KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Wed, 29 Jan 2020, 8:27 AM


Daily Market Update - 11 Dec 2019 (GAMUDA, CABNET)

Author:   |    Publish date:

Dow Jones: 27,881.72 pts (-27.88pts, -0.10%)
U.S. stockmarkets extended their losses as the Dow fell 0.1% ahead of the two-day U.S. Federal Reserve policy meeting. The immediate resistance is located at 28,200.

FBM KLCI: 1,561.79 pts (-0.92pts, -0.06%)
The FBM KLCI (-0.1%) trended lower mirroring the weakness across regional equities amid the uncertainty over U.S.-China trade progress. The immediate support is located at 1,550.

Crude Palm Oil: RM2,903 (+RM1, +0.03%)
Crude palm oil prices edged marginally higher to record its' sixth straight session of gains as Malaysia's palm oil inventory fell to three-month low in November 2019 at 2.3 mln tonnes. The immediate resistance is located around RM2,900.

WTI Crude Oil: $59.24 (+$0.22, +0.37%)
Crude oil prices rebounded ahead of the release of weekly U.S. inventory level data. The immediate resistance is located at US$60.

Gold: $1,464.39 (+$2.71, +0.19%)
Gold prices extended its' gains ahead of the impending fresh tariffs on Chinese goods from the U.S. The immediate resistance is located around $1,500.

Economic Releases:
JP - Japan's Producer Price Index, 7.50AM
US - United States' Inflation Rate, 9.30PM

M+ Online Technical Trading Stocks - 11 Dec 19

Stock Name: GAMUDA (5398)
Entry: Buy above RM3.76
Target: RM3.88 (3.2%), RM4.04 (7.4%)
Stop: RM3.65 (-2.9%)
Shariah: Yes
Technical: Consolidation breakout

Stock Name: CABNET (0191)
Entry: Buy above RM0.23
Target: RM0.255 (10.9%), RM0.27 (17.4%)
Stop: RM0.21 (-8.7%)
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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Related Stocks

Chart Stock Name Last Change Volume 
GAMUDA 3.97 -0.05 (1.24%) 1,598,300 
CABNET 0.22 +0.005 (2.33%) 100,100 

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