Highlights

KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Wed, 22 Jan 2020, 5:14 PM

 

Daily Market Update - 31 Oct 2019 (JAKS, OCK)

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Dow Jones: 27,186.69 pts (+115.27pts, +0.43%)
U.S. stockmarkets were powered higher as the Dow rose 0.4% following the U.S. Federal Reserve move to cut its benchmark interest rate by 25 basis points and signals a more dovish stance on future interest rate direction. The immediate resistance is located at 27,300.

FBM KLCI: 1,580.00 pts (+2.21pts, +0.14%)
The FBM KLCI (+0.1%) trended higher after enduring a choppy trading session on the rising Ringgit against the Greenback, coupled with the higher crude palm oil prices. The immediate resistance is located at 1,600.

Crude Palm Oil: RM2,496 (+RM79, +3.27%)
Crude palm oil prices registered its' sixth straight session to close at 17-months high on rising demand of biofuel in Malaysia and Indonesia. The immediate resistance is located around RM2,550.

WTI Crude Oil: $55.06 (-$0.48, -0.86%)
Crude oil prices trended lower for the third straight session on renewed concern over Sino-U.S. trade deal. The immediate resistance is located at US$58.

Gold: $1,495.66 (+$7.94, +0.53%)
Gold prices rebounded after the Greenback retreated against a basket of currencies following the U.S. Federal Reserve move to trim their benchmark interest rate. The immediate support is located around $1,450.

Economic Releases:
CN - China's NBS Manufacturing PMI, 9.00AM
CN - China's Non-Manufacturing PMI, 9.00AM
JP - Japan's Bank of Japan's Interest Rate Decision, 11.00AM
MY - Malaysia's Producer Price Index, 12.00PM
EU - Eurozone's Unemployment Rate, 6.00PM

M+ Online Technical Trading Stocks - 31 Oct 19

Stock Name: JAKS (4723)
Entry: Buy above RM0.965
Target: RM1.02 (5.7%), RM1.07 (10.9%)
Stop: RM0.925 (-4.1%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: OCK (0172)
Entry: Buy above RM0.62
Target: RM0.665 (7.3%), RM0.695 (12.1%)
Stop: RM0.595 (-4.0%)
Shariah: Yes
Technical: Monitor for 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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Labels: JAKS, OCK

Related Stocks

Chart Stock Name Last Change Volume 
JAKS 1.44 +0.03 (2.13%) 11,852,500 
OCK 0.59 0.00 (0.00%) 2,132,300 

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