KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Fri, 18 Jan 2019, 05:56 PM


Daily Market Update - 8 Jan 2019 (DRBHCOM, AIRASIA)

Author:   |    Publish date:

Dow Jones: 23,531.35 pts (+98.19pts, +0.42%)
U.S. stockmarkets edged higher as the Dow gained 0.4%, boosted by optimism over the two-day trade talks with China. The immediate resistance is located at 24,000.

FBM KLCI: 1,679.17 pts (+9.39pts, +0.56%)
The FBM KLCI (+0.6%) recovered all it previous session losses, taking cue from the positive developments on Wall Street last Friday. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,160 (-RM12, -0.55%)
Crude palm oil prices retreated after the Ringgit appreciated against the Greenback. The immediate support is located around RM2100.

WTI Crude Oil: $48.52 (+$0.56, +1.17%)
Crude oil prices advanced for the sixth straight session to mark its longest winning streak in 17 months as the potential trade deal between U.S. and China may ease the supply glut. The immediate resistance is located at US$50.

Gold: $1,289.21 (+$3.16, +0.25%)
Gold prices rebounded after the Greenback depreciated against a basket of currencies. The immediate resistance is located around $1,300.

Economic Releases:
EU - Eurozone's Business Confidence, 6.00PM
EU - Eurozone's Services Sentiment, 6.00PM
EU - Eurozone's Consumer Confidence, 6.00PM
EU - Eurozone's Economic Sentiment, 6.00PM
EU - Eurozone's Industrial Sentiment, 6.00PM

Potential Momentum Stocks - 8 Jan 19 
Stock Name: DRBHCOM (1619)
Entry: Buy above RM1.72
Target: RM1.82 (5.8%), RM1.93 (12.2%)
Stop: RM1.66 (-3.5%)
Shariah: No
Technical: Flag-formation breakout

Stock Name: AIRASIA (5099)
Entry: Buy above RM2.94
Target: RM3.18 (8.2%), RM3.32 (12.9%)
Stop: RM2.83 (-3.7%)
Shariah: No
Technical: Flag-formation 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 
DRBHCOM 1.67 -0.12 (6.70%) 10,253,700 
AIRASIA 3.04 -0.01 (0.33%) 3,216,200 

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