KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Fri, 22 May 2020, 5:22 PM


Daily Market Update - 18 Apr 2019 (EVERGRN, SCOMNET)

Author:   |    Publish date:

Dow Jones: 26,449.54 pts (-3.12pts, -0.01%)
U.S. stockmarkets edged lower as the Dow fell 0.01% on concern over the healthcare policy reformation, coupled with lower crude oil prices. The immediate resistance is located at 27,000.

FBM KLCI: 1,620.90 pts (-8.56pts, -0.53%)
The FBM KLCI (-0.5%) remain downbeat on possibility of being removed from the World Government Bond Index (WGBI) amid the unabated capital outflow, coupled with the depressed Ringgit against the Greenback. The immediate support is located at 1,610.

Crude Palm Oil: RM2,205 (+RM32, +1.47%)
Crude palm oil prices extended its gains, boosted by higher demand ahead of the Ramadan festive period. The immediate resistance is located around RM2,300.

WTI Crude Oil: $63.76 (-$0.29, -0.45%)
Crude oil prices staged a pullback as U.S. inventory level declined less-than-expected. The immediate resistance is located at US$67.

Gold: $1,273.98 (-$2.81, -0.22%)
Gold prices recorded its fourth straight session of decline due to the solid Chinese economic data. The immediate resistance is located around $1,300.

Economic Releases:
UK - United Kingdom's Retail Sales, 4.30PM
US - United States' Retail Sales, 8.30PM

Technical Trading Stocks - 18 Apr 19 
Stock Name: EVERGRN (5101)
Entry: Buy above RM0.395
Target: RM0.41 (3.8%), RM0.43 (8.9%)
Stop: RM0.38 (-3.8%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: SCOMNET (0001)
Entry: Buy above RM0.825
Target: RM0.90 (9.1%), RM0.95 (15.2%)
Stop: RM0.795 (-3.6%)
Shariah: Yes
Technical: Symmetrical triangle 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.

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Related Stocks

Chart Stock Name Last Change Volume 
EVERGRN 0.17 -0.005 (2.86%) 3,196,100 
SCOMNET 0.855 +0.035 (4.27%) 9,037,600 

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