KLSE Traders Update and Ideas

Daily Market Update - 3 Dec 2018 (TGUAN, N2N)

mplus313
Publish date: Mon, 03 Dec 2018, 08:39 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,538.46 pts (+199.62pts, +0.79%)
U.S. stockmarkets rebounded after enduring a volatile trading session as the Dow added 0.8% last Friday, boosted by optimism over the potential trade agreement between U.S. and China. The immediate resistance is located at 26,000.

FBM KLCI: 1,679.86 pts (-16.48pts, -0.97%)
The FBM KLCI (-1.0%) erased all its previous session gains as the key index formed a bearish engulfing candle last Friday. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,040 (+RM13, +0.64%)
Crude palm oil prices trended higher for the third straight session alongside with the positive sentiment in oil-related commodities. The immediate support is located around RM1950.

WTI Crude Oil: $50.93 (-$0.52, -1.04%)
Crude oil prices retreated as concern over the oversupply glut remains unabated. The immediate resistance is located at US$55.

Gold: $1,220.52 (+$2.98, +0.24%)
Gold prices edged higher, boosted by the dovish stance from the U.S. Federal Reserve on U.S. future rate hikes. The immediate resistance is located around $1,250.

Economic Releases:
JP - Japan's Nikkei Manufacturing PMI, 8.30AM
MY - Malaysia's Caixin Manufacturing PMI, 8.30AM
CN - China's Caixin Manufacturing PMI, 9.45AM
EU - Eurozone's Markit Manufacturing PMI, 5.00PM
US - United States' Markit Manufacturing PMI, 10.45PM
US - United States' ISM Manufacturing PMI, 11.00PM

Potential Momentum Stocks - 3 Dec 18 
Stock Name: TGUAN (7034)
Entry: Buy above RM2.53
Target: RM2.71 (7.1%), RM2.88 (13.8%)
Stop: RM2.43 (-4.0%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: N2N (0108)
Entry: Buy above RM1.07
Target: RM1.18 (10.3%), RM1.22 (14.0%)
Stop: RM1.02 (-4.7%)
Shariah: Yes
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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