KLSE Traders Update and Ideas

Daily Market Update - 22 Nov 2018 (OPCOM, AEMULUS)

mplus313
Publish date: Thu, 22 Nov 2018, 08:53 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,464.69 pts (-0.95pts, -0.00%)
U.S. stockmarkets ended on a mixed note as the Dow closed marginally lower after erasing all its intraday gains, but the S&P 500 added 0.3%, lifted by gains in the energy sector (+1.6%). The immediate support is located at 24,000.

FBM KLCI: 1,695.37 pts (-15.34pts, -0.90%)
Tracking the renewed volatility in Wall Street overnight, the FBM KLCI (-0.9%) gapped down to close below the 1,700 psychological level yesterday. The immediate resistance is located at 1,730.

Crude Palm Oil: RM2,006 (+RM20, +1.01%)
Crude palm oil prices edged higher after recovering all its intraday losses, boosted by bargain hunting activities, coupled with higher crude oil prices yesterday. The immediate support is located around RM1950.

WTI Crude Oil: $54.63 (+$1.20, +2.25%)
Crude oil prices rebounded from 13-month low as demand from U.S. improved. The immediate resistance is located at US$60.

Gold: $1,226.04 (+$4.38, +0.36%)
Gold prices recovered all its previous session losses to close at its highest level in two weeks. The immediate resistance is located around $1,250.

Economic Releases:
JP - Japan's Inflation Rate, 7.30AM

Potential Momentum Stocks - 22 Nov 18 
Stock Name: OPCOM (0035)
Entry: Buy above RM0.74
Target: RM0.81 (9.5%), RM0.86 (16.2%)
Stop: RM0.695 (-6.1%)
Shariah: Yes
Technical: Bullish engulfing candle

Stock Name: AEMULUS (0181)
Entry: Buy above RM0.315
Target: RM0.34 (7.9%), RM0.36 (14.3%)
Stop: RM0.295 (-6.3%)
Shariah: Yes
Technical: Resistance breakout

Source: Bloomberg, M+ Online

 

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