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KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Tue, 10 Dec 2019, 9:09 AM

 

Daily Market Update - 18 Nov 2019 (SCOMNET, GADANG)

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Dow Jones: 28,004.89 pts (+222.93pts, +0.80%)
U.S. stockmarkets closed at fresh record high levels as the Dow (+0.8%) surged above the 28,000 psychological level, spurred by the optimism surrounding U.S.-China trade negotiations progress. The immediate resistance is located at 28,500.

FBM KLCI: 1,594.75 pts (+1.20pts, +0.08%)
The FBM KLCI (+0.1%) rebounded after trading in a choppy manner following the release of 3Q2019 GDP that expanded 4.4% Y.o.Y - in line with economists' estimates. The immediate resistance is located at 1,620.

Crude Palm Oil: RM2,607 (-RM26, -0.99%)
Crude palm oil prices retreated as demand from India slipped, coupled with the rising Ringgit against the U.S. Dollar. The immediate resistance is located around RM2,650.

WTI Crude Oil: $57.72 (+$0.95, +1.67%)
Crude oil prices recovered all its' previous session losses on the back of falling U.S. oil rig count, coupled with optimism over improving demand. The immediate resistance is located at US$58.

Gold: $1,468.21 (-$3.19, -0.22%)
Gold prices snapped a three-day winning streak as investors opted for riskier assets, coupled with the stronger U.S. Dollar against a basket of currencies. The immediate resistance is located around $1,500.

M+ Online Technical Trading Stocks - 18 Nov 19

Stock Name: SCOMNET (0001)
Buy above RM0.855
Target: RM0.91 (6.4%), RM0.975 (14.0%)
Stop: RM0.825 (-3.5%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: GADANG (9261)
Entry: Buy above RM0.74
Target: RM0.77 (4.1%), RM0.81 (9.5%)
Stop: RM0.71 (-4.1%)
Shariah: Yes
Technical: Bullish engulfing candle

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: SCOMNET, GADANG

Related Stocks

Chart Stock Name Last Change Volume 
SCOMNET 0.76 +0.005 (0.66%) 108,000 
GADANG 0.715 +0.02 (2.88%) 2,590,100 

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