KLSE Traders Update and Ideas

Daily Market Update - 19 Dec 2018 (N2N, CMMT)

mplus313
Publish date: Wed, 19 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: 23,675.64 pts (+82.66pts, +0.35%)
U.S. stockmarkets managed to claw their way into the positive territory in the eleventh trading hour as the Dow added 0.4% ahead of the U.S. Federal Reserve monetary policy decision. The immediate support is located at 23,000.

FBM KLCI: 1,635.31 pts (-6.31pts, -0.38%)
The FBM KLCI (-0.4%) trended lower for the third straight session as sentiment was in line with the weakness across regional peers yesterday. The immediate support is located at 1,630.

Crude Palm Oil: RM2,155 (+RM34, +1.60%)
Crude palm oil prices extended its gains to close at six-weeks high on expectation over dwindling future output. The immediate support is located around RM2000.

WTI Crude Oil: $46.24 (-$3.64, -7.29%)
Crude oil prices tumbled to 16-month low, dragged down by escalating fear over rising U.S. and Russia supply. The immediate support is located at US$40.

Gold: $1,249.42 (+$3.57, +0.29%)
Gold prices extended its gains as demand for safe haven assets improved. The immediate resistance is located around $1,280.

Economic Releases:
MY - Malaysia's Inflation Rate, 12.00PM
UK - United Kingdom's Inflation Rate, 5.30PM

Potential Momentum Stocks - 19 Dec 18 
Stock Name: N2N (0108)
Entry: Buy above RM0.92
Target: RM1.03 (12.0%), RM1.09 (18.5%)
Stop: RM0.82 (-10.9%)
Shariah: Yes
Technical: Bullish engulfing candle

Stock Name: CMMT (5180)
Entry: Buy above RM1.04
Target: RM1.09 (4.8%), RM1.17 (12.5%)
Stop: RM0.99 (-4.8%)
Shariah: No
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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