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KLSE Traders Update and Ideas

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

 

Daily Market Update - 6 Dec 2019 (SAMCHEM, SCICOM)

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Dow Jones: 27,677.79 pts (+28.01pts, +0.10%)
U.S. stockmarkets eked out mild gains as the Dow rose 0.1% after recovering all its' intraday losses, boosted by optimism surrounding U.S.-China trade progress. The immediate resistance is located at 28,200.

FBM KLCI: 1,563.58 pts (+2.65pts, +0.17%)
The FBM KLCI (+0.2%) advanced, taking cue from the recovery on Wall Street overnight, coupled with the higher CPO prices. The immediate resistance is located at 1,580.

Crude Palm Oil: RM2,815 (+RM42, +1.51%)
Crude palm oil prices trended higher for the third straight session, breaching above the RM2,800 per tonne level amid the expectations over lower stockpiles and falling production. The immediate resistance is located around RM2,850.

WTI Crude Oil: $58.43 ($0.00, 0.00%)
Crude oil prices ended on a flat note after reversing all its intraday gains on weakness on the conclusion of OPEC's meeting without any announcement of further cuts. The immediate resistance is located at US$60.

Gold: $1,476.00 (+$1.41, +0.10%)
Gold prices staged a mild recovery as investors continue to monitor for developments between U.S.-China trade talks. The immediate resistance is located around $1,500.

Economic Releases:
US - United States' Unemployment Rate, 8.30PM

M+ Online Technical Trading Stocks - 6 Dec 19

Stock Name: SAMCHEM (5147)
Entry: Buy above RM0.67
Target: RM0.74 (10.4%), RM0.765 (14.2%)
Stop: RM0.64 (-4.5%)
Shariah: No
Technical: Breakout-pullback-continuation

Stock Name: SCICOM (0099)
Entry: Buy above RM1.09
Target: RM1.15 (5.5%), RM1.24 (13.8%)
Stop: RM1.03 (-5.5%)
Shariah: No
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: SAMCHEM, SCICOM

Related Stocks

Chart Stock Name Last Change Volume 
SAMCHEM 0.69 -0.01 (1.43%) 50,200 
SCICOM 1.12 -0.01 (0.88%) 985,100 

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