KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Thu, 27 Feb 2020, 8:36 AM


Daily Market Update - 20 Jan 2020 (OKA, SCANWLF)

Author:   |    Publish date:

Dow Jones: 29,348.10 pts (+50.46pts, +0.17%)
U.S. stockmarkets ended the week on a strong footing to close at fresh record high levels as the Dow gained 0.2%, boosted by the strong corporate earnings reports, couple with the solid housing data. The immediate resistance is located at 29,500.

FBM KLCI: 1,595.81 pts (+7.93pts, +0.50%)
The FBM KLCI (+0.5%) registered its' third straight winning streak, lifted by gains in telco heavyweights on last Friday. The immediate resistance is located at 1,600.

Crude Palm Oil: RM2,837 (-RM49, -1.70%)
Crude palm oil prices trended lower for the fifth consecutive session to mark its' worst weekly decline in nine years on reports that India may curb import from Malaysia. The immediate support is located around RM2,800.

WTI Crude Oil: $58.54 (+$0.71, +1.23%)
Crude oil prices extended its' gains, boosted by OPEC and the allies' pledge to extend the production cut till end-2020. The immediate support is located at US$55.

Gold: $1,557.24 (+$4.73, +0.30%)
Gold prices recovered all its' previous session losses after the Greenback retreated against a basket of currencies. The immediate resistance is located around $1,600.

M+ Online Technical Trading Stocks - 20 Jan 20

Stock Name: OKA (7140)
Entry: Buy above RM0.78
Target: RM0.815 (4.5%), RM0.84 (7.7%)
Stop: RM0.75 (-3.8%)
Shariah: Yes
Technical: Flag-formation breakout

Stock Name: SCANWLF (7239)
Entry: Buy above RM0.255
Target: RM0.28 (9.8%), RM0.290 (13.7%)
Stop: RM0.23 (-9.8%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online



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Chart Stock Name Last Change Volume 
OKA 0.715 +0.005 (0.70%) 126,500 
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