KLSE Traders Update and Ideas

Daily Market Update - 30 Nov 2018 (3A, IGBREIT)

mplus313
Publish date: Fri, 30 Nov 2018, 08:37 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,338.84 pts (-27.59pts, -0.11%)
U.S. stockmarkets edged lower after erasing all their intraday gains as the Dow (-0.1%) snapped a three-day winning streak as investors remain wary of the weekend meeting of G-20. The immediate resistance is located at 25,500.

FBM KLCI: 1,696.34 pts (+9.79pts, +0.58%)
The FBM KLCI (+0.6%) was nudged higher, taking cue from the positive developments in Wall Street overnight. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,027 (+RM13, +0.65%)
Crude palm oil prices extended its gains on expectations that the increasing output would taper towards year-end. The immediate support is located around RM1950.

WTI Crude Oil: $51.45 (+$1.16, +2.30%)
Crude oil prices rebounded after Russia looks to join OPEC for production cut in 2019. The immediate resistance is located at US$55.

Gold: $1,224.21 (+$2.98, +0.24%)
Gold prices extended its gains after the U.S. Federal reserve re-affirmed of a rate hike in December 2018. The immediate resistance is located around $1,250.

Economic Releases:
JP - Japan's Unemployment Rate, 7.30AM
CN - China's NBS Manufacturing PMI, 9.00AM
CN - China's Non-Manufacturing PMI, 9.00AM
MY - Malaysia's Producer Price Index, 12.00PM
EU - Eurozone's Unemployment Rate, 6.00PM

Potential Momentum Stocks - 30 Nov 18 
Stock Name: 3A (0012)
Entry: Buy above RM0.795
Target: RM0.86 (8.2%), RM0.90 (13.2%)
Stop: RM0.76 (-4.4%)
Shariah: Yes
Technical: Consolidation breakout

Stock Name: IGBREIT (5227)
Entry: Buy above RM1.71
Target: RM1.80 (5.3%), RM1.85 (8.2%)
Stop: RM1.67 (-2.3%)
Shariah: No
Technical: Breakout-pullback-continuation

In regards to the discontinuation of daily trade statistics, please visit Bursa Marketplace's official Facebook page at https://www.facebook.com/BursaMarketplace/ to obtain the aforementioned data between 8.30AM-9.00AM

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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