KLSE Traders Update and Ideas

Daily Market Update - 29 Nov 2019 (CAELY, KHEESAN)

mplus313
Publish date: Fri, 29 Nov 2019, 09:34 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 28,164.00 pts (+42.32pts, +0.15%)
U.S. stockmarkets were closed for the Thanksgiving public holiday, while futures market was negative amid the uncertainty over U.S.-China trade negotiations. The immediate resistance is located at 28,500.

FBM KLCI: 1,583.77 pts (-3.41pts, -0.21%)
The FBM KLCI (-0.2%) turned lower, mirroring the weakness across regional equities on quick profit taking activities in selected index heavyweights yesterday. The immediate resistance is located at 1,600.

Crude Palm Oil: RM2,723 (+RM36, +1.34%)
Crude palm oil prices extended its' gains alongside with the higher soybean oil prices amid stronger demand outlook. The immediate support is located around RM2,700.

WTI Crude Oil: $58.11 (-$0.30, -0.51%)
Crude oil prices extended its' losses, dragged down by the renewed U.S.-China trade tension. The immediate resistance is located at US$60.

Gold: $1,456.27 (+$1.83, +0.13%)
Gold prices rebounded on the political uncertainty at Hong Kong, but gains were capped by the rising Greenback against a basket of currencies. The immediate resistance is located around $1,500.

Economic Releases:
JP - Japan's Unemployment Rate, 7.30AM
JP - Japan's Retail Sales, 7.50AM
EU - Eurozone's Unemployment Rate, 6.00PM

M+ Online Technical Trading Stocks - 29 Nov 19

Stock Name: CAELY (7154)
Buy above RM0.42
Target: RM0.465 (10.7%), RM0.49 (16.7%)
Stop: RM0.38 (-9.5%)
Shariah: Yes
Technical: Consolidation breakout

Stock Name: KHEESAN (6203)
Entry: Buy above RM0.305
Target: RM0.35 (14.8%), RM0.375 (23.0%)
Stop: RM0.27 (-11.5%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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