Highlights

KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Wed, 19 Feb 2020, 8:35 AM

 

Daily Market Update - 21 Jan 2020 (SERBADK, IJM)

Author:   |    Publish date:


Dow Jones: 29,348.10 pts (+50.46pts, +0.17%)
U.S. stockmarkets were closed for the Martin Luther King Jr. public holiday. Futures market pointed to a flattish close with the Dow chalking in mild gains. The immediate resistance is located at 29,500.

FBM KLCI: 1,588.88 pts (-6.93pts, -0.43%)
The FBM KLCI (-0.4%) halted a three-day winning streak as the key index lingered mostly in the negative territory yesterday. The immediate resistance is located at 1,600.

Crude Palm Oil: RM2,902 (+RM65, +2.29%)
Crude palm oil prices snapped a five-day winning streak on the back of the weaker Ringgit, coupled with the higher soybean oil prices. The immediate resistance is located around RM3,000.

WTI Crude Oil: $58.54 (+$0.02, +0.03%)
Crude oil prices were closed for trading in conjunction with the Martin Luther King Jr. public holiday in the U.S. The immediate support is located at US$55.

Gold: $1,560.77 (+$3.53, +0.23%)
Gold prices extended its gains after the International Monetary Fund revised its' global growth outlook slightly downward to +3.3% Y.o.Y for 2020 (initial project at +3.4% Y.o.Y). The immediate resistance is located around $1,600.

Economic Releases:
JP - Japan's Bank of Japan's Interest Rate Decision, 11.00AM
UK - United Kingdom's Unemployment Rate, 5.30PM

Stock Name: SERBADK (5279)
Entry: Buy above RM2.33
Target: RM2.44 (4.7%), RM2.52 (8.2%)
Stop: RM2.25 (-3.4%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: IJM (3336)
Entry: Buy above RM2.24
Target: RM2.37 (5.8%), RM2.50 (11.6%)
Stop: RM2.18 (-2.7%)
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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Labels: SERBADK, IJM

Related Stocks

Chart Stock Name Last Change Volume 
SERBADK 2.43 +0.03 (1.25%) 186,900 
IJM 2.29 0.00 (0.00%) 12,300 

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