KLSE Traders Update and Ideas

Daily Market Update - 20 Nov 2019 (DAYANG, LEWEKO)

mplus313
Publish date: Wed, 20 Nov 2019, 08:40 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 27,934.02 pts (-102.20pts, -0.36%)
U.S. stockmarkets retreated from their all-time high levels as the Dow fell 0.4% after U.S. President threaten to raise tariffs should the "Phase 1" trade agreement fail to materialise. The immediate resistance is located at 28,500.

FBM KLCI: 1,605.31 pts (+0.95pts, +0.06%)
Once again, the eleventh hour bargain hunting in selected index heavyweights shored the FBM KLCI (+0.1%) higher as the key index defended the 1,600 psychological level yesterday. The immediate resistance is located at 1,620.

Crude Palm Oil: RM2,622 (+RM25, +0.96%)
Crude palm oil prices rebounded on optimism over rising exports, coupled with the weaker Ringgit against the U.S. Dollar. The immediate resistance is located around RM2,650.

WTI Crude Oil: $55.15 (-$1.90, -3.33%)
Crude oil prices extended its' losses reacting to the pessimism over Sino-U.S. trade progress. The immediate resistance is located at US$58.

Gold: $1,472.46 (+$0.95, +0.06%)
Gold prices extended its' gains, lifted by the fresh uncertainty over U.S.-China trade talks. The immediate resistance is located around $1,500.

Economic Releases:
MY - Malaysia's Inflation Rate, 12.00PM

M+ Online Technical Trading Stocks - 20 Nov 19

Stock Name: DAYANG (5141)
Entry: Buy above RM2.01
Target: RM2.20 (9.5%), RM2.35 (16.9%)
Stop: RM1.85 (-8.0%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: LEWEKO (8745)
Entry: Buy above RM0.215
Target: RM0.24 (11.6%), RM0.255 (18.6%)
Stop: RM0.195 (-9.3%)
Shariah: Yes
Technical: Flag-formation breakout

Source: Bloomberg, M+ Online

 

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