KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Fri, 24 Jan 2020, 2:13 PM


Daily Market Update - 7 Feb 2019 (NYLEX, NADIBHD)

Author:   |    Publish date:

Dow Jones: 25,390.30 pts (-21.22pts, -0.08%)
U.S. stockmarkets retreated as the Dow fell 0.1%, dragged down by the concern over Congress to reach a deal on keeping the government open. The immediate resistance is located at 25,500.

FBM KLCI: 1,683.61 pts (+0.08pts, +0.00%)
The FBM KLCI (+0.00%) halted a four day losing streak after hovering in the positive territory for the entire trading session on the eve of the Lunar New Year break. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,306 (+RM7, +0.30%)
Crude palm oil prices rebounded on expectation over declining inventory level in January 2019. The immediate resistance is located around RM2,350.

WTI Crude Oil: $53.66 (-$0.90, -1.66%)
Crude oil prices retreated after the International Energy Association reported that U.S. oil inventory rose last week. The immediate resistance is located at US$60.

Gold: $1,306.60 (-$8.72, -0.66%)
Gold prices formed a bearish candle after the Greenback appreciated against a basket of currencies. The immediate resistance is located around $1,350.

Economic Releases:
UK - United Kingdom's Bank of England's Interest Rate Decision, 8.00PM
UK - United Kingdom's Bank of England's Quantitative Easing, 8.00PM

Potential Momentum Stocks - 7 Feb 19 
Stock Name: NYLEX (4494)
Entry: Buy above RM0.70
Target: RM0.735 (5.0%), RM0.80 (14.3%)
Stop: RM0.665 (-5.0%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: NADIBHD (0206)
Entry: Buy above RM0.25
Target: RM0.27 (8.0%), RM0.285 (14.0%)
Stop: RM0.235 (-6.0%)
Shariah: Yes
Technical: Consolidation breakout

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 
NYLEX 0.615 +0.02 (3.36%) 1,000 
NADIBHD 0.28 0.00 (0.00%) 595,000 

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