KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Fri, 25 Sep 2020, 5:03 PM


Daily Market Update - 2 Jan 2019 (ELSOFT, EDGENTA)

Author:   |    Publish date:

Dow Jones: 23,327.46 pts (+265.06pts, +1.15%)
U.S. stockmarkets were powered higher on the final trading day of 2018 as the Dow jumped 1.2%, boosted by optimism that U.S. President Donald Trump will move toward a trade deal with China. Still, the Dow fell 5.6% Y.o.Y in 2018. The immediate resistance is located at 23,500.

FBM KLCI: 1,690.58 pts (-1.49pts, -0.09%)
The FBM KLCI (-0.1%) declined after retreating into the negative territory in the second half of the trading session on Monday as the key index fell 5.9% Y.o.Y in 2018. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,121 (RM0, 0.00%)
Crude palm oil prices closed flat after erasing all its intraday gains. The immediate support is located around RM2050.

WTI Crude Oil: $45.41 (+$0.08, +0.18%)
Crude oil prices advanced for the third straight session on optimism over OPEC and its allies’ production cut. The immediate resistance is located at US$50.

Gold: $1,282.60 (+$0.11, +0.01%)
Gold prices recorded its third day winning streak after the Greenback depreciated against a basket of currencies. The immediate resistance is located around $1,280.

Economic Releases:
MY - Malaysia's Nikkei Manufacturing PMI, 8.30AM
CN - China's Caixin Manufacturing PMI, 9.45AM
EU - Eurozone's Markit Manufacturing PMI, 5.00PM
US - United States' Markit Manufacrturing PMI, 10.45PM

Potential Momentum Stocks - 2 Jan 19 
Stock Name: ELSOFT (0090)
Entry: Buy above RM1.05
Target: RM1.13 (7.6%), RM1.21 (15.2%)
Stop: RM1.00 (-4.8%)
Shariah: Yes
Technical: Trendline breakout

Stock Name: EDGENTA (1368)
Entry: Buy above RM2.700
Target: RM2.880 (6.7%), RM3.000 (11.1%)
Stop: RM2.540 (-5.9%)
Shariah: Yes
Technical: Symmetrical triangle formation breakout

Source: Bloomberg, M+ Online



The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

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 
ELSOFT 0.615 -0.005 (0.81%) 789,100 
EDGENTA 2.02 0.00 (0.00%) 378,600 

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