM KLCI (-0.4%) reversed some of its previous session gains on weakness in selected in index heavyweights. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,172 (+RM21, +0.98%)
Crude palm oil prices rebounded, taking cue from the higher soybean oil prices. The immediate support is located around RM2100.

WTI Crude Oil: $47.96 (+$0.87, +1.86%)
Crude oil prices recorded its fifth straight session of gains, lifted by the positive outlook from OPEC's production cuts. The immediate resistance is located at US$50.

Gold: $1,286.05 (-$8.23, -0.64%)
Gold prices halted a six-day winning streak as demand of safe haven assets dwindled. The immediate resistance is located around $1,300.

Economic Releases:
JP - Japan's Nikkei Services PMI, 8.30AM
EU - Eurozone's Retail Sales, 6.00PM
US - United States' ISM Non-Manufacturing PMI, 11.00PM

Potential Momentum Stocks - 7 Jan 19 
Stock Name: GFM (0039)
Entry: Buy above RM0.45
Target: RM0.485 (7.8%), RM0.51 (13.3%)
Stop: RM0.42 (-6.7%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: OPENSYS (0040)
Entry: Buy above RM0.295
Target: RM0.315 (6.8%), RM0.33 (11.9%)
Stop: RM0.275 (-6.8%)
Shariah: Yes
Technical: Resistance 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 
GFM 0.445 +0.01 (2.30%) 836,000 
OPENSYS 0.32 0.00 (0.00%) 178,800 

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