KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Tue, 13 Oct 2020, 5:16 PM


Daily Market Update - 22 Jan 2020 (JFTECH, YSPSAH)

Author:   |    Publish date:

Dow Jones: 29,196.04 pts (-152.06pts, -0.52%)
U.S. stockmarkets resume trading in a downbeat manner as the Dow fell 0.5% on reports over the first coronavirus outbreak in the country. The immediate resistance is located at 29,500.

FBM KLCI: 1,587.33 pts (-1.55pts, -0.10%)
The FBM KLCI (-0.1%) extended its' losses in tandem with the weakness across Asia equities following the rising cases of coronavirus outbreak across the region. The immediate resistance is located at 1,600.

Crude Palm Oil: RM2,902 (-RM15, -0.52%)
Crude palm oil prices staged a mild pullback after recovering most of its' intraday losses, taking cue from the weakness in soybean oil prices, coupled with expectations over sluggish exports data. The immediate support is located around RM2,850.

WTI Crude Oil: $58.54 (-$0.20, -0.34%)
Crude oil prices trended lower as U.S. urged Libya to quickly restore their production. The immediate support is located at US$55.

Gold: $1,560.77 (-$1.88, -0.12%)
Gold prices retreated as the Greenback advanced against a basket of currencies. The immediate resistance is located around $1,600.

Economic Releases:
MY - Malaysia's Inflation Rate, 12.00PM
MY - Malaysia's Bank Negara's Interest Rate Decision, 3.00PM
US - United States' Existing Home Sales, 11.00PM

M+ Online Technical Trading Stocks - 22 Jan 20

Stock Name: JFTECH (0146)
Entry: Buy above RM1.48
Target: RM1.61 (8.8%), RM1.70 (14.9%)
Stop: RM1.38 (-6.8%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: YSPSAH (7178)
Entry: Buy above RM2.37
Target: RM2.47 (4.2%), RM2.53 (6.8%)
Stop: RM2.27 (-4.2%)
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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