KLSE Traders Update and Ideas

Daily Market Update - 15 Feb 2024 (PARKSON, RANHILL)

Publish date: Thu, 15 Feb 2024, 09:07 AM
0 3,649
This blog provides market updates and trading ideas that I gather from around the web.

M+ Online Morning Market Buzz - 15 Feb 24

Dow Jones: 38,424.27 pts (+151.52pts, +0.40%)
⬆️ Resistance: 39800
⬇️ Support: 37300

FBM KLCI: 1,529.33 pts (-2.04pts, -0.13%)
⬆️ Resistance: 1570
⬇️ Support: 1480

HSI Index: 15,879.38 pts (+132.80pts, +0.84%)
⬆️ Resistance: 16500
⬇️ Support: 15200

Crude Palm Oil: RM3,959 (+RM11, +0.28%)
⬆️ Resistance: 4040
⬇️ Support: 3770

Brent Oil: $82.77 (-$1.23, -1.49%)
⬆️ Resistance: 85.30
⬇️ Support: 77.50

Gold: $1,992.33 (-$26.90, -1.33%)
⬆️ Resistance: 2080
⬇️ Support: 1950

M+ Online Technical Trading Stocks - 15 Feb 24

Market update – 15 Feb 24
Positive Sentiment To Prevail

The FBM KLCI turned sideways after the recent consolidation breakout. We believe the overall market tone is still positive and likely to head higher after the earnings season. Meanwhile, Wall Street rebounded significantly after the sharp sell down, led mainly by the technology sector. Traders will be monitoring the retail sales and the US PPI data that will be released over the next two days. Although the inflation data may spike, the market will be focusing on the ongoing earnings season to look for trading opportunities. On the commodity market, the Brent oil price traded slightly lower as EIA reported the US inventories surged by 12 million barrels last week, above consensus estimates of 2.6 million.

Sectors focus: Key sectors that investors should be focusing on will be the (i) Construction, (ii) Property, (iii) Utilities and (iv) Renewable Energy given the trading themes revolving around the mega infrastructure projects as well as the data centre investments in Malaysia. Also, we like Consumer related, specifically the poultry sector in anticipation of stronger quarterly results amid normalising costs and higher demand. Besides, the Transportation & Logistics sector may benefit from the ongoing Middle East tensions.

Stocks to watch:

Construction: EPICON, ROHAS
Property: PARAMON
Finance: AMBANK
Utilities: RANHILL
Building Material: MNHLDG, YBS
Technology: KGB
Transportation & Logistics: MISC

Source: M+ Online

M+ Online Technical Trading Stocks - 15 Feb 24

Stock Name: PARKSON (5657)
Entry: Buy above RM0.290
Target: RM0.305 (5.2%), RM0.320 (10.3%)
Stop: RM0.280 (-3.4%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: RANHILL (5272)
Entry: Buy above RM1.130
Target: RM1.180 (4.4%), RM1.220 (8.0%)
Stop: RM1.100 (-2.7%)
Shariah: Yes
Technical: Impending flag-formation breakout

Source: Bloomberg, M+ Online



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.

Be the first to like this. Showing 0 of 0 comments

Post a Comment