KLSE Traders Update and Ideas

Daily Market Update - 31 Dec 2018 (SPSETIA, CMMT)

mplus313
Publish date: Mon, 31 Dec 2018, 08:36 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 23,062.40 pts (-76.42pts, -0.33%)
U.S. stockmarkets were traded in a volatile manner, before trending lower as the Dow fell 0.3% last Friday on a holiday-thinned trading week. The immediate resistance is located at 23,500.

FBM KLCI: 1,692.07 pts (+1.35pts, +0.08%)
The FBM KLCI (+0.1%) extended its gains, boosted by the eleventh hour buying support in selected index heavyweights on last Friday. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,121 (+RM16, +0.76%)
Crude palm oil prices extended its gains, taking cue from the higher soybean oil prices. The immediate support is located around RM2050.

WTI Crude Oil: $45.33 (+$0.72, +1.62%)
Crude oil prices extended its gains, dismissing the higher U.S. inventory build-up. The immediate resistance is located at US$50.

Gold: $1,278.27 (+$8.57, +0.68%)
Gold prices extended its gains as demand for safe haven assets improved. The immediate resistance is located around $1,280.

Economic Releases:

Potential Momentum Stocks - 31 Dec 18 
Stock Name: SPSETIA (8664)
Entry: Buy above RM2.41
Target: RM2.62 (8.7%), RM2.82 (17.0%)
Stop: RM2.28 (-5.4%)
Shariah: Yes
Technical: Symmetrical triangle formation breakout

Stock Name: CMMT (5180)
Entry: Buy above RM1.03
Target: RM1.09 (5.8%), RM1.17 (13.6%)
Stop: RM0.99 (-3.9%)
Shariah: Yes
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

 

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The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.

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