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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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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