KLSE Traders Update and Ideas

Daily Market Update - 23 Nov 2018 (NOTION, SIME)

mplus313
Publish date: Fri, 23 Nov 2018, 08:35 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 were closed for the Thanksgiving Day public holiday yesterday. Futures market saw the Dow falling 0.6% on lingering concern over the global growth. The immediate support is located at 24,000.

FBM KLCI: 1,695.62 pts (+0.25pts, +0.01%)
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: RM2,057 (+RM51, +2.54%)
Crude palm oil prices extended its gains in tandem with the higher soybean oil prices overnight. The immediate support is located around RM1950.

WTI Crude Oil: $54.63 (+$1.20, +2.22%)
Trading in crude oil prices was also closed in conjunction with the Thanksgiving Day public holiday. The immediate resistance is located at US$60.

Gold: $1,228.64 (+$2.60, +0.21%)
Gold prices extended its gains as holdings in exchange-traded funds rose, signalling improved demand. The immediate resistance is located around $1,250.

Economic Releases:
MY - Malaysia's Inflation Rate, 12.00PM

Potential Momentum Stocks - 23 Nov 18 
Stock Name: NOTION (0083)
Entry: Buy above RM0.71
Target: RM0.755 (6.3%), RM0.79 (11.3%)
Stop: RM0.68 (-4.2%)
Shariah: Yes
Technical: Flag-formation breakout

Stock Name: SIME (4197)
Entry: Buy above RM2.52
Target: RM2.75 (9.1%), RM2.93 (16.3%)
Stop: RM2.33 (-7.5%)
Shariah: Yes
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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