KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Thu, 23 Jan 2020, 5:14 PM


Daily Market Update - 9 Dec 2019 (GHLSYS, SKPRES)

Author:   |    Publish date:

Dow Jones: 28,015.06 pts (+337.27pts, +1.22%)
U.S. stockmarkets rallied on last Friday as the Dow jumped 1.2%, boosted by solid jobs data that lead to unemployment rate falling to 3.5% - the lowest since 1969. The immediate resistance is located at 28,200.

FBM KLCI: 1,568.44 pts (+4.86pts, +0.31%)
The FBM KLCI (+0.3%) extended its gains to close in the positive weekly note, taking cue from gains across global equities. The immediate resistance is located at 1,580.

Crude Palm Oil: RM2,858 (+RM43, +1.53%)
Crude palm oil prices advanced for the fourth straight session amid expectations over tighter supply condition in coming months. The immediate resistance is located around RM2,850.

WTI Crude Oil: $59.20 (+$0.77, +1.32%)
Crude oil prices advanced to post its biggest weekly gain since June 20919 after OPEC and its allies plus Russia agreed for a deeper production cut to prop up prices. The immediate resistance is located at US$60.

Gold: $1,460.17 (-$15.83, -1.07%)
Gold prices trended sharply lower as investors turned their attention to riskier assets amid the strong U.S. jobs data. The immediate support is located around $1,400.

Economic Releases:
JP - Japan's 3Q2019 GDP Growth Rate, 7.50AM

M+ Online Technical Trading Stocks - 9 Dec 19

Stock Name: GHLSYS (0021)
Entry: Buy above RM1.38
Target: RM1.48 (7.2%), RM1.55 (12.3%)
Stop: RM1.32 (-4.3%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: SKPRES (7155)
Entry: Buy above RM1.26
Target: RM1.35 (7.1%), RM1.44 (14.3%)
Stop: RM1.19 (-5.6%)
Shariah: Yes
Technical: Symmetrical triangle formation 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 
GHLSYS 1.60 0.00 (0.00%) 2,954,200 
SKPRES 1.56 -0.01 (0.64%) 708,000 

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