KLSE Traders Update and Ideas

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


Daily Market Update - 9 Jan 2019 (GCB, SUPERLN)

Author:   |    Publish date:

Dow Jones: 23,787.45 pts (+256.10pts, +1.09%)
U.S. stockmarkets extended its gains as the Dow jumped 1.1%, boosted by optimism over the trade talks between U.S. and China. The immediate resistance is located at 24,000.

FBM KLCI: 1,672.76 pts (-6.41pts, -0.38%)
The FBM KLCI (-0.4%) gave up some of its previous session gains on weakness in glove manufacturing blue chip companies yesterday. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,178 (+RM18, +0.83%)
Crude palm oil prices rebounded on expectation that production might have peaked and demand is set to improve. The immediate support is located around RM2100.

WTI Crude Oil: $49.78 (+$1.26, +2.60%)
Crude oil prices extended its gains for the seventh continuous session, spurred by optimism over trade talks between U.S. and China. The immediate resistance is located at US$50.

Gold: $1,285.39 (-$3.82, -0.30%)
Gold prices retreated as demand for safe haven assets fell. The immediate resistance is located around $1,300.

Economic Releases:
CN - China's Inflation Rate, 9.30AM
CN - China's Producer Price Index, 9.30AM
EU - Eurozone's Unemployment Rate, 6.00PM

Potential Momentum Stocks - 9 Jan 19 
Stock Name: GCB (5102)
Entry: Buy above RM2.86
Target: RM3.10 (8.4%), RM3.25 (13.6%)
Stop: RM2.64 (-7.7%)
Shariah: No
Technical: Monitor for trendline breakout

Stock Name: SUPERLN (7235)
Entry: Buy above RM1.20
Target: RM1.30 (8.3%), RM1.38 (15.0%)
Stop: RM1.15 (-4.2%)
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 
GCB 2.94 +0.02 (0.68%) 250,800 
SUPERLN 1.25 +0.01 (0.81%) 44,200 

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