KLSE Traders Update and Ideas

Daily Market Update - 6 Dec 2018 (TADMAX, CRESBLD)

mplus313
Publish date: Thu, 06 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: 25,027.07 pts (-799.36pts, -3.10%)
U.S. stockmarkets were closed overnight in honor of former U.S. President George H.W. Bush, whilst U.S. futures market opened sharply lower. The immediate resistance is located at 26,000.

FBM KLCI: 1,688.27 pts (-6.72pts, -0.40%)
The FBM KLCI (-0.4%) extended its losses alongside with the negative performance across regional peers yesterday. The immediate resistance is located at 1,700.

Crude Palm Oil: RM1,995 (-RM25, -1.24%)
Crude palm oil prices retreated, dragged down by the expectation over rising production in December 2018. The immediate support is located around RM1950.

WTI Crude Oil: $52.89 (-$0.36, -0.67%)
Crude oil prices retreated after Iran seeks exemption from OPEC cuts during U.S. sanction. The immediate resistance is located at US$55.

Gold: $1,237.29 (-$1.25, -0.10%)
Gold prices halted a three-day winning streak after the U.S. Dollar advanced against a basket of currencies. The immediate resistance is located around $1,250.

Economic Releases:
JP - Japan's 3Q2018 GDP Growth Rate, 7.50AM
US - United States' Factory Orders, 11.00PM

Potential Momentum Stocks - 6 Dec 18 
Stock Name: TADMAX (4022)
Entry: Buy above RM0.24
Target: RM0.26 (8.3%), RM0.27 (12.5%)
Stop: RM0.225 (-6.2%)
Shariah: Yes
Technical: Bullish engulfing candle

Stock Name: CRESBLD (8591)
Entry: Buy above RM0.90
Target: RM0.975 (8.3%), RM1.07 (18.9%)
Stop: RM0.845 (-6.1%)
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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