KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Tue, 12 Nov 2019, 5:25 PM


Daily Market Update - 22 Oct 2019 (GHLSYS, SCICOM)

Author:   |    Publish date:

Dow Jones: 26,827.64 pts (+57.44pts, +0.21%)
U.S. stockmarkets started off the week on a buoyant mode as the Dow rose 0.2% amid optimism over U.S.-China trade negotiation progress. The immediate resistance is located at 27,300.

FBM KLCI: 1,570.93 pts (-0.22pts, -0.01%)
The FBM KLCI (-0.01%) inched lower to record its' third day losing streak, dragged down by the weakness in selected banking heavyweights yesterday. The immediate resistance is located at 1,580.

Crude Palm Oil: RM2,285 (-RM2, -0.09%)
Crude palm oil prices retreated for the first time in five days after hitting the RM2,300 resistance level as India trade body urged their members to boycott Malaysia palm oil. The immediate resistance is located around RM2,300.

WTI Crude Oil: $53.31 (-$0.47, -0.88%)
Crude oil prices extended their losses amid concern over the slowdown in global economic growth. The immediate resistance is located at US$58.

Gold: $1,484.50 (-$5.55, -0.37%)
Gold prices extended its's losses as investors opted for riskier assets amid the positive developments over Sino-U.S. trade progress. The immediate support is located around $1,450.

Economic Releases:
US - United States' Existing Home Sales, 10.00PM
MY - Malaysia's Inflation Rate, 12.00PM

M+ Online Technical Trading Stocks - 22 Oct 19

Stock Name: GHLSYS (0021)
Entry: Buy above RM1.40
Target: RM1.47 (5.0%), RM1.52 (8.6%)
Stop: RM1.36 (-2.9%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: SCICOM (0099)
Entry: Buy above RM0.95
Target: RM1.00 (5.3%), RM1.03 (8.4%)
Stop: RM0.905 (-4.7%)
Shariah: No
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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Related Stocks

Chart Stock Name Last Change Volume 
GHLSYS 1.40 -0.02 (1.41%) 172,900 
SCICOM 1.03 +0.02 (1.98%) 1,680,200 

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