KLSE Traders Update and Ideas

Daily Market Update - 5 Dec 2018 (GCB, TONGHER)

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Publish date: Wed, 05 Dec 2018, 08:33 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,027.07 pts (-799.36pts, -3.10%)
U.S. stockmarkets endured their worst session since October 2018 as the Dow sank 3.1% on the uncertainty over the existing trade spat between U.S. and China. The immediate resistance is located at 26,000.

FBM KLCI: 1,694.99 pts (-4.73pts, -0.28%)
The FBM KLCI (-0.3%) gave up some of its previous session gains yesterday, dragged down by mild profit taking activities in selected index heavyweights. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,020 (+RM20, +1.00%)
Crude palm oil prices advanced on speculation that Indonesia would not cut its levy. The immediate support is located around RM1950.

WTI Crude Oil: $53.25 (+$0.30, +0.56%)
Crude oil prices extended its gains, boosted by the temporary trade truce between U.S. and China. The immediate resistance is located at US$55.

Gold: $1,238.54 (+$7.87, +0.64%)
Gold prices trended higher for the third straight session after the U.S. Dollar continues to trend lower against a basket of currencies. The immediate resistance is located around $1,250.

Economic Releases:
CN - China's Caixin Services PMI, 9.45AM
CN - China's Caixin Composite PMI, 9.45AM
EU - Eurozone's Markit Composite PMI, 5.00PM
EU - Eurozone's Markit Services PMI, 5.00PM
EU - Eurozone's Retail Sales, 6.00PM
US - United States' Markit Services PMI, 10.45PM
US - United States' Markit Composite PMI, 10.45PM
US - United States' ISM Non-Manufacturing PMI, 11.00PM

Potential Momentum Stocks - 5 Dec 18 
Stock Name: GCB (5102)
Entry: Buy above RM2.86
Target: RM3.07 (7.3%), RM3.20 (11.9%)
Stop: RM2.76 (-3.5%)
Shariah: No
Technical: Breakout-pullback-continuation

Stock Name: TONGHER (5010)
Entry: Buy above RM4.03
Target: RM4.28 (6.2%), RM4.40 (9.2%)
Stop: RM3.82 (-5.2%)
Shariah: Yes
Technical: Monitor for trendline breakout

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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