KLSE Traders Update and Ideas

Daily Market Update - 11 Dec 2018 (HIBISCS, DELEUM)

mplus313
Publish date: Tue, 11 Dec 2018, 08:35 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,423.26 pts (+34.31pts, +0.14%)
U.S. stockmarkets chalked in minor gains after recovering all their intraday losses as the Dow added 0.1%, lifted by bargain hunting activities in selected index heavyweights. The immediate resistance is located at 25,000.

FBM KLCI: 1,663.31 pts (-17.23pts, -1.03%)
The FBM KLCI (-1.0%) trended lower for the fifth straight session yesterday as weakness were in line with the negative sentiment across regional peers. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,042 (+RM44, +2.20%)
Crude palm oil prices rebounded to close at two-weeks higher, boosted by the weaker-than-expected production output. The immediate support is located around RM1950.

WTI Crude Oil: $50.89 (-$1.72, -3.27%)
Crude oil prices took a beating as investors assess whether OPEC production cut could improve the oversupply glut. The immediate resistance is located at US$55.

Gold: $1,244.51 (+$0.05, +0.00%)
Gold prices closed relatively unchanged as gains were capped by the U.S. Dollar appreciated against a basket of currencies. The immediate resistance is located around $1,250.

Potential Momentum Stocks - 11 Dec 18 
Stock Name: HIBISCS (5199)
Entry: Buy above RM1.06
Target: RM1.18 (11.3%), RM1.29 (21.7%)
Stop: RM0.975 (-8.0%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: DELEUM (5132)
Entry: Buy above RM1.05
Target: RM1.14 (8.6%), RM1.21 (15.2%)
Stop: RM0.98 (-6.7%)
Shariah: Yes
Technical: Monitor for 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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