Dow Jones: 28,722.85 pts (+187.05pts, +0.66%)
U.S. stockmarkets rebounded to recoup some of their previous session losses as the Dow rose 0.7% as investors shifted their attention the string of stronger-than-expected corporate earnings. The immediate resistance is located at 29,500.

FBM KLCI: 1,551.64 pts (-21.17pts, -1.35%)
The FBM KLCI (-1.4%) gapped down to trend lower, mirroring the weakness across global equities as sentiment were dented by the rising casualties from the coronavirus outbreak. The immediate resistance is located at 1,565.

Crude Palm Oil: RM2,575 (-RM286, -10.00%)
Crude palm oil prices endured its' biggest daily slump in twelve years on concern over demand stemmed from the coronavirus outbreak. The immediate support is located around RM2,500.

WTI Crude Oil: $53.98 (+$0.84, +1.58%)
Crude oil prices recovered all its' intraday losses to snap a five-day losing streak on reports that OPEC and allies might reduce their production. The immediate support is located at US$50.

Gold: $1,567.17 (-$14.89, -0.94%)
Gold prices erased all its' previous session gains to halt a four-day winning streak as investors turned risk on mode. The immediate resistance is located around $1,600.

M+ Online Technical Trading Stocks - 29 Jan 20

Stock Name: ZHULIAN (5131)
Entry: Buy above RM1.53
Target: RM1.65 (7.8%), RM1.68 (9.8%)
Stop: RM1.44 (-5.9%)
Shariah: Yes
Technical: Bullish engulfing candle

Stock Name: SCOMNET (0001)
Entry: Buy above RM0.77
Target: RM0.82 (6.5%), RM0.88 (14.3%)
Stop: RM0.745 (-3.2%)
Shariah: Yes
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

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.