KLSE Traders Update and Ideas

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


Daily Market Update - 13 Dec 2019 (MBMR, VSTECS)

Author:   |    Publish date:

Dow Jones: 28,132.05 pts (+220.75pts, +0.79%)
U.S. stockmarkets rallied to close near their record high levels as the Dow gained 0.8% are close to a trade deal that may avert an impending fresh wave of tariffs on 15th December 2019. The immediate resistance is located at 28,200.

FBM KLCI: 1,567.34 pts (+4.15pts, +0.27%)
The FBM KLCI (+0.3%) marched higher, mirroring the positive sentiment on Wall Street overnight, lifted by gains in Petronas-related heavyweights yesterday. The immediate resistance is located at 1,580.

Crude Palm Oil: RM2,891 (+RM13, +0.45%)
Crude palm oil prices rebounded on reports that India may step up their purchases of palm oil from Malaysia. The immediate resistance is located around RM2,900.

WTI Crude Oil: $59.18 (+$0.42, +0.72%)
Crude oil prices advanced on expectations over improve demand amid the positive developments over Sino-U.S. trade progress. The immediate resistance is located at US$60.

Gold: $1,469.80 (-$5.08, -0.34%)
Gold prices retreated after erasing all its' intraday gains as investors shifted their appetite to riskier assets. The immediate resistance is located around $1,500.

Economic Releases:
JP - Japan's Industrial Production, 12.30PM
US - United States' Retail Sales, 9.30PM

M+ Online Technical Trading Stocks - 13 Dec 19

Stock Name: MBMR (5983)
Entry: Buy above RM3.93
Target: RM4.18 (6.4%), RM4.46 (13.5%)
Stop: RM3.69 (-6.1%)
Shariah: Yes
Technical: Monitor for trendline breakout

Stock Name: VSTECS (5162)
Entry: Buy above RM1.51
Target: RM1.67 (10.6%), RM1.73 (14.6%)
Stop: RM1.43 (-5.3%)
Shariah: Yes
Technical: Flag-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 
MBMR 3.87 +0.05 (1.31%) 50,600 
VSTECS 1.28 +0.02 (1.59%) 255,100 

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