KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Wed, 11 Dec 2019, 5:12 PM


Daily Market Update - 5 Nov 2019 (GDB, BJTOTO)

Author:   |    Publish date:

Dow Jones: 27,462.11 pts (+114.75pts, +0.42%)
U.S. stockmarkets started off the week on a solid footing as the Dow (+0.4%) was powered to close at fresh record high level amid optimism over U.S-China trade progress. The immediate resistance is located at 27,500.

FBM KLCI: 1,603.56 pts (+10.22pts, +0.64%)
The FBM KLCI (+0.6%) recovered all its' previous session losses in line with gains across regional peers as the key index closed above the 1,600 psychological level for the first time since mid-September 2019. The immediate resistance is located at 1,620.

Crude Palm Oil: RM2,529 (+RM68, +2.76%)
Crude palm oil prices staged a sharp recovery in line with gains across other oil-related commodities. The immediate resistance is located around RM2,550.

WTI Crude Oil: $56.20 (+$2.02, +3.75%)
Crude oil prices extended its' gains after Iranian Oil Minister Zanganeh hinted that OPEC may cut production in the upcoming meeting next month. The immediate resistance is located at US$58.

Gold: $1,509.82 (-$4.52, -0.30%)
Gold prices finished lower as investors flocked to riskier assets amid the positive developments over Sino-U.S. trade progress. The immediate resistance is located around $1,550.

Economic Releases:
CN - China's Caixin Services PMI, 9.45AM
CN - China's Caixin Composite PMI, 9.45AM
MY - Malaysia's Bank Negara's Interest Rate Decision, 3.00PM
EU - Eurozone's Producer Price Index, 5.00PM
US - United States' Markit Composite PMI, 10.45PM
US - United States' Markit Services PMI, 10.45PM
US - United States' ISM Non-Manufacturing PMI, 11.00PM

M+ Online Technical Trading Stocks - 5 Nov 19

Stock Name: GDB (0198)
Entry: Buy above RM0.355
Target: RM0.38 (7.0%), RM0.415 (16.9%)
Stop: RM0.335 (-5.6%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: BJTOTO (1562)
Entry: Buy above RM2.66
Target: RM2.82 (6.0%), RM3.00 (12.8%)
Stop: RM2.53 (-4.9%)
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 
GDB 0.46 -0.005 (1.08%) 887,200 
BJTOTO 2.65 +0.01 (0.38%) 284,300 

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