KLSE Traders Update and Ideas

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


Daily Market Update - 4 Mar 2019 (OCK, KGB)

Author:   |    Publish date:

Dow Jones: 26,026.32 pts (+110.32pts, +0.43%)
U.S. stockmarkets started off the month on a bullish note as the Dow rose 0.4%, boosted by the declining trade tension between U.S. and China, whilst the S&P 500 advanced to close above the 2,800 psychological level last Friday. The immediate resistance is located at 26,300.

FBM KLCI: 1,700.76 pts (-6.97pts, -0.41%)
The FBM KLCI (-0.4%) extended its losses in tandem with the weakness across regional peers last Friday. The immediate resistance is located at 1,740.

Crude Palm Oil: RM2,189 (+RM68, +3.21%)
Crude palm oil prices halted a four-day losing streak after Malaysia has set to limit plantation to 6.0 mln ha. for 2019 - capping the second largest world supply. The immediate resistance is located around RM2,200.

WTI Crude Oil: $55.80 (-$1.42, -2.50%)
Crude oil prices formed a bearish candle, erasing most of its previous rally as U.S. sets to ramp up their production. The immediate resistance is located at US$60.

Gold: $1,293.44 (-$19.88, -1.52%)
Gold prices retreated after the U.S. Dollar retreated against a basket of currencies amid the dovish U.S. Federal Reserve stance. The immediate resistance is located around $1,350.

Potential Momentum Stocks - 4 Mar 19
Stock Name: OCK (0172)
Entry: Buy above RM0.56
Target: RM0.61 (8.9%), RM0.64 (14.3%)
Stop: RM0.525 (-6.3%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: KGB (0151)
Entry: Buy above RM1.26
Target: RM1.34 (6.3%), RM1.40 (11.1%)
Stop: RM1.21 (-4.0%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Source: Bloomberg, M+ Online



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Labels: OCK, KGB

Related Stocks

Chart Stock Name Last Change Volume 
OCK 0.585 +0.01 (1.74%) 1,839,700 
KGB 1.26 -0.04 (3.08%) 1,668,800 

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