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KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Thu, 17 Oct 2019, 5:40 PM

 

Daily Market Update - 8 Feb 2019 (COMFORT, MBSB)

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Dow Jones: 25,169.53 pts (-220.77pts, -0.87%)
U.S. stockmarkets extended their losses as the Dow slipped 0.9% overnight on renewed concern over trade uncertainty after U.S. President Donald Trump and China's President Xi Jinping would not meetup ahead of the March 2019 deadline. The immediate resistance is located at 25,500.

FBM KLCI: 1,693.39 pts (+9.78pts, +0.58%)
The FBM KLCI (+0.6%) extended its gains to form a bullish harami candle as the key index closed at its intraday high of 1,693.39 level yesterday. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,318 (+RM12, +0.52%)
Crude palm oil prices advanced to close at its highest level in seven month on expectation that the oversupply glut is easing. The immediate resistance is located around RM2,350.

WTI Crude Oil: $52.64 (-$1.37, -2.53%)
Crude oil prices extended its losses, dragged down by dour signs over trade truce between U.S. and China. The immediate resistance is located at US$55.

Gold: $1,310.11 (+$3.51, +0.27%)
Gold prices recovered some of its previous session losses, boosted by increasing demand for safe haven assets. The immediate resistance is located around $1,350.

Potential Momentum Stocks - 8 Feb 19 
Stock Name: COMFORT (2127)
Entry: Buy above RM0.87
Target: RM0.915 (5.2%), RM0.96 (10.3%)
Stop: RM0.83 (-4.6%)
Shariah: Yes
Technical: Flag-formation breakout

Stock Name: MBSB (1171)
Entry: Buy above RM1.02
Target: RM1.08 (5.9%), RM1.13 (10.8%)
Stop: RM0.975 (-4.4%)
Shariah: No
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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Labels: COMFORT, MBSB

Related Stocks

Chart Stock Name Last Change Volume 
COMFORT 0.78 0.00 (0.00%)
MBSB 0.84 0.00 (0.00%)

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