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KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Fri, 13 Dec 2019, 5:11 PM

 

Daily Market Update - 23 Jan 2019 (KGB, KPS)

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Dow Jones: 24,404.48 pts (-301.87pts, -1.22%)
U.S. stockmarkets snapped a four-day winning streak after U.S. officials turned down an offer by China to hold a preparatory meeting on trade negotiations. The immediate resistance is located at 25,000.

FBM KLCI: 1,702.12 pts (+9.90pts, +0.59%)
The FBM KLCI (+0.6%) marched higher for the third straight session, boosted by the eleventh hour buying support in selected index heavyweights yesterday. The immediate resistance is located at 1,730.

Crude Palm Oil: RM2,263 (+RM37, +1.66%)
Crude palm oil prices recorded its fifth consecutive session of gains to close at three-months high amid a brighter outlook on state of demand-supply. The immediate resistance is located around RM2250.

WTI Crude Oil: $53.01 (-$0.79, -1.47%)
Crude oil prices retreated on fresh concern over slowing economic growth will dampen demand. The immediate resistance is located at US$55.

Gold: $1,285.22 (+$4.75, +0.37%)
Gold prices rebounded as demand for safe haven assets improved. The immediate resistance is located around $1,300.

Economic Releases:
JP - Japan's Bank of Japan's Interest Rate Decision, 11.00AM
MY - Malaysia's Inflation Rate, 12.00PM

Potential Momentum Stocks - 23 Jan 19 
Stock Name: KGB (0151)
Entry: Buy above RM1.13
Target: RM1.23 (8.8%), RM1.28 (13.3%)
Stop: RM1.07 (-5.3%)
Shariah: Yes
Technical: Symmetrical triangle formation breakout

Stock Name: KPS (5843)
Entry: Buy above RM1.32
Target: RM1.41 (6.8%), RM1.47 (11.4%)
Stop: RM1.27 (-3.8%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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Labels: KGB, KPS

Related Stocks

Chart Stock Name Last Change Volume 
KGB 1.26 -0.04 (3.08%) 1,668,800 
KPS 0.725 +0.01 (1.40%) 199,200 

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