KLSE Traders Update and Ideas

Daily Market Update - 12 Nov 2019 (CEPAT, MBL)

mplus313
Publish date: Tue, 12 Nov 2019, 08:51 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 27,691.49 pts (+10.25pts, +0.04%)
U.S. stockmarkets finished on a mixed note as the Dow gained 0.04%, lifted by Boeing Co (+4.5%) on news that the aircraft manufacturer may resume the delivery of Boeing 737 MAX next month, but the S&P 500 slipped 0.2%. The immediate resistance is located at 27,700.

FBM KLCI: 1,608.15 pts (-1.58pts, -0.10%)
The FBM KLCI (-0.1%) retreated in line with the regional peers, spooked by the growing political unrest at Hong Kong. The immediate resistance is located at 1,620.

Crude Palm Oil: RM2,627 (+RM54, +2.10%)
Crude palm oil prices extended its gains on the decline in October production, coupled with the rising exports data. The immediate resistance is located around RM2,700.

WTI Crude Oil: $56.86 (-$0.38, -0.66%)
Crude oil prices retreated from six-week high amid the uncertainty surrounding U.S.-China trade progress. The immediate resistance is located at US$58.

Gold: $1,455.86 (-$3.14, -0.22%)
Gold prices trended lower for the third straight session to close at three-month low as demand for safe haven assets remain unattractive. The immediate support is located around $1,400.

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

M+ Online Technical Trading Stocks - 12 Nov 19

Stock Name: CEPAT (8982)
Entry: Buy above RM0.525
Target: RM0.555 (5.7%), RM0.565 (7.6%)
Stop: RM0.510 (-2.9%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: MBL (5152)
Entry: Buy above RM1.27
Target: RM1.40 (10.2%), RM1.43 (12.6%)
Stop: RM1.20 (-5.5%)
Shariah: Yes
Technical: Bullish engulfing candle

Source: Bloomberg, M+ Online

 

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