KLSE Traders Update and Ideas

Daily Market Update - 4 Dec 2018 (CARIMIN, DANCO)

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Publish date: Tue, 04 Dec 2018, 08:32 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,826.43 pts (+287.97pts, +1.13%)
U.S. stockmarkets trended sharply higher with the Dow jumping 1.1% higher overnight as investors cheered on the news that U.S. and China came to a temporary trade truce in the G-20 weekend summit meeting. The immediate resistance is located at 26,000.

FBM KLCI: 1,699.72 pts (+19.86pts, +1.18%)
The FBM KLCI (+1.2%) recovered all its previous session losses as gains were in tandem with the positive sentiment across regional peers yesterday. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,000 (-RM40, -1.96%)
Crude palm oil prices halted a three-day winning streak after Indonesia reported a larger-than-expected inventory build-up. The immediate support is located around RM1950.

WTI Crude Oil: $52.95 (+$2.02, +3.99%)
Crude oil prices rallied after Russia has agreed to join Saudi Arabia on production cut in 2019. The immediate resistance is located at US$55.

Gold: $1,230.67 (+$10.15, +0.83%)
Gold prices extended its gains after the Greenback depreciated against a basket of currencies. The immediate resistance is located around $1,250.

Economic Releases:
EU - Eurozone's Producer Price Index, 6.00PM

Potential Momentum Stocks - 4 Dec 18 
Stock Name: CARIMIN (5257)
Entry: Buy above RM0.295
Target: RM0.325 (10.2%), RM0.345 (16.9%)
Stop: RM0.275 (-6.8%)
Shariah: Yes
Technical: Monitor for trendline breakout

Stock Name: DANCO (5276)
Entry: Buy above RM0.485
Target: RM0.525 (8.2%), RM0.56 (15.5%)
Stop: RM0.465 (-4.1%)
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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