KLSE Traders Update and Ideas

Daily Market Update - 19 Nov 2018 (SCOMNET, SALUTE)

mplus313
Publish date: Mon, 19 Nov 2018, 08:43 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,413.22 pts (+123.95pts, +0.49%)
U.S. stockmarkets extended its gains as the Dow added 0.5% last Friday amid optimism over trade dispute between U.S. and China. The immediate resistance is located at 26,000.

FBM KLCI: 1,706.38 pts (+12.17pts, +0.72%)
The FBM KLCI (+0.7%) recorded its third straight session of gains alongside with the mostly positive performance across regional peers on last Friday. The immediate resistance is located at 1,730.

Crude Palm Oil: RM1,972 (-RM77, -3.76%)
Crude palm oil prices endured another round of beating, dragged down by the sluggish import data from India. The immediate support is located around RM1950.

WTI Crude Oil: $56.46 (+$0.00, +0.00%)
Crude oil prices ended on a flat note after erasing all its intraday gains as U.S. rig counts inched higher. The immediate resistance is located at US$60.

Gold: $1,223.36 (+$10.00, +0.82%)
Gold prices recorded its fourth straight session of gains alongside with the positive sentiment across other precious metals commodities. The immediate resistance is located around $1,250.

Potential Momentum Stocks - 19 Nov 18 
Stock Name: SCOMNET (0001)
Entry: Buy above RM0.67
Target: RM0.745 (11.2%), RM0.78 (16.4%)
Stop: RM0.625 (-6.7%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: SALUTE (0183)
Entry: Buy above RM0.545
Target: RM0.59 (8.3%), RM0.61 (11.9%)
Stop: RM0.51 (-6.4%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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