Highlights

KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Fri, 17 Jan 2020, 5:33 PM

 

Daily Market Update - 10 Dec 2019 (JAKS, LHI)

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Dow Jones: 27,909.60 pts (-105.46pts, -0.38%) U.S. stockmarkets retreated as the Dow slipped 0.4% overnight as investors turned their focus to the uncertainty over Sino-U.S. trade progress. The immediate resistance is located at 28,200.

FBM KLCI: 1,562.71 pts (-5.73pts, -0.37%) The FBM KLCI (-0.4%) started off the week on a dour note as the key index erased all its' previous session gains after the World Bank cuts Malaysia's economic growth to 4.5% (from 4.6%) for 2020. The immediate support is located at 1,550.

Crude Palm Oil: RM2,902 (+RM44, +1.54%) Crude palm oil prices registered its' fifth straight session of rally, but gains were capped by the European Union's decision to impose a five-year tariff on biodisel from Indonesia. The immediate resistance is located around RM2,900.

WTI Crude Oil: $59.02 (-$0.18, -0.30%) Crude oil prices retreated amid the weak Chinese exports data, underlying weakness in demand. The immediate resistance is located at US$60.

Gold: $1,461.68 (+$1.51, +0.10%) Gold prices rebounded as investors opted for safe haven assets amid the uncertainty ahead of the next wave of tariffs on Chinese goods. The immediate support is located around $1,400.

Economic Releases: CN - China's Inflation Rate, 9.30AM CN - China's Producer Price Index, 9.30AM UK - United Kingdom's Manufacturing Production, 5.30PM UK - United Kingdom's Industrial Production, 5.30PM  

M+ Online Technical Trading Stocks - 10 Dec 19

Stock Name: JAKS (4723) Entry: Buy above RM1.29 Target: RM1.39 (7.8%), RM1.43 (10.9%) Stop: RM1.21 (-6.2%) Shariah: Yes Technical: Monitor for breakout

Stock Name: LHI (6633) Entry: Buy above RM0.85 Target: RM0.90 (5.9%), RM0.935 (10.0%) Stop: RM0.815 (-4.1%) Shariah: Yes Technical: Consolidation breakout

Source: Bloomberg, M+ Online

 

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